Page 2 - Process The Commission News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Every time government spending is a proportion of the -- as a proportion of the economy goes up which happened say from the mid 1960s to the early 1980s, the stock market gets worse and unemployment goes up. when we bring it down, as we did from the early '80s, for the next 20 years, stock market gets better, economy gets better, unemployment goes down. so we know what has to be done, spending restraint, get taxes off the backs of american people and american businesses, stable the dollar instead of treating it like trash. this economy will come back. the government should leave the rest of th...

Have, and some analysts say that down the road, having such a panel may create the argument for a tax hike. major garrett joins us at the white house, that is a question, is it an executive order, not a law so exactly what is the commission capable of doing. >> reporter: there are two questions here, there is process and policy. and, let's take them in order, the process is, executive order, congress is not required to follow any of the recommendations, of the commission and the president is not either, unless he decides to. 18 members, according to the conversations i have had with members of...

Administration's budget in the past ten years. i know, the issue of deficits has stirred debate. and there are some on the left who believe the issue can be deferred, and some on the right who will not enter into serious discussions about deficits without pre-conditions, but those who preach fiscal discipline have to be willing to take the hard steps necessary to achieve it and those who believe government has a responsibility to meet these urgent challenges, have a great stake in bringing our deficits under control. because, if we don't we will not be able to meet our most basic obligations t...

Of the same people that the fingers get pointed at for jacking up the deficit to begin with, the financial sector, was the first group that was named for reckless spending, and for the -- from the financial sector and talked about the corporate loopholes that allow oil comes to, you know, not pay the taxes i guess that the president believes they should pay, and also said those who preach fiscal discipline which usually comes from the conservative side of the fence, that they need to sort of put their money where their mouth is. what did you think of that. >> he'll applaud the intent and certa...

Expected. let's hope that is a one-time thing for the month of january, folks. and we're a few minutes away from the creation of the president's so-called debt commission. okay? looking live at the -- inside the white house, president obama expected to step in front of that podium, about 10 minutes from now. he will sign an executive order establishing a new national commission on fiscal responsibility, and reform. bill: what is that. martha: we'll find out, right. good morning, welcome to a brand new our of "america's newsroom," i'm martha maccallum. bill: and i'm bill hemmer, the group dedic...