The fight over the federal budget. We look at the numbers and America’s fiscal future.
Budgets aren’t fun when you’re deep in debt. And the US government is very deep in debt. Last week, Republicans battled with themselves over how much to cut right now. This week – today – the President puts his new budget on the table. His theme is cut-and-invest. A trillion dollars in deficit-reduction over ten years, he says. Two-thirds from spending cuts. One third from new taxes. Republicans say phooey, it’s not nearly enough. Deficit hawks say neither party is serious yet. And most Americans are just waking up to the choices facing them.
- Tom Ashbrook
Jim Tankersley, economics reporter for The National Journal.
Jonathan Allen, senior Congressional correspondent for Politico.
Rep. Henry Waxman, Democratic Congressman from California.
John Campbell, Republican Congressman from California.
This program aired on February 14, 2011.