but there s no doubt that if eric cantor is willing to at least vote on a deal that has new revenue, that that is a huge paradigm shift. and i think that gives us all hope, although there s still a long way to go, that there can be a deal that has the president has said for a long time, a balanced approach. but ruth, what are the democrats willing to give, because there are some democrats, some of the more liberal democrats who are saying let s go over the cliff. that gives us more leverage. there s extremes in both parties that say let s go over the cliff. grover norquist was saying it the other day. i just want to before we get to the democrats, i want to be debbie downer for a minute on the republican side. i totally agree with mark. we re hearing a different tone and a different bottom line from republicans, so revenue is on the table. real revenue, not just imagined from dynamic scoring, and grover norquist s pledge, i think, is morabund if not already dead. but here is the
why not make the argument on the basis of what he s going to do to the debt rather than asserting whichever way you do it, you understand it doesn t add up. we have to make sure people understand he will not enumerate the loopholes he s going to close. he won t talk about the duh ductions and extensions. the most credible study, if you take all the deductions and all the exclusions for the upper end, for the very wealthy and take all those away and add in the great dynamic scoring, which you re talking about, the magical e lix sar if you cut taxes you ll have a skyrocketing great economy, ask yourself as an american voter, did that happen when we cut taxes in 2001 and 2003? the answer is no. months and months and months of negative job growth right after the 2001 tax cut. but when you start doing all of that, when you take away all those deductions, the math still
the exclusions for the upper end, for the very wealthy and take all those away and add in the great dynamic scoring, which you re talking about, the magical elixir if you cut taxes you ll have a skyrocketing great economy, ask yourself as an american voter, did that happen when we cut taxes in 2001 and 2003? the answer is no. months and months and months of negative job growth right after the 2001 tax cut. but when you start doing all of that, when you take away all those deductions, the math still doesn t work. and you end up with a giant debt. you re not making the argument about mitt romney equals giant debt. you ll watch the president, and i do it when i talk about this, when you get to the fact that you can t fill a $4.8 trillion revenue hole, there s one of two things that has to happen. either what we talk about a lot those deductions are going to
would cut the corporate tax rate in half to 17.5% and start reforming entitlements now, innocent steb years and cut spending $5 trillion in five years. the nonpartisan committee for responsible federal budget says, even if you could get all of those things through congress, you would end up adding to the deficit because of your tax cuts by $4.5 trillion over the next 10 years. your response? well, these are these organizations that don t believe that when you reduce taxes that you get more economic growth. i just don t accept the economic models that they use. we have seen it in the past, when reagan and bush, particularly reagan, would make the cuts, the dramatic cuts we are suggesting here ump you would see a huge spike in growth and more revenues coming into the federal government. they don t use dynamic scoring. they say if you cut things, you get less money, period and they don t offset the fact that the economy will grow faster.
no, what you said you wanted it to be according to the cbo. that don t do dynamic scoring. is it wrong? you cut tax grover, i love you dearly, you re wrong. all right, grover, it s always fun to chat with you. good to see you. next, the president s place of birth continues to be a political football when we come back, piers morgan s exclusive interview with the president s sister. don t go away. for pain? oh, bayer aspirin? i m not having a heart attack. it s my back. it works great for pain.