these funds are only for disaster assistance and do not grow the baseline budgets or the scope of the federal agencies. this bill, mr. speaker, is the next step in breaking the status quo of excessive federal spending that's throwing our budgets out of whack. our house conferees thoroughly examined each and every program and agency to ensure that we are reducing spending wherever possible in this bill, this includes terminating wasteful, poorly planned, and controversial programs such as high-speed rail, noaa's climate change office, and the livable communities program. in fact, mr. speaker, we terminated 20 programs for a savings of $456 million. this legislation also reins in executive branch overreach by including several important policy items. these provisions kill job-killing regulations that create economic uncertainty, and limit government involvement in issues of life and liberty. including several provisions protecting human life and the second amendment right to keep and bear arms. finally this legislation includes a continuing resolution that will keep the remainder of the governm

the congressional budget office and the unified budget. there is two trillion 400 billion -- there is $2.40 trillion that you have put in the federal budget. any amount of money in a bank account is a set of numbers called electronically. but everybody wants to find a way to balance the budget on the backs of the american people. my point is that money does exist. it is a debt the united states owes every working american. if you take it off the budget, this is all psychological. you figure out how to get a balanced budget on the rest of the money. social security -- it turns out to trillion $400 billion, which is not big money, but it is a start -- these are modeled more on chile than the federal retirement plan. you find that with a few modest cuts in spending you can get to a very stable retirement system. it does make it harder to balance the rest of the budget. we have been hiding the size of the real budget deficit behind social security. i think it is time for us to be genuinely honest and deal with them as separate issues. here is the government. let's get the budget balanced. >> let us first realize, and this is why we have to be

in fact, the federal reserve securities purchases during and after the crisis have had the side effect of reducing the federal budget deficit. last year and the year before, we returned a total of $125 billion of those earnings to the u.s. treasury. and payments to the treasury and the current year will be substantial as well. in addition to our monetary policy role, the federal reserve shares responsibility with other government agencies for regulating and supervising banks, protecting consumers, and fostering financial stability. we're working with other agencies to increase the financial reserves that banks, especially the larger banks that can put the financial system at risk, must hold against possible losses. the fed are toughening the restrictions on the kinds of financial transactions that banks can undertake, and working to ensure that bankers compensation packages do not give them incentives to take excessive risks. we are requiring banks to compensate an assist homeowners who are unfairly treated. importantly, we are working to increase the resilience of the financial system against financial and economic

six republicans and six democrats were charged with trimming $1.2 million from the federal budget--$1.2 billion from the federal budget. >> our democratic friends said they will not cut one more dollar without raising taxes. it >> the whole deal is being held hostage to the idea that the wealthiest people in america should get a bigger tax cut in everyone else should chip in. >>justine: people are equally divided. 80 percent of democrats want to raise taxes on wealthier americans. 77 percent of republicans want to cut government programs. the deadlock triggers an automatic cut of $984 billion but not until after the next year is presidential election. the pentagon takes the biggest hit but otherwise the budget fights are relatively small. programs like medicare, social security and veterans' benefits will be untouched. some politicians are talking about repealing the automatic cuts, president obama had one word for them today. >> no! i will veto any effort to get rid of those automatic spending cuts. >> here are 4 fax about the super committee and the deficit battle. it took 200 years f

up, washington's super committee is back to square one after failing to cut trillion's from the federal budgete ball >> here is a live look at career square. protesters have called for a mass rally after voting and the first elementary a since ousting mubarak. right rack >> the raiders will start the game at 63 warming to 65. the extended forecast is showing us that we will continue to see mild temperatures into the work with. it will stay dry and then the things loose change wednesday into thursday. we will feel the winds pick up and temperatures will dip down into the weekend. the time right now is 8:48 a.m.. >>ysabel: earlier this week the super committee in washington charged with finding ways to cut the federal budget fight trillions of dollars and failed to come up with and solutions. if >>marty: now there will be a trigger, half from the military and half from other asks areas. the president said the he will veto any softening of those cuts. and is live this gretchen from the group's public notice. you have said the committee lacks the courage to address our fiscal crisis. where did the

