could be a good idea at this stage. many deductions could expire. take all you can now and don t take them in increments. you should also make up for lost time. that means considering catching up contributions to retirement funds. take a look at that. you should also take state deductions on lease income. even states with no income tax may offer a deduction on that income. they call it free money for a reason. you are always better off putting the maximum amounts allowed into your 401 k. think about that. what happens if you owe the irs and can t pay. not a great situation. firstly, file any past due returns otherwise penalties for those will accrue quickly. take an honest look at your financial situation work out a payment plan with the irs. that s very important. once that plan is in place don t default. the tax agency will take the gloves off and will come after you full force. by the way good luck if you are doing your taxes over the next
majority leader reid and the republican leader mitch mcconnell spent many hours today. and as soon as the house had the fuss that they weren t going to vote they both went back into action so to speak sitting down and working together. so it s good news that they ve met that long. i don t think the agreement is completed, but we hope it s an agreement that can open the government, make sure we pay our bill and don t default. that s very significant. and then getting on a track to have negotiations for short and long-term budget issues. i heard senate democrats complaining about the fact they thought today was a lost day, mcconnell and reid were dealing coming up with a compromise. then boehner said stop doing that. i have things i want to do here in the house. boehner and his leadership team twice tried to introduce legislation to the house republican caucus, twice were rejected at the end of the day mcconnell and reid start dealing
you had done differently in 2011? after this, what you call this nonsense, has ended, what do you expect the political dynamics how do you think they ll have changed moving forward? i think it s an interesting question. in 2011, i entered into good faith negotiations with john boehner. he had just won the speakership. it was a time when we were still responding to the recession. deficits were high. people were concerned about it. i thought it was my obligation to meet him halfway. so we had a whole series of talks. at that point, at least, nobody had any belief that people would come close to potential default.
eliminate any topic of conversation. i ve shown myself willing to engage all of the parties involved, every leading, on any issue. that applies no matter how long the time frame is on the bills they would pass? the only thing i will say is that we re not going to pay a ransom for america paying its bills. that s something that should be nonnegotiable and everybody should agree on that. everybody should say, one of the most valuable things we have is america s creditworthiness. this is not something we should even come close to fooling around with. when i read people saying, this wouldn t be a big deal, we should test it out. but let s take default out for a spin and see how it rides. i say imagine in your private