from the congressional super committee. the panel charged with slashing 1.2 trillion dollars from the federal debt meeting in small groups within considering a number of options. one of them a new plan that would include revenue hikes, but it s unclear whether that means tax hikes, and it s unclear whether they are going to meet this looming thanksgiving deadline. mike emanuel live on capitol hill. i love that people find promise in the fact there have been more meetings and they are smaller. reporter: exactly, megyn. democrats seem cool to the latest offering from the republicans on the super committee. the republicans argue you can raise $300 million in revenue if you modify the tax code, lower the rates and close up some of the deductions a lot of people make their taxes. but the democrats seem cool to that. the co-chair patty murray says there has to be real tax revenue
shepard: time is running out for the so-called congressional super committee to cut the united states deficit by more than a trillion dollars. as we head into a critical week. one key democratic lawmaker is predicting a massive failure. the new york senator charles schumer today saying and i quote i don t think the super committee is going to succeed. if he is right, and these folks can t bang out a deal by the time thanksgiving rolls around, there will be enormous consequences. $1.2 trillion worth of automatic spending cuts to be exact. set to kick in 2013 through a process called sequestration. a lot riding on the deal for the nation s military and medicare. both sides weighing on a potential backup plan. congress cannot bind of actions of future congresses so the sequestration is not engraved on golden tablets. i think we would have sufficient support to prevent
. i have great respect for each of you individually. but collectively, i m worriedç you re gonna fail. fail the country. chris: erskine bowles co-chair of the debt commission sounding the alarm that the congressional super committee will fail to meet its deadline to find 1.trillion in deficit cuts. 100 members of congress representing both calling for the super committee to go big and cut theç national debt by four trillion. joining us the congressman leading the group of 100 north carolina democrat heath shuller and congressman mike simpson. welcome. let s start with the letter that your group, 60 democrats,
signs of optimism this morning that the congressional super committee can reach an agreement on cuts to reduce the national debt. the lawmakers on that committee have only about 17 days to find a way to eliminate at least $1.2 trillion from the deficit. 100 lawmakers from both parties signed a letter this week saying they are ready to make compromises and suggested going for bigger cuts. one of them connecticut congressman jim heinz gave us his take yesterday. i m optimistic that they can get at least a 1.2 trillion done. i m not sure to use optimistic around the $4 trillion deal. joining me from colorado. eleanor clift from the daily beast. good morning, eleanor. good morning, alex. you wrote a story about the potential for optimism. do you think lawmakers can reach a deal? yes, i do. first of all, it s not that hard. we have at least three road maps
union. the leader of the western world was wrapping up a meeting with world leaders dominated by the debt crisis in europe when he was reminded of oncoming u.s. elections. the least of my concerns at the moment is the politics of a year from now. no one believes him, of course, but there are people who get paid to worry about the president s re-election bid and there is cause for concern. usa today and gallup polled 12 swing states the president carried in 2008. they found that in late october he was running a close race with mitt romney, herman cain and rick perry. nearly two-thirds of swing state residents say their families are not better off now than when president obama first took office. joining me now for a look at states in play, maryland governor martin o malley, who heads the democratic governor s association. thank you, governor, for being here. thank you. let s talk first about the president s prospects. that is a fairly grim at this point look at the