lawmakers, will they reach a how to cut the federal budget? e fallout on occupied being pepper sprayed. >> more fallout on occupied being pepper sprayed. how the chancellor is ♪ [ female announcer ] light up your season with a brighter, whiter smile. with crest 3d white professional effects whitestrips. it penetras below the enamel surface to whiten for a smile that's sure to stand out. crest 3d white professional effects whitestrips. for faster results, look for our 2 hour express holiday special pack. life opens up when you do. investigating a carjacking. on saturday afternoon, a 59- year-old woman was walking to a younger woman the victims and she an out of gas and needed ride. the suspect pulled out a knife outtold the driver to get and sped off. i cannot imagine somebody falling for that trap. >> e can not be too careful. >> the owner of the car was not hurt. thece of looking for suspect and the car. it is a 2003 silver acura. researchers are looking for a who robbed a georgetown at knifepoint. walking -- thes along 38th walking jumped out

the six democrats and six republicans have to agree on how to cut more than $1 trillion fra the federal budget over the next decade. meanwhile, a vigil was held in laugh yet -- lafayette park. about four dozen people attended today's event. >> turning now to today's redskins game against the cowboys. and i guess we can cancel that amber alert put out to find the red skins' offense. for the first time in weeks the offense did show up, but alas, it wasn't enough. here's brit. >> you always have a good punchline. after the coach mike shan began took a moment to thank the fans for helping the skins fight so hard. he also said this team has one of the best character out of all the teams he's been around in his career. but unfortunately, that won't win you games alone. let's go to 22 seconds. skins on seven. grossman throws it into the corner for dante stallworth for the touchdown. it's tied at 24. after a miss, dan bailey has a chance to win from 39 yards away. and it sneaks by. a physically upset rex grossman. talk about how hard this game was. >> we try to end this rivalry. it is the best in the

the u.s. supercommittee federal budget cuts resolution there's an impossible taking place with the republicans fighting the democrats over the one point two trillion us dollar cuts in the federal budget next ten years and in case the parties fail to reach a resolution as many speculate at this point markets will continue to be selling off as the u.s. reste to be done read a further by the international credit agencies. and that's says from the business team this hour but you can always find a lot more online at r.t. dot com slash as. well. science technology innovation all these developments from around russia we've got the few jerks covered. ah ah. that's become normal names and move on is to me oh creation of the go to school system the global school system does not treat kids to feed the people of the world is created to maximize the profits. sure not trading the actual physical grain or trading promises for graeme to be delivered a month or six months or twelve months or eighteen months in the future. for some odd regulator silver or gold that can be negotiated in order to some degree. pla

> time is running out for the so-called super committee appointed to cut $1.2 trillion from the federal budget. negotiators are expected to announce today that they have failed. danielle nottingham has the latest. >> reporter: lawmakers on the so-called super committee appear ready to declare defeat. >> nobody wants to give up hope. reality is, to some extent, starting to overtake hope. >> reporter: the six democrats and six republicans charged with cutting $1.2 trillion from the federal deficit were supposed to have a plan ready to show the public today. but so far, there is no deal. each party blames the other for the deadlock. democrats argue republicans insisted on making the bush era tax cuts permanent as part of the deal. a move they say would only benefit the wealthy. >> we are not a tax cutting committee. we are a deficit reduction committee. >> reporter: republicans insist democrats were more focused on raising taxes instead of finding ways to cut medicare and medicaid, two big drivers of the debt. >> we are not going to tax our way out of this. we need to grow. and you can't grow if

o0 c1 >> we are looking for signs from capitol hill to see which parts of the federal budget get clippedmuch. all eyes are on the daily deals sector, watching e price off groupon's stock. wewe wl discuss those topics and more withur guests of a roundtable. bill flook foror the "washington business journal." and j josh boak with "politico." you just interviewed d this ceo of livingsocial. what is in the works for them? >> he makes an analogy to amazon when h he looks at the future of ththe company. day the deals has been what lilivingsocial has done since 2009. they do what is very similar to what g groupon does. he is thinking one day we want to diversify. we do not want to be reliantt on a sisingle product. the same way amazon is you c can go on and find anything. it is the same sort of diversification that they want to do so they are no so reliant on a single product. >> what was his temperature? did he feel confident? what were yogetting from him? >> he is ceo, and c's are naturally optimistic people. >> especially when you are talklking to a a reporter. >> absosolutely. how do you d

