boy were they amazing. welcome to early start, i m zoraida sambolin. and i m john berman. 5:00 a.m. in the east. what we re all talking about is morning is politics. after 36 hours joined at the hip, mitt romney and his new running mate are going their separate ways today. the former massachusetts governor says he s happy with his new teammate. at one point, ryan teared up with emotion during a stop in wisconsin. on 60 minutes, romney praised his vp pick for being a lot like him. of course, the president is weighing in, too. this is a man who s dedicated the last 14 years working in washington in ways that are not highly partisan. this is a man who s also analytical. he s a policy guy. people know him as a policy guy. that s one of the reasons he has such respect on both sides of the aisle. i m a policy guy, believe it or not. i love policy. i love solving tough problems. congressman ryan is a decent man. he is a family man. he s an articulate spokesman for gove
text my questions to you from this point forward. kaylee what is at stake in this election. we grew up in the 1990 s relative peace, prosperity, a balanced budget for a portion of the years and now, you know, i never imagined i didn t look at my adult life with nearly a 16 trillion dollar debt if i had a child they d owe $50,000. i m paying into a system set to go break in 2037. and double digit unemployment for my generation, we re worried and scared, and takes me back to 2008. i was in school when i got a question that really disturbed me, does american exception exceptionalism exist? at the time i thought, of course it exists. and here i am four years later, is the american dream for my children? it s scary. mike: peter, what do you think as we have a
the time what would be the biggest tax increase in 30 years. jenne: let s talk a little bit about what would happen if the tax cuts go away or stay. if the congressional budget office came out this week and said listen if we keep the current policies and tax rates for everybody, public debt as a percentage of gdp will be at 200% by 2037. keeping those tax cuts in place, the nonpartisan cbo says could be a real problem for the economy. so when we re talking about temporary extensions, what are we really talking about? i think the cbo also said the worst way to raise taxes is to raise tax rates, which is exactly what the tax increase would do. i fundamentally disagree with that assessment, by the way, jenna. i think you ve got to get this economy growing again. we are never going to get the revenues or the jobs unless we get the economy growing, and it s just in my opinion, very difficult to grow an economy. who wants to invest right now when you re looking at higher capital gain g
conversation. greece is going to vote next week. you talk about absence intervening events there could well be intervening events. this crisis is brewing in europe. we may not have the time. i may be more confident to the outcome in europe but i m realistic, too. if there s a global economic crisis that threatens another recession in the united states, it may force of hand of both political parties to to sit down and get to work. the cbo, congressional budget office has estimated this week that if nothing is done and if the bush tax cuts are extended, and the automatic spending cuts are not allowed to kick in, that the federal debt will be 200% of the gdp by 2037. that s a fiscal cliff not just a fiscal cliff we re talking about in the fall, but that s a real cliff, a disaster. it s an absolute disaster. think about this. at this moment in time, if we
gdp93% in 2022. ten years after that 2032 157%. 2037 spades 200% of gdp. how do you run a country that way? you don t. and the cbo says very clearly we are on a course that leads us to a greek-style financial crisis. if we continue down this trajectory interest will soon be the biggest federal spending program, it will be bigger than social security, bigger than medicare or medicaid, so we can t do that. we have to change course and do it quickly. bill: with regard to changing course, we westbound just doing a debate with alan and tucker about what bill clinton said recent leave. you said we need to listen to him in what way? the president is exactly right it would be the enormous mistake to allow the bush tax cuts to sunset at the end of this year. the economy is weak and that is a recipe for recession. the tax cuts should be extended for a year.