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Says no deal the bipartisan panel fails to come up with a plan to cut one point two trillion dollars from the federal deficit.
The impasse now triggers automatic up across the board spending cuts starting in 2013 -- who is gonna take the blame.
-- second look Karl go to see how it all breaks down.
A Karl good evening to you want to start with a poll that has just come out quinnipiac.
Assigning blame here basically how voters feel about who's gonna pay the price here everything's gonna be to blame -- the committee the president can't come up with a deal.
President Obama and the Democrats 38%.
The GOP 44%.
The restaurant -- Carl what does the GOP do with that number.
Well have to engage and say I'll point out that the president to fill the lead on this issue.
And look it's not gonna -- the president even if these numbers stay where they are today because at the end of -- people are gonna say you're the guy in charge of why did you get something done.
And Keith Hennessey colleague of mine for them on the White House had a very interesting blog posts this -- And which you pointed out the administration today that the news conference a Press Secretary said.
That the Obama administration was quote very engaged in quote with the Europeans unsettling they're dead that -- dead issue.
And yeah it was completely and engaged with the super committee effort here in the United States.
Well and you've heard this president say -- be casting people run against a do nothing congress so.
Not to be cynical but you know was there some motivation all along for some on one side of the ticket or -- For this thing to fail.
Well the president has had has not been invested in this at all I mean -- He's sort of a key Tennessee's blog post pointed out that there -- five opportunities the president had to tackle entitlements -- -- deficit.
And he will start every one of them they had democrats' supermajority is known nine -- -- they did nothing on entitlements to -- reducing the debt.
Simpson Bowles came out in the fall of 2010 the president stiff -- it.
The president earlier this year attacked Paul Ryan -- Paul Ryan of Wisconsin for suggesting entitlement reform after a couple months earlier saying.
It was a serious effort the summer when we got close to a big deal.
The sort of grand bargain to present at the last minute.
Backtrack and said he wanted 400 billion dollars more in tax increases before -- -- anything.
And then of course we've had the super committee where the president even a spokesman today -- at the beginning of the process we played out a proposal.
And that was the closest they got to be -- engaged.
I got a 61 that was not included in key Tennessee's list the president did not address this except for less than one paragraph.
In his state of the union speech this year you would have thought that if this was a big pressing issue that the state in the union would have been devoted to -- head or substantial parts of that.
Rather than its principal topics which were high speed rail high speed Internet and quote countless Green jobs which doesn't look particularly good.
In the aftermath of the bankruptcy excellent.
Carl you mentioned they Bowles Simpson commission that was a commission created by this president to find.
The solution city's massive problems that everyone agrees are coming.
They're happening they're playing out right now here in the US there have been senators from both sides of the aisle who have spoken up today after the committee announcing hit failed saying.
Let's get a vote on -- cents a do you think this president would endorse that idea what Harry Reid -- control the senate do that.
Well President Obama had a chance to endorse -- when he came out -- as I say he -- army and a very polite thank you appreciate your report.
Don't expect me to say anything in favor of it and disappeared from the seats on all things gonna change now but you've touched on an interesting point here we could step back just for a minute.
We're attempting to get a grand bargain like Simpson Bowles which has lots of complex items in and and lots of controversial provisions.
Even a grand bargain this summer which we came this close to getting had lots of big controversial items jammed into one gigantic package.
Maybe our problem is to be found in how big the packages and how comprehensive we're attempting to make it.
You may remember from your history lessons the compromise 1850 Henry Clay attempts to stave off the threat of civil war or -- union.
By having five majors that he thinks will live together -- north and the south.
Forever though it turned out to be ten years he proposed is one big package of five items.
And wind down to defeat.
And yet following that Stephen Douglas step forward and taking each element of those of the other grand bargain of 1850 to compromise -- 1850.
And pass them as individual pieces of legislation.
-- different majority voted to admit California's a free state thereby guaranteeing.
The north's control of the United States senate forever then voted for the fugitive slave act which the south wanted.
But nonetheless all five past I wonder if there weren't elements of what the super -- that he was talking about -- -- Simpson -- that people could agree on.
And move together but not trying to get it all done -- -- but move items it.
There's some agreement on.
And at the end of the day and a for the majority who vote for you know -- majorities who votes for virtually all the items to be found Simpson Bowles or to be found in the in the near deal that appear to -- on the super committee.
And we will talk with one of the members of the super committee pat Timmy coming up in just -- -- -- try to get a little bit more detail from him now that.
It they have called an impasse maybe he can give us a little bit more scoop.
But publicly we know that some of the sticking points for the Republicans it was about.