one of the reasons that the recovery act was necessary is that state balanced budget amendments forced states to rely on federal funds in order to make up for budget shortfalls that would have prompted cuts right at the time when state economies could least afford them. the federal government was effectively borrowing on behalf of the states that were constitutionally prohibited from doing so. but they desperatery -- desperately needed to in order to maintain their law enforcement, transportation, and their other responsibilities. even in texas where republican governor perry and the legislature opposed the recovery act, federal stimulus funds were used to close 97% of that state's budget gap. now that those dollars are gone, many states face a very serious budget crisis. can i have another 30 seconds? furthermore, house resolution 2 will require a 3/5 majority vote to raise the debt ceiling. this would have a catastrophic debt default like the one we have barely avoided this summer. given the polarization that we are currently experiencing, i have severe doubts that the simple majority could be secured, either

it's supposed to identify at least $1.2 trillion in savings in the federal budget. week, november 23rd. and if they don't reach that deadline, if they don't come up with a plan of their own, the bill that creates the committee would call for across the board spending cuts. that is the plan. do you think they'll get it done? 70% in the new politico/gw battle ground poll say no, 69% say no, they won't get it done. here to offer advice, two key members of congress say don't go timid, go bold. saxby chambliss and congressman heath shuler. you say don't be timid, be bold. if you look at that same poll i just showed you, if you ask the american people, will you accept increased taxes on the wealthy and corporations, 66%, senator, say, yes, to get this deficit down, 66%, means a lot of republicans say yes. why do we have most republicans in congress saying no, not any revenues, no? >> well, obviously, raising taxes is something that republicans have always been against, and are still against, but there's a way to increase revenues, john, without necessarily raising taxes. y

care will push up federal spending, measure the shares of gdp well above the rate of revenue that the federal government has collected in the past. as a result, putting the federal budget on a sustainable path will require significant changes in spending policies, significant changes in tax policies or both. addressing formidable challenges is complicated by the current weaknesses of the economy. and the large number of unemployed workers, empty houses and underused factories and offices. changes that might be made to federal spending and taxes could have a substantial impact on the pace of economic recovery during the next few years. as well as on the nation's output and people's income over the longer term. i will talk briefly about the outlook for the economy and the budget and then turn to some key considerations in making fiscal policy. the financial crisis and recession have cast a long shadow on the u.s. economy. although output began two years ago the pace of recovery has been slow and the economy remains in a severe slump. cbo published its most recent economic forecast in august, that forecast was initially completed in early july and updated only to incorpor

ef one watching has to take a penny out of every dollar of the business budget. the federaldot same thing to balance the budget and start this process of a stronger economy. florida is, i sense the next election g to see you. and thanks for being with us. >> our great, great american panel is coming up next. ♪ [ male announcer ] you never know when a moment might turn into something more. and when it does men with erectile dysfunction can be more confident in their ability to be ready with cialis for daily use. cialis for daily use is a clinically proven low-dose tablet you take every day, so you can be ready anytime the moment's right. ♪ [ man ] tell your doctor about all your medical conditions and medications and ask if your heart is healthy enough for sexual activity. don't take cialis if you take nitrates for chest pain as this may cause an unsafe drop in blood pressure. [ man ] do not drink alcohol in excess with cialis. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long-term injury seek immediate medical help for an erecti

and then when i worked with clinton in a bi-partisan effort to reform welfare and to balance the federal budget, in both of those cases you have to adapt yourself. what we got done was working with a liberal democrat in the white house. i would argue if you had a gingrich white house and we pick up a republican senate and keep the republican house, we ought to be able to get a great deal done to put america back to work. >> all right. you must be happy with the abc washington news post poll. it shows you're pulling up the rear, up to 12%, you're in the double digits. why is that? what do you think -- why are you numbers coming up? does it have any impact on what's happening with the other or is it your message? >> well, i think the debates have really helped, and i think that the sense that substance matters. this is probably the most worried the american people have been since the great depression, and i think there's a very deep sense that things aren't going right, that washington is on the wrong track, congress is at 9% approval. i think there's a very real desire to have somebody who has s

