today we will hear from the the congressional budget office, the government accountability office, the rand corporation, and iraq and afghanistan veterans of america. in an effort to help us quantify and understand these costs to ensure we can meet the future needs of our veterans and their families. and today we are so fortunate to be joined by one of those brave family members, crystal nicely, who's not only a wife but also a caregiver to her husband, todd nicely. tide list is injured by an ied in the southern helmand province of afghanistan. since that time is come home to fight everyday, focus on his recovery and that even a just a that is already starting to drive again. and i want to take a moment to say thank you so much for your service to our country. you have shown bravery not only as a marine and afghanistan also to the courage of display during your road to recovery. i invite a crystal here today because i think it's incredibly important that we hear her perspective. because we have incurred for the wars in afghanistan and iraq and will extend far beyond dollars and cents.

congressional budget office said that is no income. you can't say you got in come to offset a big increase in high-speed rail and things like that if you don't have a source of revenue. that is the kind of situation we find ourselves in. a deep philosophical disagreement. the majority in this senate and the president believe in spending and when they have been caught after raising spending and when i said 24% increase that did not include $1 trillion in stimulus package. did not include that, all of which every penny was borrow because we are in debt and spend extra money you borrow the money. we don't have it to spend. we have disagreement about where we are heading in our country. we should have had a full glorious debate in the united states senate. the finance committee should be looking at how to deal with taxes. the appropriation committees

and the congressional budget office, nonpartisan, has told us that the long-term outloom look is even more -- that the long-term outlook is even more sober. that we have a debt held by the public that is about 70% right now, or -- right here, debt held by the porks about 70%. our gross debt is actually approaching 100%. but our publicly held debt, debt held by the public, not counting what we owe to trust funds like social security, is about 70%. but look where we're headed if we stay on our current course? the congressional budget office tells us by 2037 our publicly held debt will be 200% of our gross domestic product if we fail to act. and how did we get in this circumstance? well, mr. president, this says it very carly and very well. the red line is the spending line of the united states. the green line is the revenue line going back 60 years. and what we can see is the red line, the spending line, is the highest it's ever been. 24% of gross domestic product. federal spending. the revenue line is the lowest it's ever been in that period, the lowest it's been in 60 years. some of a

according to senator portman, who used to be the nation's budget director, the congressional budget office would say that if congress did this kind of dollar-for-dollar reduction for spending every time a president asked to us raise the debt ceiling, we'd balance the budget in ten years. and here's another one: the "wall street journal" reported yesterday that because of these spending cuts, the discretionary part of the budget, which is about 39% of the entire federal budget, will grow over the next ten years at a little less than the rate of inflation. if we could control the rest of the budget so that it would grow to anything close to the rate of inflation, we would balance the budget in no time. and balancing the budget is exactly what our goal ought to be. i did it every year as governor of tennessee. families in america do it every day. it's time to balance the government's books and live within our means. these spending reductions are an important step, but they're just one step and no one should underestimate how difficult the next steps will be. these spending cuts do almost noth

the congressional budget office came out and said we should expect very high unemployment for years and years to come. that suggests to me, that we ought to have a very dramatic change in direction. i've been trying to convince congressional republicans that they ought to take the lead. don't -- you have a president who you know doesn't understand free enterprise, job creation. let's not just talk about january 2013. what could we do in september to set up a series of choices where president obama would have to concede to the american people the kind of policies that would create jobs? i think there are steps that could be taken. one, to take a bill introduced by two democrats, senators webb and warner of virginia who introduced a bill that says virginia ought to be allowed to develop natural gas and oil offshore. they would split the revenue with the federal government, 50% to washington, 37 1/2 to the commonwealth, 12 1/2% to land conservation and infrastructure. i think the house republicans ought to pass that bill the first couple days after they come back. send it to the senate. wh

