let s bring in the panel. steve hayes, senior writer for weekly standard. a.b. stoddard associate editor of the hill. syndicated columnist, charles krauthammer. steve, look at the numbers and you can see what elmendorf said today and put it in political perspective. it s scary. it s a virtual certainty that nothing will be done about this before the election. everybody is operating as if nothing will be done because it doesn t make sense politically for either party to do this. the problem with the fiscal cliff among others including the fact it would end us in recession as suggested, mainly cut in discretionary spending and mainly to defense. it may have a short-term impact on the budget trajectory but it doesn t solve the long-term fiscal problems. it does nothing on entitlement. it really doesn t channel the structures of the entitlement driving the national debt. it s a short-term hit we d
and recreate job. charles, thank you. you got it. megyn: again, if you read the full report from the congressional budget office, you will see they expect unemployment to rise and economic growth to slow down over the next 18 months. however, if you were watching this show a few days ago, you heard president obama paint a very different picture. listen here as he spoke to a democratic leadership group late last week. we did not tip into a great depression. the auto industry was saved. credit started flowing to small businesses again. and over the last 22 months we have seen three million jobs created, the most jobs last year since 2005, more jobs in manufacturing than we ve seen since the 90s. megyn: and the president went on to say, quote, we have righted the ship. so how do these two men, elmendorf at the cbo and president obama, wind up with such different views from the same set of numbers? what s really going on with the
all i can say is that secret is unleash small business and let small business create jobs. the best way to do that is reduce taxes and reduce regulations. you know, i think we re going to have to repeal obamacare because that, that is going to cost in taxes and penalties, $1.1 trillion over the next number of years. it s going, according to the doug elmendorf, dr. elmendorf, the head of the cbo it will cost 800,000 jobs over time that is pretty big. jenna: i m glad you brought up the director of the cbo because he was speaking to the supercommittee earlier this week about deficit reduction. right. jenna: one of the things he said and i m paraphrasing this a bit. if you want to keep taxes where they are or lower them, you re going to need to severely cut entitlements. that is what you re going to have to do. so what entitlements are you willing to take a look at and start doing some cutting on? first of all, i don t think you do have to cut entitlements. we have 214 tax expenditus,
it s a responsible plan on jobs, so that means covering any costs into the long term. as dr. elmendorf said, you don t want to ruin the economy by making devastating reductions in services today to pay for important opportunities to increase jobs. we have to be serious and make sure we get the economy back on track and long term we get the markets back on track. pull back on the process you re going through. i know you had a meeting or two, meetings with just your democratic colleagues on the supercommittee but also with the full roster of the 12 members. how is this process going to work? normally in a congressional bill, there are committee hearings, this or that. are you guys going to take up bowles-simpson? explain to me what you guys are doing process-wise right now? well, the answer in a sense is yes, yes to everything you
because i don t feel we are getting the straight talk here. brown says he thinks the army knew about the management problems at arlington as far as back, shep, as 1997. shepard: wow. trace gallagher in l.a. thanks. a u.s. military plane crashing in alaska killing four people that plane on a training run when it crashed elmendorf three of the victims were members of the alaska national guard the other active duty at elmendorf. c-17 four engine plane wing span of 170 feet. a witness described that described that impact. huge bang. a large fireball. we could feel the heat on our faces and it was just surreal. very shocking. very upsetting. they were practicing in there for an upcoming air show. base officials still deciding whether the show is to go on. president obama reaching out to female voters by appearing on what he joked was a show that his wife michelle actually