Page 16 - Debt Plan News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Context of the super committee is a realistic goal? >> i, you know -- >> i don't know the answer. >> listen, i don't know. nobody there believes -- this is how they put it when it comes to both their jobs bill and this. right? they will say the following. yes, we're pessimistic that congress will take this up, we're pessimistic we can cut a deal with republicans, but we think it's possible. that's their way of saying no. >> so it's like the last thing they put out, you think this is just political window dressing. they're setting the republicans up? >> well, this is also the president trying t...

explained his plan today. >> we have to prioritize. both parties agree that we need to reduce the deficit by the same amount, $4 trillion. so what choices are we going to make to reach that goal? either we ask the wealthiest americans to pay their fair share in taxes railroor ask seno pay more for medicare. we can't afford to do both. either we gut education and medical research or we've got to reform the tax code so that the most profitable corporations have to give up tax loophole that's other companies don't get. we can't afford to do both. this is not class warfare. it's math. >>...

we're talking about on wealthy americans. some of the taxes we have talked about before, limiting those itemized deductions that the wealthy take. closing loopholes on hedge fund managers, oil and gas companies, corporate jet owners and also letting the bush era tax cuts for the wealthiest americans expire when they are set to. also a little more than $1 trillion in war savings. of course, we do know that the wars in afghanistan and iraq are already going to be winding down. and that's something that republicans are hitting on. and frequently both sides have used this when they do th...

you're looking at live picture from the united nations. where all eyes right now are on this year's general assembly. president obama and the first lady, michele bachmann, expected to arrive in new york only minutes from now. at issue for the united states and much of the world this week, a showdown over the middle east. the palestinian authority president vowing to submit a formal application for statehood to the united nation's security council. it could have serious implications for the u.s. relationships with iz real and the arab world. much more on this part of the story coming ...

from the summer break. president obama has actively been meeting with some to create a plan. the question is how specific will it be and will it help? white house officials tell us it's a work in progress, and will include tax cuts and infrastructure ideas that could create jobs, and measures that target unemployed, and struggling economic sectors. they say the president is working on a debt reduction proposal and will present the so-called super committee, and as you know it's the 12 lawmakers tasked with cutting trillions from the federal deficit. their plan is due at the end of no...