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No one was disappointed. Our Washington Bureau chief darren gersh tonight on what happened and what comes next. Reporter by now, you know how this story goes. After the lastminute meeting at the white house, the speaker emerges grimfaced. The discussion about revenue in my view is over. Its about taking on the spending problem in washington. Reporter cut to the White House Briefing room. The president says hes been reasonable. Some tax cuts, some spending cuts and some entitlement reform. Thats his prescription for budgetary pain. And since republicans wont accept it, the president says the middle class is about to feel the pain of those automatic spending cuts known in washington speak as the sequester. I dont anticipate a huge financial crisis, but people are going to be hurt. The economy will not grow as quickly as it would have. Unemployment will not go down as quickly as it would have and there are lives behind that. And thats real. And its not necessary, thats the problem. Report

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