for a week. i mean that, makes no sense. when you get in the new york times, on their editorial page yesterday, had a long list of the things that are going to be cut. it is idiocy. if you look at the national institutes of health, they re going to take a 5% cut. what it does to their grant programs is it takes a meat ax to them. this is the crown jewel of american science where the breakthroughs in a.i.d.s., heart disease, cancer have come through. if you put this to a vote to people and said, is this what you want to cut, i suspect 80 to 90% of the people would say no. 80 to 90% of the people don t want to cut anything. if you get to a situation where we start thinking about a simpson-bowles program, it sounds nice in theory, but if you actually read it, which 90% of the people i would gamble
sway boehner at all. we ve seen the stalemate because of that, and cantor and rooen are going to keep boehner on the right. people outside the process are saying this is the dumbest way to do business, to have a meat ax approach and have across the board cuts. yes, it does achieve some budget savings, but does it not in any kind of intelligent way of planning. which is why if you talk to the people on capitol hill, the people who are making these decisions, they say that down the road if there are huge economic damages i mean, we don t really know what s going to happen to the economy if the sequester stays in place. the theory is it s going to be pretty bad. congress could back fill some of those cuts april or may or down the road, could dump them a little bit more money to the pentagon and try to offset some of the damages. right now we really don t know, and there s really no one that has proposed anything that could pass both chambers at this point. jake sherman, thank you
$85 billion, in the deficit. not in programs, but in the deficit, raising some taxes by ending certain loopholes. one of which you picked up just a few moments ago, the google thing is unconclusionable. that s a law we need to change it. we ll bring money into the treasury in doing so. so we need a balanced approach to this. the military cuts have been proposed. at least by our team to be stretched out over the next five or six years, immediate cuts not to be made, but rather to do wise, thoughtful cuts. as the troops come home, we know there can be some reductions and we know there can be reductions on the discretionary side. but we have to be thoughtful about it. unfortunately, sequestration is anything but thoughtful. it is just a meat ax to everything and it is very, very damaging. we ought not go there. we do have two weeks. let s get back to work. let s go vote and get something done. can do you that, because congress is in of next week. doesn t sound like there is
important as the long-term with our economy. it s we are facing a situation with these deficits that in three or four more years, the deficit s going to be down to 600 or 700 billion dollars a year which is an enormous amount of money and then we re going to have another recession and it s going to go up to 1.5 or even more trillion dollars and we re not going to be able to deal with it and if we have inflation which we re going to have at some point we won t be able to pay the debt service. and now it s in the long run we ll be dead with his policies and that s where we are now, we ve got to deal with the long run and forget about the short-term. brenda: and john, that s actually only one more quarter of negative gdp we ll be in recession? sorry about that. all cuts are good as far as i m concerned, but a meat ax is a little bit of exaggeration, this is more like a butter knife that these cuts are so small, there s nothing there and he what i would like to see is the government
evaluate and they ve received nearly a dozen calls from stranded home owners and on new york s long island, hundreds of motorists abandoned their vehicles along a major expressway, last night. emergency crews, they used snowmobiles to rescue people and many who suffered out a long, cold night in their cars. from a cold and snowy new york, now back to bulls and bea bears. brenda: so, we re less than three weeks away from those automatic spending cuts kicking in and both sides wasting no time playing up the fear. the white house releasing a laundry list of programs it says will take a hit and house speaker john boehner saying this. i think it s taking a meat ax to our government, a meat ax to many programs. yet, 73% of americans say cutting government spending is more likely to strengthen the u.s. economy so gary b, are these automatic cuts actually