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On january the 1st. tax heights, indeed. cuts b, not cash, seems to be the one issue nighting the party these days. the new york times states, gon clings to one thing it agrees on, spending cuts. president obama and democrats are betting that public pressure will eventually work in their favor. it may take a couple of weeks, it may take a couple of months, but i m just going to keep on pushing on it and my view is that ultimately, common sense prevails. so action on the sequester has been sequestered, at least until the sequester starts hurting. nicole, i just really wanted to say sequester that sequester. i m impressed. we thought it was clever, so we said it three times in the last five minutes. it s very impressive. you had me at the first three. you had me at so, nicole, what is the ....
It lasted 45 minutes, and aides are saying we will not get a readout, but there certainly has been a flurry of activity on the fiscal cliff front. aides to speaker boehner say in a friday phone call to the president the speaker offered to extend the bush tax cuts for those making up to a million dollars so, therefore, those above a million dollars would pay slightly higher taxes in exchange for spending cuts and entitlement reform. let s take a look at the framework of a possible fiscal cliff deal. it includes $1 trillion in cuts, $1 trillion in new revenue. that would include an immediate down payment and then lawmakers working out details in the new year. possibly including raising the nation s debt limit, something the white house has badly wanted, extending unemployment insurance, the medicare doc fix, payroll tax cut and tax extenders. any debt limit increase would require cuts b in reforms of an amount greater than the increase, for the speaker putting more revenue in the form ....
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