gregg, what you really need to concentrate on in any of these 10 years budgets is the first year. in the first year president obama s budget spends $160 billion more than the cbo baseline, increases the deficit by $128 billion more than the cbo baseline. let s face it. really what is the president really is proposing, increasing spending and increasing the deficit that first year. then extrapolate next 10 years. that is what his proposal looks like to me. more increased spending. more increases taxes and unfortunately more increased deficits. gregg: but for the very first time the president is putting in writing here a concession on social security to reduce the growth of social security by using a different inflation measure for calculating cost of living increases, the so-called chained cpi that gives a lower measure of inflation. would republicans, in exchange for that, be willing to agree to some revenue tax increases? well, first of all, i
a suspected lone wolf from carrying out a bombing campaign in the city. 27-year-old jose pementol, a u.s. citizen and native of the dominican republic and a convert to islam was taken into custody saturday afternoon as he was allegedly constructing a pipe bomb. police commissioner raymond kelly says he was planning on building three bombs. mayor bloomberg said the suspect was intent on killing. the police also constructed a duplicate of an explosive device that the suspect built and then designated in a way he intended to use the weapon. we want to show you a video about the resulting damage. the man allegedly got the materials from home depot and other stores. he followed instructions from al awaki s inspired magazine to first acquire the bomb-making materials and then assemble them. he relied on a particularly notorious article called how to make a bomb in the kitchen of your mom. let s bring in cnn s deborah feyerick who has been working on this story all evening.
in libya. the national criminal court wants him on charges of humanity. police arrested him on sunday while he was allegedly making a pipe bomb. authorities say he got bomb-making instructions from a website linked to al qaeda. those are the top stories. world business today starts right now. good morning from cnn london. and good afternoon from cnn hong kong. i m andrew stevens. the top stories this monday, november 21st. it s a landslide victory for their political party. talks have collapsed between qantas unions. the dispute is in the hands of the empire. and with hours to go and no budget resolution in sight, u.s. lawmakers are e preparing for defeat. first up though, spain has voted a new prime minister in in the form of the popular party leader who is promising to get the nation back on track with measures to come. if that s giving comfort to span yards, it s not having the same eflkt on investors today. what defined is set to continue. let s have a loo
inspire magazine. that is the al qaeda magazine, an online magazine, which tells interested people how to do these kind of things. we are told by the source that the man had acquired all material and was even going so far as to drill holes in a pipe bomb. he was going to use homemade ingredients in order to detonate this device and the device, had he put it together correctly, would, in fact, have worked. we re being told that he planned to target service men, men service men and women returning from iraq. he also intended on targeting police stations or post offices, and again, this is a pipe bomb and had it gone off, it could have killed close to a dozen people, especially if he attached things like nails. he was following instructions from this al qaeda-based magazine on this website. we are told that there was an informant who was monitoring this person, who was involved. this is the man who has been on the nypd radar for about two years, don, and they decided to go i
27-year-old jose pimentel, a u.s. citizen and native of the dominican republic and a convert to islam was taken into custody saturday afternoon as he was allegedly constructing a pipe bomb. police commissioner raymond kelly says he was planning on building three bombs. mayor bloomberg said the suspect was intent on killing. the police also constructed a duplicate of an explosive device that the suspect built and then designated in a way he intended to use the weapon. we want to show you a video about the resulting damage. well, pimentel allegedly got the materials from home depot and other stores. he followed instructions from al awlaki s inspired magazine to first acquire the bomb-making materials and then assemble them. he relied on a particularly notorious article called how to make a bomb in the kitchen of your mom. let s bring in cnn s deborah feyerick who has been working on this story all evening. and with us from washington, cnn national security analyst peter