is going to get better, the budget, again happy city days better days great days are here again have the city days are right in here and it is going to take away all the federaludget fear happy days are coming wait and see the line and it will be free and nearly will bring -- mayor lee will bring happy days are here again ♪ supervisor chiu: thank you. next speaker. >> good afternoon, supervisors. i wanted to take a second to acknowledge my gratitude for the support for people's assembly that was put forward as well as the support for occupy sf as well as the support for people of california choice for medical cannabis. however, i am not here to speak about this today. i am here to speak about this man, an outspoken community youth leader from the bayview hunters point neighborhood of san francisco, and a week ago today, he was arrested. he was a victim of a political arrest. he was approached under serious pretext -- spurious pretext, where a couple of officers physically engage him. he is facing serious felony charges on an altercation that never needed to happen that was instigated by officers that is a direct result -- and we can show a history of this --

. >>> a supercommittee is working on a reduction deal to cut $1.2 trillion from the federal budget over ten years. and with the november 23423rd deadline looming, lawmakers are stuck on the same issues that prevented a debt-reduction deal two months ago. republicans are opposed to tax increases and democrats are opposed to cuts in health and retirement programs. but they say they have not lost hope for a deal. >>> italy is in the process now of forming a new document to deal with the nation's debt crisis. former european union commissioner mario monti has been appointed as the new prime minister, taking over from silvio beryl conei. berlusconi, who resigned last night. a series of sex scandals eroded berlusconi's public support. >> i think it became different when his wife left him saying i am leaving him because he hangs out with minors. >>> prime minister mario monti is moving quickly to appoint a new cabinet before european stock markets open in the next few hours. >>> a u.s. astronaut and two cosmonauts are scheduled to lift off bound for the international space station. it will be

the challenge. they lived on a food stamp budget of $4.50 a day. jackie speier says the food stamp budget is facing drastic cuts from the federal budget and the currentmount is not adequate. >> we cannot tolerate this huge gap that is being created and we cannot become a compassionless society in which we denigrate and demonize the poor. >> she said she ate a lot of eggs and tuna fish and went to bed hungry every night. >> that cat that turned up recently at jfk airport after being missing for two months has been euthanized. jack the cat had been checked into a cargo area of a plane heading back here it california. san jose was his home. he was lost in the chaos because of the hurricane irene. a veterinarian said jack had infections and wounds that wouldn't heal because of his skin that had deteriorated so much from malnutrition. that's too bad. >>> a memorial service is planned now for legendary writer and "60 minutes" icon andy rooney. >> he died friday just weeks after his final essay appeared on the news magazine. >> i don't know anything offhand that mystifies americans more than the cotton they put in pill bottles. why do they do it? >> check t

anti-wall street protests got 13%, 10% say the discussions in washington about how to address the federal budgeteficit and the national debt. so, is there a disconnect, judy, in terms of what the public would like more information about and what the press is actually giving them? >> well, there does seem to be on the economic front and on the occupy wall street front if the numbers are to be believed. for example, one of the numbers was interest, stated interest in the federal deficit. 10% the amount of time that was defeated to it. 2%. i think we're going to hear a lot more about things that are hard to discuss on tv, like, special drying rights, er's, that's what the imf is being asked to issue, it's like a debt so countries can stay afloat. all of this is going to interest americans, but i think the media has a hard time. >> jon: we got the new jobs numbers on friday, weren't exactly overwhelming, supposedly the unemployment rate dropped, but hard to figure out 80,000 jobs. >> went from 9.1% and better than anticipated and better than we originally thought we could belly ache about it being 9

washington is facing the possibility of automatic cuts to the federal budget. >> the one good consensusn both democratic and republican sides is that we have to reduce the deficit. we're sort of like a blindfolded man walking toward a cliff. if we keep walking we're going to fall off and die. >> reporter: automatic cuts are slated to start in 2013. hospitals would lose an estimated $43 billion a year in medicare payments. and the pentagon is slated to lose half a trillion dollars from its budget. congress returns tomorrow with some lawmakers looking to overturn those cuts. >>> it wasn't pretty, but the raiders take hold of the bears. >>> and we're going to look at what areas could see 40 degrees this week. >>> for the past few days we've been tracking the flow of the fog really not too much change for tonight. the fog regrouped and it'll be a big factor as we head into your monday morning commute. right now the maps as you can see on storm tracker 2. we have high clouds pushing through parts of the bay area. but visibilities have been coming down. latest report you can see santa rosa, n

