Captioning sponsored by wpbt this is n. B. R. Tom good evening. Im tom hudson. The sequester is here and the federal Government Spending cuts will soon be enacted. Susie im susie gharib. Good evening, everyone. Well look at what sequester means for the u. S. Economy, jobs and the markets and how long it may last. Tom one bright spot for the economy auto sales. February was another strong month of sales. Susie that and more tonight on n. B. R. Tom before midnight tonight, the sequester takes effect. Those automatic spending cuts will trigger federal government furloughs, cuts in government contracts and cut backs in federal services. Congressional leaders met with the president this morning to talk about the situation, but no one expected a break through and no one was disappointed. Our Washington Bureau chief darren gersh tonight on what happened and what comes next. Reporter by now, you know how this story goes. After the lastminute meeting at the white house, the speaker emerges grim
And maybe that will start to resonate out there with the American Public and maybe then well be able to move forward with some sort of more reasonable fiscal path to the future. Reporter by easter, hoagland expects the sequester pain will probably be bad enough to force some sort of compromise, if not how bad is it going to be . What im hearing from a lot of people is the feeling this whole sequester thing is way overblown, is it . Okay, play the washington number game with me for a minute. You heard the 2 number. Oh, its only 2 of federal spending over the next 10 years. Its no big deal. But theres another washington number which is because of the way the sequester is structured, its 10 to 13 in some programs this year. And thats going to cause some pain. Susie all right, well, talk us through this a little bit. I mean, you have said that the automatic spending cuts are going to be gradual. They officially kick in at midnight tonight. So talk us through what happens after midnight. Re
And maybe that will start to resonate out there with the American Public and maybe then well be able to move forward with some sort of more reasonable fiscal path to the future. Reporter by easter, hoagland expects the sequester pain will probably be bad enough to force some sort of compromise, if not how bad is it going to be . What im hearing from a lot of people is the feeling this whole sequester thing is way overblown, is it . Okay, play the washington number game with me for a minute. You heard the 2 number. Oh, its only 2 of federal spending over the next 10 years. Its no big deal. But theres another washington number which is because of the way the sequester is structured, its 10 to 13 in some programs this year. And thats going to cause some pain. Susie all right, well, talk us through this a little bit. I mean, you have said that the automatic spending cuts are going to be gradual. They officially kick in at midnight tonight. So talk us through what happens after midnight. Re
No one was disappointed. Our Washington Bureau chief darren gersh tonight on what happened and what comes next. Reporter by now, you know how this story goes. After the lastminute meeting at the white house, the speaker emerges grimfaced. The discussion about revenue in my view is over. Its about taking on the spending problem in washington. Reporter cut to the White House Briefing room. The president says hes been reasonable. Some tax cuts, some spending cuts and some entitlement reform. Thats his prescription for budgetary pain. And since republicans wont accept it, the president says the middle class is about to feel the pain of those automatic spending cuts known in washington speak as the sequester. I dont anticipate a huge financial crisis, but people are going to be hurt. The economy will not grow as quickly as it would have. Unemployment will not go down as quickly as it would have and there are lives behind that. And thats real. And its not necessary, thats the problem. Report
Z is here. And is reforming medicaid the next target for republicans, congresswoman Marsha Blackburn is live as we look ahead on new years eve on sunday morning futures. The head of the House Intelligence Committee is blasting the department of justice and the fbi for failing to turn over documents tied to the largely discredited anti trump dossier. Fox news obtaining a letter congressman devon nunes sent to Deputy Attorney general Rod Rosenstein suggesting the fbi and Justice Department should be investigating themselves and demanding all records by this wednesday. Joining me right now is Florida Republican congressman ron desantis a member of the House Oversight and Judiciary Committee happy new years eve so good to see you congressman. Let me ask you about this letter here from representative nunes. Putting that deadline on things how does that change the equation right now . Will they need it . Well i think the letter was great and i applaud chairman nun es for doing that. I think