Page 36 - Sequestration Cuts News Today : Breaking News, Live Updates & Top Stories | Vimarsana

That game. he said it again tonight, the good faith and credit of the united states is not going to be put at risk, he said. he raised a point that has been raised many times, congress cannot take away the ability to pay the bills that congress has incurred. he laid down that marker. the question remains, congress has to vote to raise that debt ceiling. that is simply the fact. the debt ceiling has been hit yesterday on december 31st. because the treasury secretary is able to move around some sickout and by about two more months, the sequestration cuts that the president spoke about will be de...

Entitlements. nothing touched there. no, it was going to be touched. the president even said, he told david gregory, yeah, i'll do a deal to adjust social security payments in the future, which would save a lot of money in the first decade, but the next decade, wow! that would have made a huge difference for us fiscally. republicans somehow mismanage it and blow that. they don't get that. the military industrial complex, growing at such an alarming rate. we don't cut a dime on that. in fact, we have the sequestration cuts that are supposed to go into effect, which would push off! we always pus...

Raise considering this fiscal cliff situation and the breaking news is no voice in the house tonight. how will it end up? >>reporter: it will end up how we have always known which is republicans are going to agree to an increase in the tax rates for the highest earners. in exchange they will not get a lot. but there will be an agreement. they are haggling over the amount, $250,000 to $400,000, around that and concerns about sequestration cuts. i have talked to senator whose say they could live with the taxes but the automatic across-the-board cuts especially in defense, because the sequestrati...

Off. he is going to come back with a larger plan, the obama tax cuts. then he will be able to reinstate those across-the-board sequestration cuts to gut things like defense, national institutes of health. he will be able to reinstate a lot of programs and give his caucus the opportunity to say, look, i am voting for something and to restore tax cuts for the middle class. i am voting to restore the great things. and the republicans are going to be in a really tough position because no one's going to say, let's vote to restore the tax cuts for the rich. this is his game plan from day one. >> wha...

And i think it's two reasons. one, if we go over the cliff, i think democrats actually think the politics favor them, that the public is likely to blame republicans and the negotiations gets easier from their perspective, and on the republican side, the reason they think might go over the cliff, the real deadline isn't january 1st but when the debt ceiling comes due in eight weeks or so, and so neither side really sees this january 1st deadline as that big a problem. democrats think it gets better for them and republicans think the real game starts in eight, ten weeks. >> so let's make our pre...