Good day, im Andrea Mitchell in new york. We are now in day eight of the Government Shutdown that we have been told was unthinkable and wouldnt happen. Now we learn that the families of our soldiers killed in afghanistan are being denied benefits because of this colossal failure of leadership. How do you tell that to the families whose loved ones gave their lives for all of us. Joining me now author and journalist and senior fellow with council on foreign relations. Gayle, thank you very much. You have lived in afghanistan, worked with the soldiers. You know this terrain an you know how the military is coping. We talked to a mother, Lance Corporal jeremiah collins. He was 19 years old. Watch her story. Everything we talk about as moms of marines the one thing you never want is to see a uniformed officer at the door. When they came its been a whirlwind. While that benefit may not be urgent for me its urgent for somebody. Theres somebody that needs to fly their family home or have their
Cost of tax reductions. The alternative minimum tax is 28 . If your tax rate was lowered to 25 . You still have to pay 28 . That is correct. For incomes between to london thousand dollars and 500,000, the effective tax rate is 35 . You hit the 35 rate and incomes fire lower than the income levels at which you would hit the 35 rate and regular tax. Why do they call it a patch . It is a one time year by year patch to stop the broad expansion. You could ask why they call it a cliff. They have discussed this in terms of the patch. It is a year by year increase in the exemptions. The patches nothing but the increase in the a in the exemption to prevent tens of millions of people from being forced to fill up the return you have. The only thing i would add is the package, what makes this so critical in the fiscal cliff discussion, is we are talking about the past for the 2012 taxable year. Unlike the rest of the fiscal cliff which effects rates that will apply next year. The patch applies for
To whom much is given, much is required. Billions of dollars spent within the United States navy. Guarding the sea lanes that that so that we can have the shipments of products around the globe. Health care for seniors in the poorest among us. All of these things are things we do collectively. We can ask for more, but at the same time we need to also show a reform agenda that would transform our society in the direction of more health and wellness and investments in the middle class. A headline, contingency plan. This point,ake amending a one trillion dollar platinum coring. President obama has two options if there is no increase in the borrowing permit. Can respect the debt limit law or ignore it. You said you are cautiously optimistic or will be at that limit deal. 14th amendment. Then i think he would ask Emergency Powers to stabilize the situation. We would be in a freefall. Our economy would end up going into a freefall. Credit would be locked up. This would have a dramatic effect
Both sides see movement in this group in the campaign spoke directly to them today starting with the former president , who campaigned for joe biden in florida. Since abe lincoln. Man, his soninlaw says black folks have to want to be successful. Thats the problem. Who are these folks . Africanamerican unemployme unemployment, hispanicamerican unemployment and asianamerican unemployment all reached their lowest levels ever recorded. Martha and last night in philadelphia, the racial strife that has torn across this nation exploded in violence and looting that saw 30 Police Officers injured after a Fatal Police Shooting of a suspect. [cars honking] [indiscernible]. Martha police were hit with rocks and bricks, one officer was driven over in the street, she is in stable condition tonight. And today joe biden took his pitch to georgia, showing that democrats believe that they have a shot at flipping that state. Donald trump failed to condemn whats promising. He doesnt believe there is syste
A 15 minute halt in trading. We will head to the exchange and just a moment, for more in that. As for the cruise setting off the coast of california for days with thousands of people on board. One of the passengers as a woman with stage iv cancer. She was supposed to get a critical chemo treatment today. And we will talk to her in just a few minutes. We begin with team fox coverage, Claudia Cowan standing by. Bullous go to liz claman live at the New York Stock Exchange. Mab clinton explain to people what the slide is all about and how the Trading Floor has mechanisms in place to stop things if he gets to be too big of a drop too fast. Exactly, that is perfectly put, dana, we are looking at a very rough day when we opened this morning it only took 4 minutes before the stock market completely halted all trading stock. What do we have . The levels of the New York Stock Exchange putting into play, is the s p 500, not the dow, that is a broader indicator dropping more than 7 then all tradin