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The government doesn't create wealth, it absorbs it, the private sector creates it. >> we are getting ready for the next round of what could be standoffs, the debt ceiling and battle back and forth between congress and the white house. do you think republicans now are going to use that lever again effectively? >> i think they'll try. the danger for them is that if they carry that all the way, brinkmanship to extract spending cuts or other spending reforms, and it results in government shutdown, the history of this has been that people want the government cut down but not shut down. when a shut...

$85 billion of spending cuts in effect. president obama and republicans are stalled over a deal to stop the spending reductions. the president is calling for more tax revenues. republicans favor serious spending reforms. >> rick: abandoned the search for a man in florida swallowed by a massive sink hole. engineers say the entire area around that house is so unstable, it's too dangerous to continue that operation. so they are now planning to demolish the entire home. >> arthel: the vatican says pope ematter us benedict is spending retirement praying, watching tv and taking walks. he stepped dow...

Well-to-do to expire. some of them. now he says it's the president's turn to lay out spending reforms. >> shepard: wendell, thank you. the united states troops and missiles positioned near the syrian border. the mission and the questions that come with that mission. live from the scene. how to kill an american citizen without getting in trouble? how the government can do exactly that without ever giving you a lawyer, without ever filing charges against you. how about the government just kills you? no problem. wait until you hear how this happened. in ameri today we're running out of a vital ...

His weekly address. >> it means encouraging businesses to create more jobs and pay higher wages and improving education and job training so that more people can get the skills that businesses are looking for. it means reforming our immigration system and keeping our children safe from the menace of gun violence. and it means bringing down our deficit in a balanced way by making necessary reforms and asking every american to pay their fair share. >> meanwhile, republicans stressing their agenda today as well. cutting spending. >> our nation's total debt is now larger than our entire economy. th...

"wall street journal." so, steve, politics is one thing. let's talk about the economy first and foremost here. what does this mean right now, not having an agreement? what kind of impact may it have on our economy? >> you know, it's amazing, jenna, about this story you and i been talking about this what, five weeks about the fiscal cliff. jenna: feels like forever, steve, by the way. >> it does. what this means, what happened yesterday, jenna it means we're no closer today to a deal than we were five weeks ago. as remarkable as that may seem. the republicans made one last-ditch effort yesterda...