to decide what our priorities are. most immediately short-term, we need to extend a payroll tax cut set to expire at the end of this month. [ applause ] if we don t do that, the 160 million americans including most of the people here will see their taxes go up by an average of $1,000 starting in january and badly weaken our recovery. that s the short-term. in the long-term, we have to rethink our tax system more fundamentally. we have to ask, do we want to make the investments we need in things like education and research and high tech manufacturing and all those things that make us an economic super power or do we want to keep in place the tax breaks because we can t afford to do
for jerry sandusky. michael isikoff, thank you so much. meantime, back in washington, president obama says the dramatic drop in the unemployment rate is not enough to help americans struggling. the national unemployment stands at 8.6%, the lowest level since march of 2009. he says the government needs to keep the growth going and urging americans to tell republicans in congress to extend the payroll tax cut set to expire. tell them not to vote to raise taxes on working americans during the holidays. he will them to put country before party. put money back in the pockets of working americans. good saturday afternoon to you, my friend. so let s get to these jobless numbers and what they tell us. you know, these numbers are you can t deny the fact that it s good news not only
shepard: it s bunga bunga the farewell tour. the eye tannian prime minister silvio berlusconi the gift that keeps on giving released an album of love songs today. sadly he only co-wrote the songs. the singer didn t actually perform them. here is an older clip between berlusconi and his collaborator shepard: warms you up, doesn t it? the new cd s title translates to the true love. sadly no word on whether any of the tracks are dedicated to ruby the heart stealer. updating some of fox top stories tonight. president obama urging congress to extend a payroll tax cut set to expire at the end of the year. comes after the super committee failed miserablably to reach a deficit deal that might have extend the tax break. the g.o.p. presidential candidates preparing for another debate this one on foreign policy and the justice department challenging utah s
if they fail and that s expected what happens? reporter: it seems that despite the very we call it the super committee and they had super powers. this committee written in law had the power to bypass many of the procedural hurdles that slow down and hold up legislation up here on capitol hill. despite having the power these 12 committee members were not able to bridge the gap on a philosophical difference on what they believe. a big issue that s held up negotiations to this point, the issue of taxes. democrats increase the tax revenue increased taxes need to be part of any final deficit deal, any deal to reduce the deficit as part of a balanced approach as they like to say. it s no surprise republicans on the flip side are very opposed to tax increases unless it is part of a broader effort to reform the tax code that would bring down tax rates. that s really what it seems this has come down to. they were not able to bridge the divide on that issue. if they don t reach
week. but many demonstrators say it s not enough. no reports of violence or arrests. mexico. a big pileup on a highway in the north. at least 17 vehicles involved, at least five people injured. another wreck involving more than 30 cars reportedly took place just a half hour after this one. authorities blame icy roads and foggy conditions in mexico and that s a wrap on this fox trip around the world in 80 seconds. your paychecks should look a little bigger starting today. the payroll tax cut set to kick. in the treasury secretary tim geithner says the 2% decrease will help more than 150 million families. he also says the average worker will get an extra $700 a year in take home pay. the payroll tax cut was part of the deal that the president struck with the republicans to end tax cuts for all workers. the insurance giant aig is one step closer to repaying the government for its massive