i'm doug elmendorf, i'm the director of the congressional budget office. his morning to cbo released this summer update to our budget and economic outlook. i'd like to briefly summarize the report and then my colleagues and i will be happy to try to answer your questions. the united states is facing profound budgetary and economic challenges. cbo estimates that the budget deficit this year will be about $1.3 trillion, which equals eight points 5% of the country's total economic output, or gdp. that deficit stems in part from the long shadow cast on u.s. economy by the financial crisis and the recent recession. although output began to expand two years ago, the pace of the recovery has been slow. and the economy remains mired in a severe slump. cbo expects that recovery will continue, but that output will stay well below the economy's potential output, in an amount that corresponds a high rate of use of capital and labor for several years. coo initially completed its economic forecast in early july. we later updated the forecast to reflect the policy changes

the congressional budget office analyst said the majority could come on tighter cap on the operating budget. agencies such as the department of defense and education. we want to know how the economic downturn forced you to change the way you live. we invite you to record a testimonial on your cell phone or camera and upload it to ureport@abc7.com. >> we are learning more about the latest homicide victim in richmond. mother of four was gunned down last night. her male companion was injured. that makes step homicides in the last four weeks and 22 surpassing the homicide total from all of last year. abc7's amy hollyfield is live at the richmond police department. amy? >> reporter: we have a picture of 25-year-old rose mcfadden. police found her dead on the sidewalk early this morning. they don't know why someone shot her. and the male companion she was with, if-year-old man in cit -- 24-year-old man suffering with life threatening injuries. he was shot in the head. officers have not made any arrests. friends and relatives of 25-year-old rose mcfadden rushed to the scene of her death wit

in an outlook released on wednesday, the congressional budget office forecast a deficit of $973 billion for the upcoming fiscal year, starting in october. the projected decline reflects the content of the debt ceiling bill enacted earlier this month. this calls for cuts of about $1 trillion in the deficit, stretching over ten years from 2012. on the economy, the report says the pace of growth will remain sluggish for a while. it estimates the jobless rate to stay high at the 8% level for the next three years. >>> for the october three december quarter, the budget office predicts unemployment rate of 8.9% and 8.5% for the same period next year. following wednesday's downgrade of japan's sovereign debt, u.s. credit rating agency moody's lowered the ratings on major japanese banks. moody's downgraded the country's credit rating by one notch to aa 3. this is due to japan's worsening fiscal conditions. the agency down groweded tokyo mitts bey and sumitomo by one notch to aa 3. ratings f mixuho and mizuho corporate were downgraded to a 1. since the finances are getting worse the government ma

larry lindsey, former economic advisor to president bush, has done some analysis of the congressional budget office score of what the budget would look like over ten years and he points out that they were predicting nearly 3% growth the first and second quarters of this year, printing that -printing -- predicting ths early as this year. and so now we've had a reanalysis of the first quarter and economic growth wasn't 3%, it was .4%. and the second quarter has initially been scored at only 1.3%, not 3%, not 2.7% or that figure. he says that loss in g.d.p. alone will mean less growth in the economy, means less tax revenue for the government. and over ten years, it puts us on a trajectory that the government would lose $750 billion, would collect $50 billio 750 billion less, which is about a third of what savings was to occur in the bill. and mr. lindsey says second and third -- third and fourth quarters of this year also are going to be well below that. so maybe we're looking at in this year alone enough decline in g.d.p., unfortunately -- hopefully not -- that would wipe out half, maybe more, of the

books and quoted by the congressional budget office itself pay no income taxes. i agree with you, some of them might not be in the position to pay taxes at all. >> but given your statement and taking it as a given we need tax reform. but tax reform should include revenues. >> address revenues. before you demand one group pay more. get everyone to get skin in the game. >> people who have the money are the ones that benefited from this economy. >> you keep hitting on the same group and tearing up the group. >> they have the money. >> that's what s&p is saying. you are hitting up with the same group and leave half of the people out television entirely. >> are you saying willie suton should go to the pawn shops. that's why willie suton went to the bank. >> presumably you are. >> i am neal and neal with standard and poors. it needds to be balance revenue. >> it is not balanced when you call a group out. congressman, i wish we had more time. >> there was no revenue in this at all. >> senator. we'll be back after i beg you to stop. we'll have more including the guy behi

