Myself. When you think back about the last three years, whats the first thing that comes to your mind. The last three years of the Bush Administration. When you were chief of staff. Whats the thing that flashes in front of you . Boy, a lot of things flash in front of me. Theres a trauma and a recency effect to the financial crisis. That was the last thing that happened on the way out the door. For the Bush Administration. You remember we went through 7 1 2 very difficult tumultuous years, hugely consequential, dramatic changes in the world and in the united states. You know, wed had a recession. We had a crisis of confidence in american business. We had the 9 11 attacks, the war in afghanistan, the war in iraq, hurricane katrina. All of these things. So when we approached the last year of the Bush Administration, as we got to 7 1 2 years in, most of us thought lets try to wrap this up in a responsible and effective way and for whoever wins the presidency, leave the country and the whit
Gold steady around 1275, as for europe, mildly week action despite an eightmonth high in uk investor confidence. We are right up against the deadline. Senate leaders say theyre hopeful about a deal today. Our Credit Rating on review for a possible downgrade. Twitter selecting the New York Stock Exchange over the nasdaq for its highly anticipated ipo. And apple saying it will cut orders for the smartphone in the fourth quarter. One day to go until the debt ceiling deadline. The ball is back in the senates court this morning. Meantime, fitch has put its triple a rating on negative watch meaning a downgrade could be in the offing. Warren buffett weighed in earlier this morning on squ squawk. The led not to raise the debt ceiling after youve raised the money is really a political weapons of mass destruction. Jim calls it akin to a poisonous gas, asanine to destroy your reputation after a couple of years. I dont think what buffett says means anything to the people who are against this deal.
Going to be we saw it happen with speaker gingrich and it can happen here. Boehner walked away from a deal shortly after that. I want to come to the interplay between the leadership on the republican side in in a second but i have to ask this based on what you said. I think you know the president gave what was initially an off the record interview to the Des Moines Register editorial board, speaking although he did not get the endorsement of that paper in one of the things he said in the interview was he believed he could get a grand bargain struck on the debt ceiling if he were reelected on november 6. A son what youre saying they may not be possible if if the freshman and now sophomores and many members who come and dont eventually give a nether blessing to cut a deal. In her may feel in the same tough spot now that but he was last year. A ground part and based on what you say may not be possible if obama wins under any circumstances. This is outside of the book but i will do it anyw
Even as the nasdaq is rallying today. Theres red flags for tech. A very bearish outlook for Morgan Stanley on tablet, fesk. You need to hear whats going on in sales on devices like ipads. A special report coming up. The quarterbacks for ipad sales going forward. Hope you saw it this morning. Tim geithner unplugged. More of cnbcs interview with the former treasury Second Coming up. What does he say to people who still insist the Bank Bailouts was unnecessary. Tim geithner with very honest and straightforward answers as he spoke to our own Andrew Ross Sorkin. Coming up on closing bell. Looking forward to that very much. Final hour, continuing the snapback that began on friday if you want to step all the way back. Dow adding 115 points, shy of 16,500. S p 500, the nasdaq is the real talk, up 27 points, 1. 8 and theres the s p. Adding 17 points or 1 today, a strong start. 1. 8 on the nasdaq. Joining us. We have kathy wood, ron weiner and hank smith, steve saks from pro share advise errs an
We will put both our economy and our National Security at risk. That is why we wrote this budget because we owe to the country to lay out an alternative. We believe every person deserves a fair shot at a Brighter Future everyone deserves an america that works. We owed the American People a responsible balanced budget is a balanced budget will expand opportunity by creating jobs and by supporting our military it will help keep our country safe. The president s budget, it never balances, ever. Our budget on the other hand balances in 10 years and it puts us on the path to paying off our debts so that our children and grandchildren inherit a debtfree future. How do we do it . Verse 1 we stopped spending money we dont have. We cut waste and make muchneeded reforms to save 5. 1 trillion over the next 10 years. Our critics may call this deep but look at it this way. On the current path the federal government will spend roughly 48 trillion over the next 10 years. By contrast this budget will