Building on the savings that both parties agree to last week. that step alone will save us $750 billion over 12 years. well, there is a little bit fuzzy about that math. here is why. $38.5 billion times 12 comes out to only $462 billion. i m not sure how mr. obama came up with $750 billion. fuzzy math i guess. number two, cut defense. the president applauded $450 billion in defense cuts in the last couple years and said he can make the savings again. do i need to remind you about libya, iraq, afghanistan, al-qaeda, taliban, shoe bombers, underpants bomber, mailbox bombers. cut spending now? are you sure? number three. obamacare. the president says his healthcare law is going to reduce, reduce the deficit by $1 trillion.
$462 billion. not 750! he doubled it. peter, i m trying to figure out how we save a trillion dollars in obama care? is there a back up? do we see anything? there is nothing! it s just numbers. the closing tax loopholes, itemized deductions, a trillion dollars? these numbers are all smoke and mirrors. there is nothing concrete. the only one was defense spending cuts. that s the only one. by the way, three wars, taliban, al-qaeda want to kill us, is that the time to cut the spend not guilty defense? sorry. gretchen: all right. we ll look forward to your show no, no, i m the host for beck tonight. brian: we ll see you at 5:00 o clock. gretchen: all right. we ll see you then. let s do a couple headlines beginning with wild new details emerging about joran van der sloot. the national enquirer reporting that he confessed to a fellow prisoner he buried natalie hallowway in a hidden tomb in aruba.
Own plan after he beats up the other plan, the ryan plan, and it s all smoke and mirrors. it is all there are four part, 12-year plan can i go through a couple of them? first step, quote, this is quoting the president. the first step in our approach is to keep annual domestic spending low by building ready for this by building on the savings that both parties agreed to last week. that s that 38 1/2 billion dollars that you fought against, but still, he ll take it. i got to do the math for you guys. this is obama math. there is the 38 1/2 billion dollars. 12 years. $462 billion. how does he come up with what he calls a step that will save us $750 billion? so he took a number, he didn t want to do, and almost doubled it. it s crazy. gretchen: also he did the 12-year mark instead of the ten-year mark. he took $38 billion, he didn t want it in the first place, i ll take it, now my plan is 12 years. you do the math on 12 years, 38 1/2 billion dollars, it s
Really interesting it s 50 million americans. that s 16% of the u.s. population receiving medicaid. that number did spike when the great recession set its teeth in. the combined cost, $462 billion, that accounts for 13% of the federal budget. social security this is in 2010, these costs are both 2010 $724 billion for social security, 20% of the federal budget. there are tens of millions of americans who receive these entitlements. then when you talk about how much they cost, that s why you see there s so much debate in congress. lot of people going to be paying attention to those debates, some people impacted by this. thank you. how dangerous is pumping tons of radioactive water into the pacific? and can it be avoided? a nuclear plant engineer tells us the alternative. it s about being active and it s about putting the right fuel in your body. it s that simple.
Today s top economic headlines. i m joined by msnbc analyst vera givens. good morning. good morning. starting at new multi year highs. do you think that s sustainable? it s nice to see. this is the 7th straight week of gains. jpmorgan had good numbers. they have had to slash over the course of the financial crisis. so the gains were spread across the market. there certainly wasn t good economic news to propel the data. in large part it was about the bajs. whether it is sustainable is a question mark given the gains we have seen, you know, this is when you typically see a pull-back. that correction is inevitable. how about holiday spending? all the headlines say it turned out to not be as good as originally thought. there is some fuzzy math going on here. we had a good holiday. $462 billion. that was better than the 2007