>> the congressional budget office reported this week that unemployment will remain high between nownd the end -- question, why is the public lost faith in president obama? is strictly the economy or more than the economy, like are the voters who voted for change not seeing the change? >> democrats are still sticking with him. i think the problem is a combination of the policies he pursued in the first two years of unpopular with the blic, most importantly obama care, and then the rotten state of the economy. when we're growing at 1% with one employment rate above 9%, there's not much to be happy about. and the ratings on key issues, jobs, the budget and the economy generally are all in the mid-20s, which is a disastrous place for him to be. >> you can buy a t-shirt that says, president bush wrecked the economy, and president obama can't fix it. and i think that's where we are. and the president from the democratic perspective has played it much too safe. he proposes modest efforts in the hopes the republicans will go along with it. they say no to everything, and i think there's a lo

the congressional budget office said that's no income. you can't say you've got income to offset a big increase in high-speed rail and things like that if you don't have a source of the revenue. so that's the kind of situation we find ourselves in. we have a deep philosophical disagreement. the majority in this senate and the president believe in spending. and when they've been caught after having raised this spending -- and when i said 24% increase, that did not include the almost $1 trillion in stimulus package, did not include that. all of which, every penny, was borrowed because we are in debt when you spend this extra money, you borrow the money. we don't have it to spend. we have a different -- we have disagreement about where we're heading in our country. and we should have had a full, glorious debate in the united states senate. the finance committee should be looking at how to deal with taxes. the appropriation committee should be asking how can we reduce expenditures? every authorizing committee needs to be looking at what they

bringing down the deficit over the course of the next ten years, and that's according to the congressional budget office, it's going to cut about half of that now, and it leaves the rest of it up to a supercommittee of 12 members, half from the house of representatives, half from the senate. each of those halfs appointed by the respected leaders of the chambers. and so it is possible that they will deadlock, but i think with the concern about the financial precipice that we have been teetering on, i think that supercommittee is going to come up with a significant deficit reduction. they've got a target of about an additional $1.5 trillion over the next ten years. but they're not limited to that. and everything's on the table. so what they could do -- and this is a moment that if we can seize it, it would be tremendous , and that is we can do major tax reform. now, is anybody happy with the existing tax code as it is? and, you know we talk about all of these tax loopholes. the technical term is tax expenditures. what they are are special interest tax preferences for individual special interests, and it b

the biggest element in our deficit today, according to the congressional budget office, is the $2.60 trillion hole left by the bush tax cuts. that is it. we do nothing on the revenue side, so, yes, republicans have won. >> two columnists both right this week about the perils of central some. one right that americans have lost track of what the president is really for. you wonder if he has lost track of himself. has the president lost track of himself in this debate? >> i do not think he has lost track of himself. i think he has allowed so much ground now that he is not a major player in this. he can pretend that he is, but when he agreed to link the debt ceiling with deficit reduction, the game was over. >> do you think congressional democrats trust the president to do what they believe is the right thing in this? do they believe he will sign whatever comes his way? >> they already know he is not protecting democratic principles because he was willing to give away so much in his negotiations. he gave everything in the grand bargain. all he kept was some revenue increases. he put soci

. >> after it happens is the congressional budget office scored it and said $2.1 trillion in cuts andcument says and then last night, jessica yellin was reporting that the treasury was having conversations with standard & poors and moody's because they were asking can you explain everything in this debt deal so we can make a decision. i think you're right, they will probably wait a few days but certainly lobbying going on in washington to keep the credit rating. richard, thanks and stay cool on the mall. >>> coming up, the tsa new screening tactic talk to passengers. we will explain more about this new security model they have come up with. >>> a brand-new tropical storm getting strength in the caribbean. we are tracking emily coming up on this "american morning." every day, all around the world, energy is being produced to power our lives. while energy developement comes with some risk, north america's natural gas producers are committed to safely and responsibly providing decades of cleaner burning energy for our country, drilling thousands of feet below fresh water sources within s

