Debt Reduction Bill News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Now. >> megyn: fox news alert on the new detail coming to light what just came in in the last minute deal. to head off a series of the tax hikes and spending cuts we were expecting. welcome to "america live", happy new year everyone, i'm megyn kelly. we're learning more about the budget deal congress passed late last night. this started out as a debt reduction bill and ended with spending and increase the nation's debt. didn't work out exactly as planned. the bottom line, this law will provide 620 billion dollars in new tax hikes. and 15 billion in budget cuts. and for those of you keeping tra...

Increase this bill and basically that is going to be a problem when house conservatives hear that this is actually going to increase the deficit. there will also be a problem for the credit rating agencies who have warned congress they may downgrade the nation once again, that is going to be the problem here. that is the delicate thing that mitch mcconnell and joe biden have to do. they have to get a deal. we are talking smaller and smaller deal and that is going to be a problem, because this may not actually reduce spending. >> reporter: really quickly, though, people wonder why the negotiati...

About what they are doing here. >> i think the reason simon doesn't like it is because it gives the republicans leverage to force the president to deal with the debt. the president has as much chance of succeeding as you have of getting john bolton to cry on your show. megyn: i think i can do it. a challenge? >> i bet you can. in the last 27 years, every significant debt reduction bill that passed starting with graham rosen has been linked to a debt limit increase. this is the only tool in washington that forces both sides to do something about the debt and spendersing. so republicans aren't g...

Give him all the leash that he wants, he just wants to sleep on the floor. >> the money is there and the possibility is there when confidence comes back, it could all come back in hyperspeed and that's what we all hope. thanks a lot, dick morris. >> thank you. >> coming up straight ahead, this guy on the right you're about to see, that's van jones, one of the obama administration's most controversial czars. but vice president joe biden doesn't remember. he used to work for him or with him. >> really? and something secret got slipped into the debt reduction bill. a law that makes it easier for ...

you can see what looks like something possibly breaking off the tail of that plane. this was just after this. the plane veered out of control and crashed into the crowd. investigators say they are now focusing in on this picture. >> a component has been recovered in the area where that was observed. but i think it is critical at this point to know that we have not identified the component. it will be examined so we don't really know what the component is or if it even came from this particular aircraft. we are very clearly going to focus on that and that's part of the factual informa...