response was hey, not so quick. don t give away the store. no support coming from the republican side. what you saw today from president obama is the suggestion he will portray this as the republicans protecting the top 2% from any tax increase. bret: do you buy that the democrats were that united in their own proposal going forward in this super committee? where was the democratic proposal? house republicans passed a budget, paul ryan budget. senator toomey put out a proposal, the details that would have gotten $1.2 trillion. is there a democratic proposal that we have seen? where is president obama? he is up there, terrible, irresponsible. where is his proposal? i didn t notice him coming back from asia or even before asia and say here is $1
congress must also create tax extenders for research and development credits for business, depreciation write-off for the company new purchases and the payroll tax cut part of the president s stimulus package. republicans held the line against raising taxes. they see that as a big advantage for them next year. and democrats held the line on issue of fairness and equity, which they believe is a big issue for them. essentially the issues that torpedoed the super committee will be the very heart of the 2012 election. voters get to make the deciding call. with both houses of congress only likely to work another two weeks this year, lawmakers will also face pressure to renew expiring benefits for the unemployed. over that and any other pending items looms the super committee defining committee; namely, how will it all be paid for? bret: a big question, james. thank you. senior political analyst brit hume is here with thoughts on why the super committee was a super bust.
unfortunate way, in his words for mitt romney to start. shepard: thank you, wendell, from the white house. the defense secretary panetta is calling for congress to avoid automatic budget cuts that he says would tear a seam in the nation s defense. the so-called congressional super committee failed to reach a deal on cutting $1.2 trillion from the deficit. if they tried, even. so, unless something changes before 2013 the automatic trigger is set to slash up to $600 billion from defense budget over a decade. and mike has the new live on capitol hill and every person involved in this knew this was coming, now they are change the rules they put in place. reporter: well, house armed services committee chairman said heel not preside over crippling the u.s. military so he says in the coming days, presumably of at turkey he will proposal legislation to revent the defense cuts. for more on the issue, here is
good evening. hi, bret. the failure of the super committee has been widely attributed to the partisan stalemate. the problem is less partisan than ideological. the battle over spending and debt is fought along the deepest fault line in american politics. republicans believe deeply that raising income tax rates for anybody including the wealthy is economically dangerous and politically suicidal. the sides wouldn t raise enough money. democrats with equal furlough, cutting the entitlement benefit to attack the crowning achievement of their party s driver for social justice. nancy pelosi is opposing any cut. super committee was only supposed to develop a plan to lop off an eighth of the projected deficit in the next ten years. surely you think they could split the difference. get a deal.
possibly head up this interim government. and among the names diplomatic sources confirm to us they are thinking about is the possible former head of the iaea mohammed el baradei, shep. the election is set for other things. what does it mean for those elections? the election in egypt that were supposed to take place on monday, shep, the people that are coming out and protesting tens of thousands, they are upset because there isn t regime change. so you are seeing some unlikely allies. the state department and muslim brotherhood are actually calling for the same thing. they want these elections to take place. on monday. and to go through and analysts are saying that the worst thing that could happen right now is for those elections to be delayed. shep, not just the images you are seeing in tahrir square right now. thee protests are taking place throughout 14 different cities in egypt. shep? shepard: reena ninan live this early tuesday morning. thank you. the super committee did ab