congressional career that all of the inertia here in washington is to spend money. everything. it all points toward spending money. the budget process that we go through. the folks through the congressional budget office that try their best to do the work but the rules under which they determine whether or not something costs the federal government and this nation something or whether it saves are so distorted that you can't get to the right answer. one cannot get to the right answer without structural change. and that's where the balanced budget amendment comes in. and so today, what we did in the budget control act is not all that any of us would have liked. in fact, the numbers are relatively paltry when you look at them compared to how much money this government spends, but what is true about this act is that it will allow us in this house of representatives and in the senate right down the hallway to say to the american people, we hear you. we want this government to be held accountable. and the best way to do that is by passing a balanced budget amendment to the constitution of the united states. my friend from arizona comes down this evening to highlight that wonderful change that we have the p

heidi golding who will be testifying on behalf of congressional budget office. she is cdos principal analyst for military and veterans compensation and the national security division. so thank you again to all of you for being here this morning for the support and. mr. reickhoff, we weekend with you. >> thank you, madam chair, members of the committee. on behalf of iraq and afghanistan and over to a thousand of her members and supporters, many of them are here today, thank you for inviting us to testify in the long-term costs of war for our generation of veterans. i served in iraq from 2003-2004 as a platoon leader. when my unit returned and i came home from work, we return to the country confused by and a bit uncomfortable with its warriors. people wanted to help. they just didn't know how. bringing to light the true cost of these wars is part of reed we formed iaea. right now our nation to use on the edge of the falls and servicemen and veterans who have concerned and have been scared. iava msha across the country contacted us the past few days. they still don

the congressional budget office, non-partisan has told us the long-term outlook is even more -- thate have debt held by the public that is 70%, 70%. our gross debt is approaching 100%. that our publicly held debt which is held by the pu

jobs it's the most direct stimulus you can get into the economy during tough times the congressional budget office agrees and circuit terryville sec so does the center on budget and policy priorities so does the economic policy institute and sort as moody's and so does virtually all or every serious or nonpartisan economist of fox so-called news in the republican party. they beg to disagree. is still end of this program now is it actually people who are in food stamp stimulate the economy because every dollar generates one dollar and eighty four cents into the economy you buy more groceries if you're on food stamps if i do you buy that is a stimulating part of the economy. you just said the numbers yourself every dollar spent on food stamps generates a dollar eighty four in economic activity how is that not an example of economic stimulus because. so if you give people money and if they didn't earn and you tell them to go spend it on stuff they normally couldn't forward everyone's better off that's exactly right kill me aside from the condescending tone if you give people money to buy stuff then g

douglas holtz-eakin is former director of the congressional budget office. how important is it the military attack this retirement issue? >> it's very important. we're talking about an underfunding of hundreds of billions of dollars in the next 20 years and if you want to maintain the core mission, which is to defend the nation and have the strategic capabilities we need, you can't have all their money tied up in retirement programs. >> reporter: advocates say the new system would not only save money but would also be fairer. it would give benefits to those who serve less than 20 years. right now they walk away with nothing. and it would give more money to those in combat or high-risk situations. the proposal leaves a lot of blanks to be filled in, including whether to exempt current service members so their plans won't change. we spoke to some active duty troops who agreed costs must be cut, but worry the number of experienced soldiers will dwindle with no incentive to stay enlisted for 20 years. the proposal is in its early stages and would require congres

example -- according to senator portman who used to be the nation's budget director, the congressional budget office would say if congress did this dollar-for-dollar reduction for spending every time the president asked us to raise the debt ceiling, we'd balance the budget in ten years. because of the spending cuts, the discretionary part of the budget which is about 39% of the entire federal budget will grow over the next ten years at a little less than the rate of inflation. if we can control the rest of the budget so that it would grow at anything close to the rate of inflation, we would balance the budget in no time, and balancing the budget is exactly what our goal ought to be. i did it every year as governor in tennessee. families in america do it every day. it's time to balance the government's books and live within our means. these spending reductions are an important step, but they are just one step, and no one should underestimate how difficult the next steps will be. these spending cuts do almost nothing to restructure medicare and social security so that seniors can count on them and tax

