0 over 170 million jobs that could be lost. >> 150,000 correct the number of job loss. >> 750. >> at least. >> that's insane. >> it's not even close to being true. watters and pelosi were misleading everybody. they don't know what they are talking about. in fact, a short time later watters' spokesperson said that the number is 170,000 jobs lost down from 170 million. that's just bull as well. nobody knows how the spending cuts are going to play out. what we do know is that president obama and his party tried to scare the american people into pressuring the republicans to allow mr. obama to continue the insane federal spending. that's exactly what happened. and now mr. obama is trying to walk that back because republicans are simply not going to cooperate with him until he begins discussing serious spending cuts. it's very simple. the president wants spending that will vastly expand the already catastrophic debt. republicans say enough. if we don't start imposing fiscal discipline the country is going to go bankrupt. talking points sees the issue very clearly. you wouldn't run your business the way the president is running the country. you wouldn't run your household that way. if you did, you would be in serious trouble. the country is in serious trouble. but the president does not seem to recognize it. meantime, the budget chaos continues in washington with the government shutdown looming by the end of march. talk about march madness. and that's the memo. now for the top story tonight reaction joining us from washington, fnc chief congressional correspondent mike emanuel and at the white house ed henry who covers the president for us. am i making any mistakes first of all in the talking points? >> the only thing i would say to this is that what the white house would push back on. two big pots of money. domestic spending that you are talking about that the president wants more of. give me more for education and infrastructure. et cetera. other big pot of money which is the entitlements which you have talked about again and again which is the really big pot of fine. but, what the president is talking about is changing medicare and social security. so, maybe raising the age. maybe having very wealthy people forego. all of that is what they call reform. entitlement reform. ed? it's not the same as spending. it's not the same as spending in 2013 or am i wrong? >> well, you are right. but the point is what the republicans are complaining about on medicare is that the president at one time was talking about changing the medicare age eligibility. democrats screamed and yelled about it now maybe that is off the table. in terms of the spending you are talking about separate from entitlements. you are right that the president wants to do more of that spending. he has been crimped in that what the republicans are trying to do is choke off more of that money on the domestic side because think don't want to see the president spending more. that's where he feels constrained right now. >> well, look, i want and i think most americans want entitlement reform because we know we can't afford it going forward. now, on the congressional side. you basically have boehner, mike, right? i mean, he is really the guy that everything swirls around. speaker of the house of representatives. or is there another player that i'm missing here? >> well, boehner is key. harry reid is also key as well. because and the frustration for john boehner and a lot of his allies in the house is essentially harry reid controls the united states senate. same party as the president of the united states. why don't they get together and figure something out and do something? there has always been the pressure on the house republicans to pass something. they want to know what harry reid is is doing about these major problems that are affecting the country. talk a little bit what you guys were talking about in terms of entitlement reform, john boehner will tell you to your face that the president talk as good game. he says in the private meetings that we need to address entitlements, but then his actions never follow up those words. they will say that liberal groups who come to the white house have a meeting with the president. all of a sudden entitlement reform will go out the window. bottom line they're asking for him to show some leadership. they seem happy with where things are today in the sense that the president seemed resigned to the fact that this was going to happen. he changed his tone a great deal, not so apocalyptic. they think that's a huge shift. i talked to a close aid to somebody who was in the meeting who said the president's energy was flat. he seemed resigned that the cuts are coming. and now he is going to deal with it bill? >> bill: so the -- you are telling me the republicans think they won this round here with all this chaos? >> well, they think, essentially, that tax increases are off othe table in terms of dealing with these automatic spending cuts they don't think the spending cuts are well managed they will have to address them in some way. the sky is going to fall and here we are on march 1st. people go to work on monday for many many americans their lives are going to be exactly the same. >> nobody going to visually change unless -- we have to wait and see how the thing comes out it's only 2.3% cut anyway which is not anything. now, does the president, ed, he took questions from the audience today he didn't call on you. i thought the questions were soft again. it's like, all right, look. you say you want fiscal responsibility, mr. president. put some numbers up. put some numbers up. how much do you want to cut the federal budget in 13 and 14 and 15? put them up on the board so everybody can see them. i don't know why these guys don't ask that question. >> sure. and he also didn't get the questions of the sequester is so bad why didn't your staff think of it. it was created in the white house. sure the republicans ending up voting for it so they bear some responsibility for it, too. >> that's a little complicated. i don't grasp. here is the simple one i think you are going to get this. in the last presidential debate which you will remember was on national security, bob schieffer asked about the sequester and the president said it's not going to happen. he said he wouldn't let this happen to national security, national defenses. it's happening. >> the reason he is -- the reason it's happening -- already, everybody should understand this. the reason that this is happening, because the president refuses to put numbers on the board. he just won't put them on the board. won't do it. so they're waiting. the republicans are waiting say hey, look, we are not going to do anything else until you come up with something that we can see. am i wrong? >> well, the president insists he had a plan on the table with boehner in december. that had real numbers. like $400 billion in medicare and medicaid cuts. as mike pointed out rightly though, republicans on the hill thinks the president says that in private and backs away. today at the podium behind me he insisted he will get behind it and make those tough choices. we will see in the days ahead. the other thing to watch the president was in newport news talking about how bad this was going to be and said i don't want to play the blame game. i want to solve these problems. >> bill: do you know what i think? i think we should make maxine watters secretary of the treasury. wouldn't that be great? thanks very much. >> she did not have a hold on the numbers. >> bill: she missed it by a little. next on the run down mitt romney's first interview since his crushing defeat in november. chris wallace has it. chris will be here. flamboyant basketball player dennis rodman cozying up to the brutal dictator of north korea. gutfeld and mcguirk on that as the factor continues from southern california. 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