exactly the same targets the supercommittee was already looking at in its search for ways to trim decifit spending by some 1 1/2 trillion dollars over the next ten years. the president mentioned three possible sources of money: eliminating or reducing tax deductions, making changes in entitlements such as medicare and medicaid, and making the better off pay their, quote unquote, fair share, as he puts t. a reference to tax increases. on the first one, trimming $1.1 trillion in annual tax deductions, the supercommittee was already taking aim at those with some democrats and republicans in agreement. listen: we have to balance, clearly, we have to be fair, we have to include ref news, not just spending, and also, revenues. when huge iconic american corporations can pay little or no income tax, that s indefensible. reporter: so members of both parties are ready to trim tax deduction, but republicans hope to use some savings for decifit reduction and some to lower
pre-bailout, pre-binge spending levels for funding the federal government. we know that a great deal of hard work and tough decisions lie ahead for every single member of this institution. reporter: so jenna republicans are not just expecting the president to tackle decifit spending, they re planning to insist on it. jenna: jim, the white house is talking a lot today about investments, suggesting that the president wants to increase spending in at least some key areas. what can you tell us about that? well, the white house mentions education and infrastructure as they talk about investment, even as one presidential aide after another also says we have to get our fiscal house in order, republicans are a little more than skeptical about the term investment. in fact, senate republican leader mitch mccom talked to reporters this morning and said investment as you know is latin for washington spending. he also argues that if government spending produce add robust economy we d be roaring
to be a very difficult election cycle for them, probably since about april of 2009 when president obama s approval rating started to drop and there was broad anxiety about the stimulus project, decifit spending, things like that. so democrats have known for months and months and months this was coming, so they ve been able to turn to groups like labor unions who have been their traditional ally and other people like pharmaceutical companies and others, big corporations that have wanted to be part of the legislative process as this goes forward. so this has been a big advantage for them, and in cash flow, throughout the cycle. skwr ep jen so they have a bit of a head start is what you re saying. we kept hearing about the secret foreign money that s pouring into the republican campaign from different quote unquote advocacy groups, so the figures we re seeing again today, does that include that secret money, and if that s the case, are democrats still out raise outraising republicans?
the suburbs as well, california congressman kevin mccarthy says if you can t win the suburbs you can t get to a majority. it s as simple as that. just because it s simple doesn t mean it s easy. political analysts say supporters put a premium on confidence and trustworthyness, they don t like extremism and decifit spending so the decifit plays against mr. obama but if he makes the case that republicans had no agenda other than trying to block his that may work in his favor and the tea party is the tossup, it remains to be seen whether it will be seen in the suburbs as competent, truth worthy or mainstream. jenna: wendell goler at the white house, thank you. gregg: utah police now accounting a reality television show family for bigamy. the show is called-sister wives , it premiered sunday on tlc, 41-year-old salesman cody brown has four wise, he married one in a legal ceremony and the others appear to be common law spouses. there are 13 children in all, three stepchildren,
because if people like barack obama again, believe and trust him, those handful of points, all we need to do is close that nine-point gap that republicans have as the advantage, in the wall street journal poll for likely voters, that s huge for november midterm elections. megyn: rich, mary ann speaks for a lot of democrats, because this is a senior adviser that said to politico, and i quote, i think we ve lost the president s personal naif tiff in the story he s been telling about the economy. we recognize that. and you re going to see a change. is that the solution, grandma obama? look, his grandparents are fine people, his mom was a fine person, but we can all hail the sacrifices he made to they made to raise him, but when the unemployment rate is at 9.6% and you might be unemployed or worried about your job, you re not going to care a fig about barack obama s grandparents. it s just absurd. the problem here is the polices and their effects. the polices have not worked. you hav