i wanted to ask a simple question of my friends who oppose the whole concept of a balanced budget amendment. what makes us, the federal government, any different than the state and local governments who have to abide under a simple balanced budget concept? but more importantly, what makes us any different than the 74% of americans that simply say that balanced budget amendment is in the best interest of the citizens of this country? simply put, washington needs to stop this runaway train of spending. so often, too often even, it seems that this town has lost sight of the fact that taxpayer dollars don't just appear from some magical piggy bank but rather are paid by hardworking american families. we have a duty to spend these dollars wisely and unfortunately in this town that simply doesn't happen very often at all. the last three years, the last three years, not the last 30 years, not the last three decades, but the last three years we have seen the largest increase in the debt of this nation, in the history of this nation, and it is very clear, a constitutional amendment is the strongest option we have today to ensu

having failed to bring the federal budget under control, congress left on vacation, pulling the rug out from under consumer confidence as we head into the most important shopping season of the year. the failure to reach a compromise means that payroll tax cuts and extended unemployment benefits could expire new year's day, cutting into the income of millions. add to that uncertainty a report that we just got: the government says that the economy, as measured by the gross domestic product, grew more slowly in the third quarter than we thought. it was revised to just 2%. that is down from the previous estimate of 2.5%. we we have asked several story tondents to work on this story today. this hitsthony mason on how this hits consumer confidence. >> reporter: we should get a sense of what impact, if any, scott, that this had on consumer confidence quickly this black 15iday weekend when 150 million people are expected to head for the malls. the holiday windows at new york's lord and taylor drartment store always draw a crowd, but c.e.o. brendan tffman will tell you.... ant he important thing

it is a small part of the federal budget and in terms of solyndra, if president obama wants to be a venture capitalist let him resign in 2012 and see what he can do. >> rick, this comes down on a waste of money when you factor in all of the billions on solyndra-like loans. >> i have to disagree with the boss' characterization there. there is never anything wrong with cutting waste in government. i don't care how much. with respect to solyndra, it is not the president who played venture capitalist. the department of energy has made these kinds of investments for years. solyndra is only 1. 3 percent of the total investment that the energy department has and by the way, only loan that appears to have gone wrong . 98 percent are performing well. >> victoria, that is not true. beacon power and enter one. and other examples and who knows how many more will be damaged down the line, victoria? >> yeah, steve mentioned term venture capital and a lot of folks in the pro solsell camp. it is a role for government to take some capital and turn it in risk. you don't have all googles and facebooks, you do

>> beyond foreign policy, the debate focused on slashing the federal budget, including military spending they are cutting programs and cutting their capacity of america to defend itself. >> the defense department is going to be on the table. >> it is clear there are some things you can do in defense that are less expensive. >> they aren't cutting anything out of anything. all this talk is just talk. >> the congressional supercommittee means the pentagon would see its budget slashed. those cuts kick in after the 2012 presidential election. governor rick perry criticized president obama's hands off approach to the supercommittee. >> we had a president of the united states who is not a leader. he pitched this over to them and said here, figure this out. >> former governors romney and huntsman over the u.s. courts in afghanistan. >> we haven't done a very good job defining and articulating what the end point is in afghanistan. >> this is not a time for america to cut and run. we are winding down. the afghan troops are picking up the capacity and the mission is straightforward. >> gop candida

the balanced budget amendment doesn't close the gap for women who earn 76 cents to the dollar of what men make because only the federal government in the 50 states can close the gap between what women earn in our society and what men earn in our society. how does the balanced budget amendment close the economic gap between the rich and the poor in our society? i'd be happy to yield to my friend from virginia. mr. goodlatte: sure. i say that the rich pay far, far more than other people too and they should, but this balanced budget amendment doesn't make any distinction between how you balance it, whether it's by increasing revenues, whether it's by economic growth or whether it's by tax increases. mr. jackson: reclaiming my time. the failure of the balanced budget amendment not making any distinction between the rich and the poor is part of the fall is i and the problem with the balanced budget amendment -- fallacy and the problem with the balanced budget amendment. we are here as representatives of the people to close profound gaps that exist between our constituents and a society. we're supposed to be one america. we

