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

And apply it to deficit reduction. i think that is as an independent as somebody who has looked at the issue as to me this is a reasonable way to do it, particularly when you look back to 2011 when we started this deficit reduction process, and if you add what has been done since 2011 in the way of cuts and revenues and to the budget that was passed yesterday, it comes out 65% cuts and 35% revenues. that is a reasonable balance that the american people can p support. >> all right. senator angus king, we have to leave it right there, and thank you for your time this morning. >> thank you. glad ...

>> that's reasonable, is it not? come on. >> let's bring in right now, we have over at the white house, we're going to be able to talk to the director of the national economic council, jegene spurli. you've been listening. >> nice to have you. >> thank you for dropping by. you've been listening to this discussion and it seems like there may be a middle ground on tax. a lot of people don't understand why warren buffet pays 14% in taxes and people making over $500,000 spend and average of -- >> 18.8% effective tax rate. >> can we get a lot of more revenue by closing these loopholes for the wealt...

It would suggest they did, in fact, make a calculation error or misunderstood the direction of this deficit reduction process, and they would lose credibility. let me say, also, most of the rating agencies, in my mind, anyway, have no credibility. they missed the subprime crisis, ignored things in europe that led to their crisis and downgraded entities after the fact. just like the horse has been out of the barn for quite some time on european debt, certainly on u.s. debt. the fact they're doing it now seems somewhat ill-timed and looking at the ramifications of it, somewhat ill-advised as wel...

Is, this comes after house conservatives balked at the speaker's plan and that was before the congressional budget office came out and said that the speaker's plan wouldn't save as much money as it originally promised. you had the speaker's office, and harry reid's office, they were actually trying to come together with some sort of plan, either the merge the two plans, which have very similar, or come up with something else before these votes happened. but things are stalled and guess what, the same thing that's falled reid boehner, it's the same thing that failed mcconnell reid back in the d...