They wanted to see entitlement reform and the Democrats were were adamant that that was something they wouldn't talk about although some say they did ultimately put it on the table the Democrats -- course blaming the Republicans saying they were not willing to get rid of the bush tax cuts and and their language they were protecting their millionaire and billionaire friends.
So it would -- the city -- issue -- -- everything else could they find some common ground.
Well look the Democrats look at the heart -- that the Democrats say we won't cut a dollar in future spending.
And less you give us big tax increases on the on the tune of trillions of dollars to Republicans came up with.
A revenue and with tax reforms -- generated additional revenue.
Car as senator Toomey can tell you about those that were in the hundreds of billions of dollars but the Democrats literally said will not cut a dime.
And spending unless you give us billions of dollars in tax increases and look here's what's gonna happen as a result of the -- -- of the Democrats unwilling to make any deal whatsoever.
With -- the automatic cuts.
Fall on defense 456.
That's the smallest part of the budget -- we're gonna talk about and the biggest cuts go there 294.
Billion dollars from non defense discretionary.
Most of the budget -- be found -- mandatory spending -- yet a minority of the cuts the automatic cuts that started 2013 come in the mandatory programs.
A 123 billion from Medicare and 47 billion from other mandatory.
And the Medicare cuts are disproportionately reductions in the amount of money we pay doctors and hospitals for.
For providing these services which means we're gonna have fewer doctors and fewer hospitals available to do these things for Medicare patients.
And you mentioned the things that will kick -- with sequestration of course that's what happens if they didn't reach a deal.
So all we heard the president say today if there -- any congressional effort to go round sequestration to get rid of these up painful automatic cuts that -- again.
He's not gonna -- forty said there are no easy off ramps here so what do you think do you think that effort will ramp up on Capitol Hill.
And I think there's going to be a lot of they're gonna examine all the possibilities and again let's go back to.
If we want to try and get to one point two trillion dollars usually there are two ways to get there.
One -- to cut one point trillion dollars all ones.
In a package that neither the you know that -- that the Republicans are they have offered one but the Democrats won't go for because it doesn't have enough tax increases which means more future spending.
Or even go added ability time and I think that's what's gonna happen house Republicans are gonna -- to start taking elements.
A Simpson Bowles and of the proposal that senator to me and others laid out in the super committee means.
And start to move it through the house and senate to the senate so that if if there's no progress on this it's on Harry Reid and the Democrats.
But look let's be honest where -- really belongs is on President Obama he is the president of the United States he should be leading this process he should be.
He says he's very engaged in helping settled your -- Europe's debt problem.
Maybe he ought to be engaged even a little bit and trying to solve the debt problem in the United States.
All right so -- moving ahead to the 2012 race how does the GOP whoever the eventual nominee.
Take on this issue because it if -- language from the president the Democrats continue stating we know they're going to say this is republicans' fault the cause of protecting their rich friends.
-- Will look at what you do is you go back to what the president said in the 2008 campaign there's lots of campaign footage of him talking about how he's gonna stop the deficits and how he's gonna bring spending under control.
And I was gonna write the political -- -- -- the financial house the United States.
And those are on camera and it's his voice and his.
His words and I what I think the Republican presidential nominee ought to say is here's what he promised you and aren't you disappointed don't you have some regret he spoke beautifully.
But he didn't deliver on what he said he would do and look that's that's the point this president has failed to lead.
He's been absent without leave on this issue he criticized the deficits of the bush years but -- run -- more debt in three years.
That happen in the previous eight years combined I mean we -- on a fiscal path and is unsustainable and the president seems.
You Weis said the right things in 2008 seems completely unconcerned or unable to act today.
A call and ask you very quickly out before we let you go what do you make of the new polls that show that Newt Gingrich of the last week or two is really out risen up.
To challenge Mitt -- at the top.
Well -- we've had a series of candidates rise.
And most of them fall and and -- is the latest one and you can understand why in these debates he's been the most informed person on the on the stage.
And he is.
You've got to got to got -- taken the opportunity to rise up as others have fallen now we'll see.
How well he takes how well he -- in building this in the early states into something that will matter on.
January 3 when they start going to vote and I -- shortly after that when they vote in New Hampshire and South Carolina.
You'll also see how he survives -- media scrutiny one of the reasons it.
These others have fallen as they've gotten a bright light on -- and they are used to it and -- and they -- wilted under we'll see how -- speaker does.
Carl great to see tonight and the white board we're very excited that it made an appearance tonight thank you Carl.
Will acknowledge -- but I've also got my.
Both said -- I don't have my iPad with a new scribble function on via automatic white board I'm now going high tech as well.
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