and higher income americans as a way to reduce the federal budget deficit. budget deficit. a real compromise. >> one way or another, we will be trimming the deficit by a total of at least $2.2 trillion over the next ten years. i will veto any effort to get rid of those automatic spending cuts, domestic and defense spending. there will be no easy off ramps on this one. we need to keep the pressure up to compromise. >> joining us tonight on "the ed show," vermont independent senator bernie sanders. senator, good to have you with us tonight. who are the winners? who are the losers? how do you call it right now? >> well, the american people are the winners and the republicans are the big losers. look, as you've just indicated, ed, what is amazing at a time of strong political division in america, on this issue, the american people are united. every single poll that i have seen says that the american people understand that when the richest people are picking -- becoming richer and their effective tax rate is the lowest in decades, they have to pay more in taxes t

administration underestimated the costs of the vietnam war by $10 billion can and caused a blowout in the federal budget with inflationary results. eleven years later, complained one observer, the federal budget was, quote n a state of chaos. the shortfall in stimulus spending helped create a condition in which thest economy instead -- the u.s. economy instead of taking off as projected by greenspan and the administration plateaued and paused and appeared headed for a nose dive into a double dip recession into 1977. now, that in turn meant u.s. imports into europe would tail off and put further pressure on already struggling european economies. the second half of 1976 was dubbed the greenspan pause. he gave it that name. alan greenspan was forced to admit that the u.s. economy was not growing as fast as he had assumed it would earlier in the year. in fact, he conceded, it wasn't growing at all, it had paused. it was greenspan who warned the president that the economy was so fragile that even a 15% increase in the price of oil might be enough to tip the u.s. economy and the economies of its trading partn

hundred fifty billion dollars from the budget but if the super committee can't find one point two to one point five trillion dollars to slash from other parts of the federal budget by thanksgiving and the cuts will come back to the g.o.p. and as part the trigger mechanism the pentagon is going to have to give up another six hundred billion dollars however since this plan came out warhawks even members of the g.o.p. of been working tirelessly to keep that second round of cuts from happening even if the super committee fails several members of congress well they've all fearmonger and using terms like doomsday americanism they warn of a possible draft in the future they even said that the military would be unsustainable if it paste this money budget cuts but get a load of just how far some people are willing to go to prevent that as usual john mccain and his merry gang of neo cons take the cake on this issue and mccain's been outspoken against defense cuts ever since the idea was proposed and he doesn't know how to take no for an answer and in fact he even made a statement to the cable saying the secretary of defense and all the service chiefs say that it wo

and six republicans famed to reach a compromise on -- failed to reach a compromise on cutting the federal budget deficit. fox 5's laura evans with the story. >> after countless meetings the bipartisan committee was unable to reach a deal. the 12-member panel had been trying since september 8th to fine $1.2 trillion in save -- find $1.2 trillion in savings. republican senator jeff sessions says mr. obama deserves some of the blame. >> the commander in chief is absent from that, he needs to be leading in this. if he had told this debt committee, this 12, that he wanted an agreement, we would have had one. >> many democrats in congress were willing to put politics aside and commit to reasonable adjustments. >> this is not finger pointing. this is simply saying that we are stuck because we do not believe that the wealthiest people in america ought to get a huge tax cut. >> many are concerned about the automatic cuts that are set to kick in because of the failure of the super committee. those cuts are required by law to take effect in 2013. >> who would be affected by the automatic cuts? >> we're tal

days left far so-called supercommittee to figure out a way to cut nearly $1.5 trillion from the federal budget deficit or face automatic across-the-board cuts. remember, the committee was created after the president and the congress couldn't figure out how to do it. the committee is talking about raising taxes and cutting programs, but there is no sure sign of progress. congressional correspondent nancy cordes is watching them tonight. nancy? >> reporter: scott, back when this supercommittee started working in september, many of the members wanted to try to go big. cut $4 trillion from the debt. well, now even going small might be out of reach. supercommittee members appeared markedly more pessimistic today, even as they continued to negotiate sun-up to sun-down. republican congressman jeb hensarling. >> we are painfully, painfully aware of the deadline that is staring us in the face. >> reporter: his cochair on the supercommittee, democratic senator patty murray says they are hung up on the same issue that has stymied congress all year. >> where the divide is right now is on taxes. and whethe

