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Improvised explosive devices. reporter: they will start looking at that restricted prohibited list of eye tefplts he says the last thing the tsa wants to do is hastily change their policy and have a terrorist take advantage of a new vulnerability. gregg: peter doocy thank you very much. martha: we are awaiting the president. there is a look at the white house briefing room. we expect him to come out any minute now to deliver a statement and take questions from the press. he is expected to urge congress to pass bi-partisan legislation to get the jobs market moving in this economy. he may very well get questions about the intel leak story which has grabbed so many headlines in recent days. we ll take you there live, as soon as that begins. we ll be right back. [ female announcer ] roam like the gnome this summer. ....
Set in motion the watergate break ins, the cover ups, independent prosecutors and ultimately president nixon s resignation. leaks are a bad business when they happen and they take on a practice skwrebgt tree o trajectory of your own. be careful what you wish for if you put out more details about the president s personal involvement. it could come back and turn out to bite them. america is not going to support a guy that they think is jeopardizing national security to get a couple more votes. gregg: thank you. martha: the president is about to take questions from the press. you can see everybody assembling in the briefing room. he is likely to be pressed on this issue of the intel leaks this morning, that s just moments away. he s expected to call for a bi-partisan effort in congress to get the economy moving. we ll talk to a leading accept senator, get his thoughts on that. gregg: and the head of the fta ....
Economy is going over an january 1st. one is the spending cuts which i actually think will help the economy. you showed the debt clock. my gosh, we have $15.5 trillion national debt. we have it start bringing the deficit down. the other one is the tax rate increases. i think, gregg, those are the bigger problem for the economy because i don t think the economy can take the blow of higher capital gains, higher dividend, higher investment taxes next year. i think it is $55 billion in defense spending will be cut and rest of it, up to 109 billion. right. gregg: would be domestic programs, right? but remember . gregg: does that mean lost jobs? no. gregg: no lost jobs over that. there will be some dislocation cutting spending but if you agree with the premise that one of the greatest problems in our nation is national debt and overspending in washington when will we get serious about it. i ve been in washington, gregg, for 30 years. they always say cut spending ....
Services, gregg. gregg: what kind of legislation are they talking about. reporter: we have two tractiotwo tracks here. we have the leak investigation. lawmakers are trying to curb the leaks ever classified information. so there is no mistake, there is the substitut stutnex computer program, the predator drone campaign and this new al-qaida bomb plot. we need to put together a policy, people need to know what the policy is, if you violate the policy you will be held accountable, that is important. we would love to find out who did the leak here. the fact of the matter is when you have the kind of leaks that have been coming out in the last few weeks it put lives in danger, and it infringes upon the ability of the intelligence community to do their job. reporter: some interim measures to address the issue include more polygraphs but really at the core of this is the idea that too many people are being read in on these ....
Now and we ll get to it. these cuts are exactly the kind of ton nick this economy needs to prove to global financial markets america is serious about getting its deficit under control. gregg: the same bipartisan policy center predicts that gdp will actually decline by half a percentage point because of these cuts. could you buy that. no. i worked for ronald reagan and i also worked for newt gingrich when he was speaker and bill clinton was president both those periods, gregg, we cut spending. what happened to the economy? you remember what happened in the mid- 90s. oh, my gosh we can t cut spending it will cause all the problems. after 1994 we had five years of largest increase in economic growth in this country s history at a time we were cutting government spending. there is no historical evidence that cutting spending hurts the economy. i would say just the opposite. gregg: a lot of public companies have contracts with the department defense. that s true. gregg: in fact there is ....