you need to know this a new congressional budget office report brings bad news for president obama according to the report unemployment will likely be at or above eight point five percent through next year's elections reason cited for persistent unemployment is weakness in demand as in not enough people have enough money in their pockets to spend and stimulate the economy and republicans have done one heck of a job keeping it that way by making sure any programs put forward by democrats to help the unemployed and get people collecting paycheck. so. as resorting to desperate measures get money back in the pockets of working people to stimulate the economy is the payroll tax cut extension that republicans are less than enthused about supporting and here's another idea through helping homeowners that was just reported in the new york times today which read the obama administration is considering further actions to strengthen the house allow millions of homeowners mortgages to refinance that today's lower interest rates about four percent a wave of refinancing could be a strong stimulus to the e

but according to the congressional budget office the spending caps contained in this legislion do not apply to ending that misguided war. that makes no sense to me. the truth is that the best way to deal with our long-term fiscal situation is to grow our economy. that means creating jobs and putting people back to work. this bill does exactly in the wrong direction. i have two children, mr. speaker, who i love more than anything, and i don't want them to grow up in a country where the gap between the very rich and poor grows wider and wider each year. we can do better, mr. spear. we must do better. and we can do so in a way that

great question and fortunately information is easily available to the public on the web be congressional budget office compiles all of the raw data about federal income taxes every year and post the internet on their website c.d.o. dot gov once you log on to the c.d.o. website click on publications in the menu across the top of the page then choose special collections from the dropdown menu that appears and click on distribution of federal taxes and this page will give you all the information on tax rates and hundreds of different data sets all available for download as a p.d.f. or excel document knowing the facts is important thanks to resources like the c.d.o. website it's easy to do our next comment is from the viewer rant line from threatening to execute the federal reserve chairman to claiming climate scientists make up global warming to make a buck or perry has been sticking his texas spurs in his mouth since he declared his candidacy in the republican presidential primary last weekend and it hasn't gone unnoticed here the big picture one viewer called the rand line with this observation i was j

never before panetta was sworn in everybody was pointing to his credentials working at the congressional budget office as a sure sign that he was going to take on wasteful and bloated defense spending now obviously that's not going to happen and man he destroyed that myth in the very first press conference to he didn't even bother taking his time to let us all down easy as also not forget that this is supposed to be a democratic. administration and i connect but his words of the entire administration because he did so himself he in fact sends a message out to the defense department personnel declaring that kind of six hundred billion would be completely unacceptable to both him and the president that probably means that whatever message he sent the president had signed off on himself that's not what americans want this is not what this country needs to stay safe this is what defense contractors a lobby for and when to let you in on one last bit of detail about the absurdity of it as doomsday warnings you see in this debt deal republicans made sure to write into the initial four hundred billion in cuts

but according to the congressional budget office the spending caps contained in this legislation do not apply to ending that misguided war. that makes no sense to me. the truth is that the best way to deal with our long-term fiscal situation is to grow our economy. that means creating jobs and putting people back to work. this bill does exactly in the wrong direction. i have two children, mr. speaker, who i love more than anything, and i don't want them to grow up in a country where the gap between the very rich and poor grows wider and wider each year. we can do better, mr. speaker. we must do better. and we can do so in a way that does not abandon the principles of economic justice and fairness that has made our nation so great. ilvote no on this bill. -- i will vote no on this bill. i yield back the balance of my time. the speaker pro tempore: the gentleman from california. mr. dreier: mr. speaker, i yield myself one minute to say to my rules committee colleague that time and time again he criticizes the tax cuts that have been put into place. they really are the bush-obama tax cuts

and a new report by the congressional budget office says the debt bill will save taxpayers $2.1 trillion over coming decades. the analysis finds a combination of caps on cabinet agencies should save more than $900 billion, crediting 1.2 trillion more in taxpayer savings because of cuts and a bipartisan committee will come up with and congress will vote on later this year and finds most of the cuts would occur in 2014 or later, so the debt bill would have little immediate impact on the party. there are rules affecting welfare recipients in california, it's not good news for those struggling to find jobs in a down economy. and. >> i don't know what we're going to do. >> it's a race against the clock for debbie watson. she has to find a job soon. beginning this month, the state is changing welfare limits from five years to four. after 48 months, benefits will only cover children. watson, who has moved in with family to cut expenses is on her 44th month. >> i'm hoping that i'll find employment before that time. i don't know how we're going to make it watson and 600,000 just saw an 8% cut in

