explain the law. congress passed the clean air act in 1990. bush i signed it. many provisions of it have been upheld in the supreme court, including epa s authority to regulate greenhouse gases. so what the president is basically saying is, i went to congress, i tried to do it with you guys, you re not responsive. i m going to take the authorities you gave me previously, you gave presidents previously, i m going to take the clean air act and use it to regulate these dangerous pollutants. so if you take the overall emissions in the u.s. economy, how much of them are coming from power plants? a lot. the way people generally think about it, we have a third from transportation, a third from electricity generation, and then a third from buildings and industrial other stuff. other stuff. so this is a big, big chunk of it. one of the themes in the president s speech was natural gas and how important natural gas has become to the american economy. are you bothered by the fact t
investigation. we begin with the gabby giffords announcement. giffords released a video statement online just hours ago saying she has to focus on her recovery. i don t remember much from that horrible day, but i will never forget the trust you placed in me to be your voice. thank you for your prayers and for giving me time to recover. i have more work to do on my recovery. so to do what is best for arizona, i will step down this week. i m getting better. let s bring in athena jones in washington. so, athena, what kind of reaction is pouring in? well, we re getting a lot of reaction there was a lot of love and support shown to congresswoman giffords after the shooting last year. you remember in august when she returned to the house chamber to vote on the debt ceiling bill, she got a standing ovation from her colleagues. so today we have seen reactions from both sides of the oil. democratic leader nancy pelosi released a statement saying in part, i join all my colleagu
but you re not going to which is why jobs and the economy have to be the focus now. a trillion dollars over a decade s time is nothing. it s just a trillion dollars in a decade s time. the cuts are very minimal over the next two years. right. and i was with peter orzag last night, the head of the congressional budget committee. he said the contractual effects in the next two years are almost nothing. a huge opportunity may have been missed here in terms of all of the issues we talked about here, entitlement reform, tax reform. perhaps on the stimulus side, you might say, we should have done more stimulus, those are opportunity costs but not actual negative effects on the economy over the next two years. one issue they tackled for the first time, it sounds like, defense. big chunk. an automatic cut if the committee can t no doubt about it.
thursday starting right about now. welcome aboard, folks. live from studio e on this thursday, peter johnson jr. in for the vacationing brian kilmeade. good to be here. great to see you. we ll talk a little politics today because the gang of six of those three democrats and three republican senators who have been meeting vigilantly for the last couple of weeks to try to come up with the plan to get rid of or at least take a piece on the of our national debt. big chunk. they now have said they are going to have a plan. they re going to work overtime to may 2nd where they re going to unveil that. one of the things that spurred them along was probably that s&p rating that came out saying look, we may say that the united states economy is no longer stable but now that it could be in a negative zone. so the good news is dick durbin, the senator says they re really close to a deal and apparently, their deal of the
the president will also talk about strengthening medicare, medicaid, along with social security. these three entitlements make up a big part of the budget but cutting them koult have to do with a big part of it. if you look over the next 11, 12 years, $40 trillion. it makes up a big part of the budget. they say 40% of the budget comes from entitlements like social security, medicare, medicaid. look at this. 24%. that comes straight from medicare. 12.8% from medicare, 7.28% from medicaid, 20.4% from social security. pardon me. that s a big, big chunk of the budget. these are places where changes can be made. but people in washington are reluctant to it, hesitant to do it because people paid into these and they want them, right? so these so-called entitlements. if you look at this, this is