Supercommittee Failure News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Himself, but he has to have a strong congress that can move forward. i think when you are talking the supercommittee failure, the problem is, it's like the boy who cried wolf. all of a sudden, everybody was saying if you can't figure it out with the supercommittee, we are going to fail, completely. the economy is going to go into shambles. the american people are like again? once again they are getting used to failure. they are getting used to people being noncommittal. when you look at the polls, the ones who lost big are the republican party because of the -- go ahead. >> i want to say that ...

Had the supercommittee been successful, we'd have seen those cuts coming out of the big entitlement programs, the social securities, medicare, medicaid, affordable care act, and had those cuts occurred, they would have taken a long time to implement, they'd have been relatively modest up front and gotten larger as the decade progressed. instead with the failure, we're going to get across-the-board cuts in annual discretionary spending, they'll happen right away, and we'll see a lot of pain at the state level as well. half of those cuts will come out of the defense budget, so those states with ...

Gregg: you know, i ran into norquist, we had an off-camera conversation, and he predicted the failure of the supercommittee and suggested, you know what in that's not a bad thing. and then he explained why. he said, look, the cuts don't kick in until 2013. in the interim, of course, there's a huge election. that could change the political landscape in such a way, presuming that republicans win and i think that's what he was intimating, such that major tax reform could be undertaken and then voluntary, severe and deliberate spending cuts could also be undertaken. i mean, is that a pretty good p...

Funding shortfalls, and this impacts everything from school lunch assistance to home heating health. heather: is it possible that congress can maybe come up with new spending cuts before the end of the year? is that possible? >> it's possible. and that's something we're kind of waiting to see. congress has a lot on its plate now starting next week because so many things expire at the end of the year. we've got payroll tax cuts, long-term unemployment insurance, a whole lot of stuff. but it's possible that congress as a whole could try to pick up the pieces after the failure this week of the de...

Depot in high yachtville, maryland. officials say apparently it looks like the driver of the car passed out behind the wheel, lost control. they say that a passenger, though, in the vehicle tried to steer away from the people but ended up crashing into a wall. several others were injured, no word on their conditions. greg tbreg and back to our top story, funding for school lunches, home energy assistance, even hiv care now all on the chopping block, just a few of the state programs at risk after the failure of the deficit-cutting supercommittee. doug holtz-eakin is the former director of the c...