economy and the latest congressional budget office report. report. steve

. >> guest: the congressional budget office has sophisticated equations that they use and gran grantede. i think that president obama should have released the job's report during the debt ceiling debate to show what a national distraction that partisan wrangling was. he's doing the best job he can. >> mike: i want to ask in your state california unemployment rate is at 12 percent. and four and half million californians are out work. are you satisfied with the president is on top of this? >> guest: i don't think the people hold responsibility. >> mike: they have been holding george bush. >> guest: i think we should hold wall street responsible. they got us in the mess the can't get us out of. >> mike: how much do you agree with and what is your grade for president obama on the jobs versus the vacation issue. >> guest: i agree with her. i give him a bplus because after the tea party and the republicans in the house put us through. he has to have a vacation. >> mike: what did they put us through. >> guest: taking us to the brink of default and having the s&p downgrade us which was a resul

congressional budgets to run their offices at an all-time high.really important that maybe the united states take a moral high ground and that congressmen, the president, all of these people consider taking, as a symbolic gesture, even a pay cut to show people they're serious about getting their house in order. that kind of symbolic gesture i think, means something to the american people and we're not seeing it. and hence, the frustration. >> peter: put your money where your mouth is literally, and show the american people that you're susceptible to the same kind of burdens and the same sacrifices that we're suffering. what is the role of independents going forward in this next election and going forward in our future in this country, jim? >> well, there was an old cartoon that said, we've met the enemy and the enemy is us. all the people that are in office, the clowns, as i call them, we put them there. we're responsible for that. i think we have a responsibility now to begin to say, we're just not going to accept that kind of behavior anymore. y

jenna: the congressional budget office cbo is out today with fresh projections on our economy. the key word from the director is slumped, prolonged and tough to shake. the unemployment rate isn't expected to drop below 8% for three more years at least. steve morris senior economics writer for the "wall street journal," that caught our eye for sure, steve, why so slow before we're dropping significantly? >> this is the slowest expansion, jenna we've seen since the great depression. a lot of these economic programs to revive the economy and create jobs haven't worked, and the cbo really acknowledged that today saying as you said for three more years we'll be above 8%. that is somewhat polyannish. a economists say we'll stay close to 9% if we don't get out of this recession. there is a lot of talk about a double-dip recession. the other thing in this report is over the last three years the federal government will have borrowed $4 trillion. jenna: wow, $4 trillion. here is the other headline based on that borrowing headline as well. the cbo based on projections that are far from ce

a frightening forecast from the non-partisan congressional budget office.say we'll not see an allout recession, but the jobless rate will likely top 8% until 2014 because of sphoor job growth. the heads of ge and american express looking for advice, the president is on his job creation plan. our team coverage starts withette on martha's vineyard with the president. >> reporter: those two ceos are members of the president's jobs council. the president got an economic briefing in a digs to those calls from his aide who is on martha's vineyard giving the president a daily briefing about the market and how things are going in terms of policy formulation back at the white house among some of the president's staff putting together that new economic plan. settinged the table for all that is a devastating report that you mention from the congressional budget office in terms of unemployment remaining stubbornly high. slow economic growth for several years down the road. >> a great deal of the pain of this economic downturn still lies ahead of us. >> reporter: there

the congressional budget office made the estimates but it's sort of like a computer, garbage in, garbage out, congress at budget office was told by the democrats these are the parameters by which you estimate, they didn't include the spouses and extra family members, so congressional budget office came out with a lower null and this is typical of what happens with federal programs. medicare, when it was first founded in 1965, was estimated that today, it would cost $12 billion. well, the original medicare is not $12 billion, it's over $120 billion. bill holy. that was 45 years ago. and the estimate was $12 billion? >> they missed it by a factor of ten. bill: that is remarkable. so you say that the democrats who are writing the law told the cbo what to score, come back and tell us what it would cost. >> exactly. bill: so clearly in your estimation, based on the study, if this is accurate, they were told to score a much lower number that would need the benefits. >> right. and i don't believe there was any mal lev lens, i think it was an honest mistake but if you put in parameters that redu

