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FBN’s Rich Edson with the latest details on the fiscal cliff debate, and the amount of federal spending the government plans on doing regardless of ...
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-- -- I have gone over this fiscal -- at the end of the year or not the federal government will still be spending trillions of dollars a year -- basically no plan in place the board yeah.
For -- sit in these didn't talk about this you know and nothing's really gonna change is it -- -- -- -- Right now congress is just trying to figure out how to replace a trillion dollars an automatic spending cuts over the next decade but even with that nearly 800 billion dollars in annual spending cuts.
Federal spending is forecast to grow over the next ten years mostly thanks to increases in health care spending on.
Medicare and Medicaid feds are expected to spend more than three and a half trillion dollars this fiscal year nearly three point six trillion in 20144.
Trillion by 2016.
Five trillion by 20/20 one.
And one former Congressional Budget Office director says without controlling health care costs any budget deal will fall short.
We will still have an enormous lot of work to do and so this is just the beginning.
What -- -- back to the same topic in its 2013 20142015.
Unless we make big changes to these programs.
As for plans to contain spending in these deficit negotiations the White House has 600 billion dollars in various cuts and fee increases on the table.
House Republicans are offering one point four trillion in cuts Democrats say cutting too much too quickly will stunt economic growth.
Back to you.
And that there rocket scientist -- China -- -- America banks.
