bad news, bad news, bad news. this is the moment of posturing. a lot of posturing. until we hear good news. the framework of the deal is beginning to emerge. i ll do whatever it takes to get this done. we have a debt crisis. i ll do anywhere and do whatever it takes. all eyes on the white house. they re going to get right up to cliff on new year s eve. we re all going to be hugging cliff. it s like when a fish show starts. the crowd i hope nobody catches that reference. all eyes on the white house. together again. what s his name? table for two. don t help me, don t help me. mr. romney goes to washington. mitt romney makes his way to the white house. the political power lunch of 2012. it s not exactly the way he wanted to get there. president obama and mitt romney meeting for the first time, privately. when we say private, we mean private. no cameras. no cameras allowed. no staff. to move forward and have a lunch. it s weird. th
republicans. john boehner said again yesterday, we re open to raising revenue, but we just won t go with a higher tax rate even on the wealthiest americans. that means closing loopholes, but that doesn t get us there. where do you see republicans, and then on the other side, the white house willing, at least, to move a little bit? well, i don t see them necessarily being willing right now. i think to the professor s point, they re sort of jockeying to see exactly where they can find that kind of give in the system. i think when this thing gets played out at the end, they re going to get right up to cliff on new year s eve, we re all going to be hugging cliff and giving cliff a kiss on the cheek. hugging cliff. but we re not going over it. i just don t think we re going to go over it. they re going to push this thing out about six months into probably the beginning of the second quarter to give themselves room to sit down and negotiate because boehner and company are putting a ver
think the comments are so important. there will be more like them as we move closer and closer. to get all the credit raters and the people who are watching this from outside of government to understand exactly how this will work. that yes, on new year s eve we will go off the cliff and then the next day the congress will go into emergency session to fix this. and actually be able to, if we talk about it enough over time, be able to show those observers that this is actually the way to end up with the best policy in january of next year. yes. and what moody s today expressed some concern about, and another credit rating agencies and other observers are concerned about is not that we will not have a current budget deal. it s the current budget deal that forces us over the cliff january 2nd is going to cause a recession and all sorts of economic calamity in the united
income distribution than the 2001 and 2003 tax cuts. as for the fears that going off the cliff on new year s eve would result in economic disaster, the former budget director explained as we have on this program, that there is a big difference between going off the cliff and staying off the cliff. is that going to be enough to avoid a recession in 2013? even the concongressional budget office is saying we will see it because it s not being addressed. what they re saying is if you go over the clif and stay there, that is such a fiscal constraint that that will cause a rescissirecessio recession. joining me now the former labor secretary and the author of the book beyond outrage and the political correspondent for guardian u.s. bob reich, it s conservative
the way we re supposed to be talking about things. and it really does have a big impact on our ability to actually move forward with things. but robert reich that s why i think the comments are so important. there will be more like them as we move closer and closer. to get all the credit raters and the people who are watching this from outside of government to understand exactly how this will work. that yes, on new year s eve we will go off the cliff and then the next day the congress will go into emergency session to fix this. and actually be able to, if we talk about it enough over time, be able to show those observers that this is actually the way to end up with the best policy in january of next year. yes. and what moody s today expressed some concern about, and another credit rating agencies and other observers are concerned about is not that we will not have a current budget deal.