congressional budget office invented by liberal democrats in 1974 for the purpose of groiing big governmentn: mr. speaker, thank you for being with us, there is still more from ames, iowa tonight. still to come, more with rick santorum, herman cane, straight head. ♪ [ male announcer ] this is our beach. ♪ this is our pool. ♪ our fireworks. ♪ and our slip and slide. you have your idea of summer fun, and we have ours. now during the summer event get an exceptionally engineered mercedes-benz for an exceptional price. but hurry, this offer ends august 31st. >>> michelle bachmann said she'd fight health care being imposed by states and won't fight marriage. being imposed by the state. that would be okay. we have ron paul saying what the states want to do, whatever the states wants to do is fine. so if the states want to pass polygamy that is fine, impose sterl saigs that, is fine. no. our count very based on moral laws, ladies and gentlemen. there are things abraham lincoln. and the 10th amendment we're a nation that has values and we get our nation and built on a moral enterprise and states don

congressional budget office invented by liberal democrats in 1974 for the purpose of groiing big governmenteeding. >> sean: mr. speaker, thank you for being with us, there is still more from ames, iowa tonight. still to come, more with rick santorum, herman cane, straight head. you go next if you had a hoveround power chair? the statue of liberty? the grand canyon? it's all possible with a hoveround. tom: hi i'm tom kruse, inventor and founder of hoveround. when we say you're free to see the world, we mean it. call today and get a free hoveround information kit that includes a video and full color brochure. dennis celorie: "it's by far the best chair i've ever owned." terri: "last year, 9 out of 10 people got their hoveround for little or no money." jim plunkitt: "no cost. absolutely no cost to me." breaking news...when you call today, we'll include a free hoveround collapsible grabber with the purchase of your power chair. it reaches, it grabs, it's collapsible and it's portable. it goes wherever you go. get it free while supplies last. call the number on your screen to get your free video

we realized that what was supposed to be a 2.4, 2 1/2 trillion deal was we scored by the congressional budget office more like 2.1 trillion. further the upfront cuts par of that 900 plus billion first waves of spending cuts weren't big. they were barely ripples of more like 28 billion dollars in the next year. barely a rounding -- within a rounding error within a budget. i think the s&p folks who locked themselves into a box and say, look we told you a credible package was four trillion dollars, in 10 years. when i tacked to mitch mcconnell, when i was in -- when i talked to mitch mcconnell, he was saying the only way to get to four trillion was to include revenues and tax hikes. these agencies are neither republican nor democrat. they do not care. they just want to see tate adds up to four trillion. they don't -- so they don't make political statements as to whether the complexion of the deal is -- hear me out. they are saying if it wasn't going to be four trillion, regardless of the mix, they wouldn't like it. they didn't like it. this is what they did. >> greta: can we stop putting them up on the

congressional budget office invented by liberal democrats in 1974 for the purpose of groiing big governmenteeding. >> sean: mr. speaker, thank you for being with us, there is still more from ames, iowa tonight. still to come, more with rick santorum, herman cane, straight head. >>> michelle bachmann said she'd fight health care being imposed by states and won't fight marriage. being imposed by the state. that would be okay. we have ron paul saying what the states want to do, whatever the states wants to do is fine. so if the states want to pass polygamy that is fine, impose sterl saigs that, is fine. no. our count very based on moral laws, ladies and gentlemen. there are things abraham lincoln. and the 10th amendment we're a nation that has values and we get our nation and built on a moral enterprise and states don't have the=d right to trample over those because of the 10 amendment. >> and welcome back. and you just sawiy during tonight's republican presidential primary debate. joining me now is senator. welcome back. >> thank you. good to be here. >> sean: they're showing i don't think yo

