Deficit Agreement News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Debt by 2023 only ten years from now will equal 77% of gdp. that's roughly double the 39% average seen over the past 40 years. and president obama is asking lawmakers to take quick action as a march 1st deadline approaches that will trigger deep spending cuts. "the new york times" writes this morning that "mr. obama, who missed a deadline this week to submit his annual budget to congress, acknowledged on tuesday that a broader deficit agreement is unlikely to be reached by the march deadline. he provided no details about the tens of billions of dollars in spending cuts and tax adjustments th...

Future deficit agreement. if republicans think that i will finish the job of deficit reduction through spending cuts alone, if they think that is going to be the formula for how we solve this thing, then they have another thing coming. >> all right, you catch that. the white house seriously, no kidding around says they will not accept a bargain in which what they got was an increase in the debt limit. so was congress, and what they get is congress simply agreeing to pay its bills. that is not their payoff. they see it as a historic responsibility to end the dawning precedent that minorities in...

Scalpel. it may not always be the smartest cuts. so that's a piece of business that still has to be taken care of. i want to make clear that any agreement we have to deal with these automatic spending cuts set for next month. those have to be balanced. my principle has always been let's do things a balanced responsible way. that means revenues have to be part of the equation in turning overt sequester and automatic spending cuts as well as spending cuts. the same is true for any future deficit agreement. obviously we'll have to do more to reduce our debt and deficit, i'm willing to do more, bu...

Taken care of. and i want to make clear that any agreement we have to deal with these automatic spending cuts that are being threatened for next month, they have to be balanced. my principle is to do things in a balanced, responsible way and that means that revenues have to be part of the equation in turning off the sequester and eliminating the automatic spending cuts as well as spending cuts. now, the same is true for any future deficit agreement. obviously, we will have to do more to reduce the debt and deficit. i'm willing to do more but in a balanced, responsible way. for example, i'm wil...

Talking to republicans. they have had trouble saying yes to a number of repeated offers. i was modestly optimistic yesterday but we don't yet see an agreement and now the pressure is on congress to produce. >> that was president obama urging republicans to come together on a fiscal cliff deal. the comments drew a quick response to john boehner who said republicans made every effort to reach the balanced deficit agreement that the president promised the people. we have been responsible and reasonable. the president is the one who has never been able to get to yes. we are learning that the fisca...