the committee fails to reach a deal, that would trigger automatic cuts across all areas of the federal budget, including domestic and defense spending. >>> to 2012 politics, as newt gingrich continues to pick up support, the republican presidential field is narrowing down it appears to three central candidates. the latest poll shows romney atop the list followed by newt gingrich, still within the margin of error with mitt romney. herman cain in third place, six points behind romney. the new cbs poll shows the same three contenders in a statistical tie for first place, herman cain still slightly behind. the surge of gingrich is the big story. this comes as the eight major republican candidates met saturday night in south carolina for a debate hosted by cbs. the candidates participated in almost a dozen debates. this was the first to focus in on foreign policy. romney and gingrich slamming president obama's handling of iran. both of them saying they would be willing to go to war to keep the country from getting nuclear weapons. >> the president should have built credible threat of military acti

b, the federal budget still rises each and every year despite that. c, defense spending will still go up and d, we have a $15 trillion deficit. this is a drop in the -- this is nothing, whether they do something, brenda, or whether they do nothing, you will see absolutely no change. we've got to go big in the parlance of government and that's why i say put a zero behind steve's four and make it a $40 trillion cut, then you start to have something. >> all right. go big, scott? is that what you're saying, too? >> gary, now you're playing with some real money here. brenda, look, maybe he is just upset that the half of the country is going to go into winlter and not use his product for the next six months. i contest this issue with the businesses explaining -- here's the thing, brenda. look, i'm not so sure that this deadlock in washington is keeping people from hiring. i mean, the economy to jonas' point actually is starting to recover a bit. we got 2.5% gdp in the third quarter. fourth quarter looks a little stronger. we're still hiring workers blaming w

guest: as a percentage of the federal budget it is interesting. senhower talked about the military-industrial complex and military spending was half the military budget -- federal budget. we spend more on social security and medicare and medicaid now. then we do on defense. in a few years, the national debt will be larger than defense. if people are concerned about federal spending in washington and our ability to pay for government and services, they need to focus on social security, medicare, and medicare which are growing at an unsustainable rate. forget about cutting defense and half, we could take defense spending today to zero and did you don't do anything about the social security, medicare, and medicaid, in four years it would consume the entire federal budget. host: utah, republican line, good morning. caller: i had a job offer that was rescinded. i am heading profiles and other ones that are in different states. are these positions going to keep being rescinded. ? i'm sure many people are concerned and quite worried about their positions

with cutting through the partisan divide on capitol hill and coming up with a way to slash the federal budget deficit are about to throw in the towel. just when it seemed congress' approval ratings couldn't fall any lower, the bipartisan panel stands on the brink of failure tonight on its mission to cut over a trillion dollars in spending. they were given the job after an impasse over raising the debt ceiling nearly sent the u.s. into default over the summer and led to an unprecedented lowering of the u.s. credit rating. and this latest apparent failure has its own stark consequences. nbc's kelly o'donnell is on capitol hill with late details for us. hello, kelly. >> reporter: hello, lester. it seems super committee turned out to be an ironic nickname for this group that had been given added power to try to do something about the nation's long-term debt. but tonight it seems failure is almost certain. no deal and almost no time left. and it seems the same old partisan struggles got in the way. under deadline, but plenty of time to turn up all over tv this morning. >> today i'll be at the tabl

[applause] i will get $500 billion a year out of the federal budget and take the federal apatite from 25% of our economy -- appetite from 25% to accompany -- of our economy, to 20% of our economy. we will have a balanced budget amendment. it is essential for america to have the kind of economic strength that allows us to preserve the freedoms that make america america. i love this country. i love what this country stands for. i love the freedoms we enjoy. i see this as a critical time. i am in this race not because it is the next up on my political career -- i do not have a political career. i was only governor four years. i am still a business guy. i am of this country. i am in this race to make america stronger and make sure the next generation a joyous thanksgiving after thanksgiving in the nation that is free, that sees the world becoming more free and more poppers -- more prosperous. our combination of freedoms is the only solution for poverty in the world and the answer for peace in the world. american strength is the greatest ally pea's has ever known. i am proud to be with you