books and quoted by the congressional budget office itself pay no income taxes. i agree with you, some of them might not be in the position to pay taxes at all. >> but given your statement and taking it as a given we need tax reform. but tax reform should include revenues. >> address revenues. before you demand one group pay more. get everyone to get skin in the game. >> people who have the money are the ones that benefited from this economy. >> you keep hitting on the same group and tearing up the group. >> they have the money. >> that's what s&p is saying. you are hitting up with the same group and leave half of the people out television entirely. >> are you saying willie suton should go to the pawn shops. that's why willie suton went to the bank. >> presumably you are. >> i am neal and neal with standard and poors. it needds to be balance revenue. >> it is not balanced when you call a group out. congressman, i wish we had more time. >> there was no revenue in this at all. >> senator. we'll be back after i beg you to stop. we'll have more including the guy behi

. >> how the bill will be implemented is different from how the congressional budget office and joint committee on taxation assumes that the bill would be implemented. if the bill is implemented in the way we expect it to be implemented, then it will be likely increase the cost of the bill by $50 billion per year after the premium tax credit come online in 2014. >> the white house is disputing the original story that unveiled finding of the new study saying, "this story is not accurate. the affordable care act will extend coverage to millions of americans and bring down the cost of healthcare for all of us." additional details regarding the inple mennation of the law will be considered in future regulation. most of the regulations will come from h.h.s and secretary sebelius. the premium tax dread that are the subject of the new analysis are scheduled to kick in like many of the law's key provisions in 2014. bret? >> thank you. >> bret: brawnback is returning a grant to help them set up health insurance exchange because of the strings attached, he says, and doubt about whether the fede

indeed, the nonpartisan congressional budget office projects premiums in the small group market will be as much as 2% low for the 2016, about $350 less per family. in a market where premiums have increased 5% or more annually since 2005. employers spending on premiums is estimated to decrease by almost 4%, about $20 billion in this year's dollars. by 2019, businesses will save about $2,000 per family they insure and by 2014, families buying in the individual market could save an estimated $2,300 a year if they buy health insurance in a new, affordable insurance exchange. health reform also gives state insurance regulators unprecedented new resources to fight for consumers. the law allocated $250 million in grants for this purpose, almost $50 million of which has been awarded to 49 states and the district of columbia. we are releasing a report today from the government accountability office that i requested along with senator feinstein which demonstrates the extraordinary work state regular lators have done using these grant funds. these improvements enabled by federal grants will all

we're going get a revised budgetary outlook from a congressional budget office, the non-partisan accountantsill probably project it won't get it through. but go to the underlying problem. i've argued that the big deal is not the debt limit in august 2nd but rather the debt. the deficits that we are running and the mounting debt. that continues to be my concern. >> greta: when you are being whipped, time to get you to vote yes on this, you raised those concerns, those that wanted you to vote yes, did they say no, you are wrong? >> no, in fairness, there was no arm twisting and no threats. there was no heavy-handed. >> greta: did they say you are wrong with the ideas? >> we generally agreed, but there is the best we can do. i think i'm sympathetic with that argument. giving all credited where it's due, conservatives, republicans, john boehner moved the president a long way. remember he wanted this huge debt increase and then he said he wants a big tax increase. we were able to avoid that and initiate a discussion and that is constructive. the problem is in two years we'll be in an unsustainabl

we realized that what was supposed to be a 2.4, 2 1/2 trillion deal was we scored by the congressional budget office more like 2.1 trillion. further the upfront cuts par of that 900 plus billion first waves of spending cuts weren't big. they were barely ripples of more like 28 billion dollars in the next year. barely a rounding -- within a rounding error within a budget. i think the s&p folks who locked themselves into a box and say, look we told you a credible package was four trillion dollars, in 10 years. when i tacked to mitch mcconnell, when i was in -- when i talked to mitch mcconnell, he was saying the only way to get to four trillion was to include revenues and tax hikes. these agencies are neither republican nor democrat. they do not care. they just want to see tate adds up to four trillion. they don't -- so they don't make political statements as to whether the complexion of the deal is -- hear me out. they are saying if it wasn't going to be four trillion, regardless of the mix, they wouldn't like it. they didn't like it. this is what they did. >> greta: can we stop putting them up on the