but there s search intransigent the on both sides. and that s what s scaring the market, the business demand. megyn: here is the concern among many republican house members and many voters out there, that they believe this president is going to spend us into oblivion and he does not recognize he has said he doesn t think we have a spending problem and hear him talking he s made 2.5 trillion in deficit reduction already and people are saying that s funny math. that s just not real spending cuts. and there is a question about whether the republicans will stand firm or whether they will let him, quote, spend us into oblivion. we had a successful fiscal cliff deal that adds another 4 trillion dollars to the debt. every time we have one of these great deals we look at it gets bigger and bigger. and the same tax that the president says we should be paying. the bottom line the president doesn t want the kind of spending cuts it takes to bring the real, real legitimate financial, now,
together a great package, but obama ignored it. it was a proposal, and it should be let s sit down and start talking about. certainly one of the most important, we face long-term is the debt crisis in america and where that s going to take us over the cliff if in fact we don t address those basic fundamental problems. he s never addressed them. he s basically taken a pass on what one of his most important responsibilities when he got elected in 2008. sean: july of 2008, he said about george bush, that he is unpatriotic and irresponsible for $4 trillion in new debt over eight years. he said george bush and his administration took a credit card to the bank of china in the name of our kids and grandkids and, you know, has spent us into
together a great package, but obama ignored it. it was a proposal, and it should be let s sit down and start talking about. certainly one of the most important, we face long-term is the debt crisis in america and where that s going to take us over the cliff if in fact we don t address those basic fundamental problems. he s never addressed them. he s basically taken a pass on what one of his most important responsibilities when he got elected in 2008. sean: july of 2008, he said about george bush, that he is unpatriotic and irresponsible for $4 trillion in new debt over eight years. he said george bush and his administration took a credit card to the bank of china in the name of our kids and grandkids and, you know, has spent us into
so this all actually happened late last week when the financial giant revealed it had made this risky credit bet in the european market. so now, we re hearing three executives are expected to resign and bloomberg is now reporting morgan s entire chief investment office of london could be cleaned out. the trades are raising some very, very serious questions this morning about whether the country s biggest bank learned anything from that financial crisis. let me remind you, that was merely four years ago and what happened to the laws that were supposed to stop all of this? that s one of the big questions we re asking this morning. many of the rules created by the dodd-frank bill still aren t in place, two years later. ceo jamie dimon acknowledging this new mess could give regulators and members of congress more reason to tighten any loopholes. have you given regulators new ammunition against the banks? absolutely. this is a very fortunate and inopportune time to have this k
gas prices overnight jumped 3.3 cents a gallon on fears iranian oil, the world s fourth biggest stash of crude, could be disrupted. if iran made good on its threats to halt oil supplies, which it s promised to do, it would hurt consumers around the world. the strike team says it would send the united states into another recession with gas prices possibly hitting $4.75 a gallon, but it would also devastate iran. 80% of the nation s economy is linked to oil and gas. will it come to this? rudy giuliani was mayor of new york city during 9/11 and he comes outfront tonight. good to see you. nice to be here. let me start with this issue of the rhetoric here. do you think it s going to get to the point where iran feels threatened enough to do something like shut off its crude oil supplies? i do. it does have a devastating impact on them. they re very good at threatening. the threat i think you have to take as a real one and as we ratchet up pressure on them, they may very wel