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there was plenty of talk about the dire consequences of the looming fiscal cliff. we're talking about tax cuts expiring for everyone automatically, payroll taxes going up, emergency unemployment benefits ending and, of course, the $1.2 trillion in so-called sequestration cuts. about half of that sum is going to come from defense. >> the obligation of the commander in chief is to act like the commander in chief, and that wld be to prevent these cuts, which in the words of his own secretary of defense, would devastate our national security. >> interesting, acting like a commander in ch...

with four days before congress high-tails it out of washington, there was plenty of talk about the dire consequences of the looming fiscal cliff. we're talking about tax cuts expiring for everyone automatically, payroll taxes going up, emergency unemployment benefits ending and, of course, the $1.2 trillion in so-called sequestration cuts. about half of that sum is going to come from defense. >> the obligation of the commander in chief is to act like the commander in chief, and that would be to prevent these cuts, which in the words of his own secretary of defense, would devastate ou...

Spending over the next ten years, a person with a 50 to $99,000 bracket, pays an additional $38,000 and change in new taxes, if you are in the 100 to $199,000 bracket, you will be paying an additional $101,000 over the next ten years. are you liking that so far? can you write a check for the $101,000? by the way, if you want to calculate how much certain spending items will cost you? here's a great tool and i hope you will use it. go to foxnews.com/your money. foxnews.com/your money. take a look at some of the interactive taxpayer calculators that are there. you don't have to take my word for ...

Spending over the next ten years, a person with a 50 to $99,000 bracket, pays an additional $38,000 and change in new taxes, if you are in the 100 to $199,000 bracket, you will be paying an additional $101,000 over the next ten years. are you liking that so far? can you write a check for the $101,000? by the way, if you want to calculate how much certain spending items will cost you? here's a great tool and i hope you will use it. go to foxnews.com/your money. foxnews.com/your money. take a look at some of the interactive taxpayer calculators that are there. you don't have to take my word for ...

>> reporter: well, i missed you as well. i almost got hit by a truck here -- >> i didn't know they had trucks back there. we were listening to the press conference earlier today with the president. it was about the budget. you were right there in the front. i want to ask you about that. the president was being asked about his cuts and the priorities in the budget. he used the expression, using a skal pep as oh possessioned to a machete. if you're one of those people seeing their taxes increased or not getting assistance on your heating, it feels like a machete. >> reporter: you might beg to di...