GOP vice-presidential candidate Paul Ryan wants to slash the deficit through major spending cuts. A similar plan is already being carried out in the UK.

That's grown from $9.2 billion. The $16 billion is in projected spending, and that would be more than the money that could come in. Gov. Jerry Brown is expected to talk about the details later today.

Commentator Liz Herman says we need to find a way to both reduce the deficit and spend the right amount on social services.