Steep Budget News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Investigations. my question for pelosi in a round-about way i'll answer you, do you anticipate a budget deal? i mean, huge, steep budget cuts going into effect beginning of next year. based on the president's behavior, do you believe you'll be able to sit down and work with him to prevent billions of dollars of spending reductions aimed at the pentagon and domestic spending in january? a critical question will have impact on the economy, the country, something we need to get our minds wrapped around over the next couple months. >> anna, also it seems as if based on two court decisions this wee...

Congress has to say, and our argument and our -- save and our argument and suggestion is move it in a very clear way so that the senate has an option to move it and to move it quickly. jenna: let's talk about the trajectory if i can get it out, the trajectory, of government spending, as we take a look at this new report from the gao that talks about upwards of $200 billion in wasteful spending, of redundant spending. how does that make you look at the $61 billion in cuts that you're proposing? >> it looks like the $61 billion is a good first start. but i think the gao, that report really echos...

One part of that plan, the proposal to end collective bargaining rights for state workers, some of those collective bargaining rights, not all of them. this is what sparked of course all of these rallies, jon. jon: but governor walker is undaunted, he's set to reveal even more controversial cuts, including slashing the budget for schools across that state. mike tobin is live in madison, wisconsin. i guess this is d day, huh mike? >> reporter: it is. expect a lot more gasoline to be thrown on the fire out here as governor walker addresses the budget and a $3.6 billion projected shortfall over t...

Explosion, but they didn't pick anything up there. jenna: scary stuff. thank you very much. jon: new developments to bring you in what could be the next phase in the fight over union rights. the steep budget cuts we could see today in the state at the epicenter of all this battling right now. plus, hitting international drug cartels where it hurts. we ride-along with an antigang task force. it is a fox news exclusive. [ female announcer ] this is not a prescription.

Less. we'll see what happens the next couple of days. i think we can get through this. it's critically important if i can make one quick point, even as we are debating the budget and working on spending cuts and reducing the deficit, we cannot lose sight of the necessity to be creating jobs or creating incentives that will lead to job creation to grow the economy. jenna: how does this new report from the gao about wasteful government spending change or affect the conversation you're having? >> i think it will have a very significant impact and it should. we have to make sure that federal agenc...