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"taxmageddon" because it would increase taxes $500 million in the first year alone. they want the president to start now to prevent it. >> where what is the president's plan to stop the largest tax increase in history occurring january 1. >> reporter: automatic spending cuts in place under sequester agreed to last year. they say across the board cuts to domestic spending are too harsh and could be replaced with other cuts. democrats say there is another way. tax increases. >> move on revenue we could have had a deal a long time ago. the president said when we got together, the white ...

for his money last night? >> and cleanup on aisle 2011. rather, 2012. i'm one -- i'm a very big aisle over. the obama campaign backing off their bain is bad attacks and changing course to this. >> that doesn't mean the private equity guys are bad guys, they're not! that no more qualifies you to be president than being a plumber. >> really? >> do the president's years as a community organizer qualify him more? the white house will answer that promptly. >> and so much for civility. a south carolina union leader plays pinata with governor niki haley literally. >> comes around. >> this m...

office is predicting the economy will slink if several large tax cuts are allowed to expire at the end of the year. the cbo said that along with new spending cuts would hamer the economy. >> bottom line here they are predicted we will have another recession in the first half of 2013. >> the cbo predicts economic growth would slink by 1.3% a would only grow half a percent for the entire year. far less than even the slow growth since president obama took office. >> money is sucked out of the private sector by increased taxes. the government is taking that money out of the private secto...

sputter. >> our first extended glimpse of how mitt romney plans to respond to president obama's bain capital? >> turn the tables. i would like to also focus on his roar. what has he done as the president of the united states over the past four years? has he established the revitalization he promised to bring? did he hold unemployment over 8%? it has been 39 months. that hasn't happened. >> in that interview with time, go have romney says his years with bain taught him a lot about why companies succeed and fail. in each of his answers to four questions, he also took time to critique t...