created the supercommittee requires that $1.2 trillion in cuts starts in 2013. if the supercommittee doesn t figure it out, if congress doesn t pass something to cut that much, then automatic cuts kick in. automatic cuts in defense and domestic spending are triggered by congress failing. the committee s statement announcing they failed to reach a deal today, democratic senator patty murray of washington and republican congressman jeff hencerling of texas said they hope they find some way to move forward. republican senators john mccain and lindsey graham are trying to figure out a way to get everybody out of this mess, trying to figure out a way to undo the trigger, undo the bill that was already passed and signed into law. they say they re writing legislation to prevent those automatic cuts from ever going into effect. same goes for congressman buck mckean, chairman of the armed services committee e in the
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cuts starts in 2013. if the supercommittee doesn t figure it out, if congress doesn t pass something to cut that much, then automatic cuts kick in. automatic cuts in defense and domestic spending are triggered by congress failing. the committee s statement announcing they failed to reach a deal today, democratic senator patty murray of washington and republican congressman jeff hencerling of texas said they hope they find some way to move forward. republican senators john mccain and lindsey graham are trying to figure out a way to get everybody out of this mess, trying to figure out a way to undo the trigger, undo the bill that was already passed and signed into law. they say they re writing legislation to prevent those automatic cuts from ever going into effect. same goes for congressman buck mckean, chairman of the armed services committee e in the house. however, it looks like he will have to get around house speaker john boehner. speaker boehner says he does
clayton talked about, cutting social security benefits. this is a democrat, mind you, and the key there raising the retirement age from 66 to 70, which would save this country boat loads of money needless to say. a little bit more about alice, she is an economist, she was the first director of the congressional budget office, she s seen as being very no nonsense so she is talking about things that as these guys have said, are just political third rails, no politician will talk about it. you have heard economists say if you want to reduce the deficit you must tackle social security and medicare because otherwise you re trimming around the margins. right. and we talk about the entimement, story, not entitlements, the ear marks, a percentage or two of the budget. a percentage or two. congress says if you want to do this, social security, medicare, and defense spending and you cannot keep sticking your head in the sand from this. but this is jeff hencerling from texas on the plan i