successful terms what are the great challenges for new york city over the next decade? you can t rest on your laurels, joe. i was in london a couple of weeks ago. the number of exciting things happening in london is scary for new york and other cities. these guys are pushing ahead. they are trying to new things. they become edgy. we have to make sure we don t the lose the advantages we have. we have done a lot. the city is better than it was. hopefully it will be better in the next few years than it was in the last few years. it s always the same thing. mayors deliver services. congress, federal and state governments reallocate funds and they are never held accountable for a specific thing. you look at the charade going on in washington now. they have shut down the government. yes, except they are rehiring everybody for the defense department. everybody will get paid. so all they really shut down was the revenue side for the government. they didn t shut down the expense side. yeah.
this pros he united in our belief the nation s fiscal crisis must be addressed and that we cannot leave it for the next generation to solve. that statement, issued in congress. the super committee must not end. the president said if congress tries to get around the automatic cuts, called for in the law that created the super committee, he will veto it. my message to them is simple. no. i will veto any effort to get rid of those automatic spending cuts to domestic and defense spending. there will be no easy off ramps on this one. we need to keep the pressure up to compromise. not turn off the pressure. the super committee s failure has important consequences. stocks fell sharply as investors added washington s gridlock over america s debt to an already long list of worries about economic growth at home and europe s financial crisis. plus, there are worries of a possible additional downgrade for the u.s. and the legislation that created that super committee calls for across
nice, i know why people want them because they benefit from them. but the policy issue has gone away. and then they should get cut back and so everybody pays fairly the same thing. what incentives do we need to push? well, farm incentives, energy incentives, i ve talked about the carried interest on hedge funds. it s a nice idea. i think you should do a number of these kinds of things. but i think the answer is to make tax policy or spending cuts sitting around a table with a pressure of we ve got to get something by november 23rd is just insanity. and that s why on the cut side the first thing i would do is say let s take simpson/bowles and adopt it in the entirety, at least the expense side. maybe one or two things not. were you disappointed the president didn t even follow the advice of his own commission? well, i think the president should ve let congress debate it and have a vote on it and yes, i was, because i think they are smart guys, but most
budget office is the liar. cbo has it both ways. they say, calculating the debt this way and the deficit this way. that s the way the cbo has always done it. you can make the case that because your spend is a six year window and your taxes are a ten year window we re not dealing in reality. whether or not this is precedent question is a different question. the biggest is there are solutions to health care that are not in this bill, have not been part of the debate. i was a big advocate of bennett, that whole routine. there s 50 ways to go at this that s not in this legislation. my question to all three of you how bad does it have to get earth on the expense side, care side, inequality side before we get to the mature debate. basically both parties are held to account for their failure to address the underlying cost problem. not going to happen before 2012, is it?
huh. we, the elderly recent that. we elderly recent that. i don t want to take your checks away even though you ve got plenty of money in the bank, but what about dealing with it for people in their 20 s and 30 s for the the future, that s what i m talking about. what are you going to do to deal that. and let s hear from adam. better ideas than i do. well, clearly. (laughter) . neil: and shall i speak? clearly, dagen s not running for office, but that s beside the point. i think it s important to point out here that we have two different issues. the debt commission was talking about expenses, right? they were suggesting raising the retirement age and i don t think that the democrats were saying, oh, everything is fine, they were saying they didn t like the idea of raising the retirement age, this is talking about the revenue side, not the expense side. neil: but adam think about it, they were saying that, you know, to charles point in the outfit here, that raising reti