Unemployment insurance to be extended. We cant cut our way to prosperity we need real economic growth. And many of us believe on both sides of the aisle that fundamental reform of our tax code will help us get our economy moving faster and put more americans back to work and more americans on the tax rolls. How we get there, god only knows. Reporter voters who expected congress to watch over the so i think the tax issue and the job issue needs to be looked reporter voters who expected congress to watch over the economy after the election are watching the fiscal cliff with growing alarm. Its going to mean a lot of problems, the job situation will actually get worse because then companies cant borrow money and if you cant borrow money, then youre gonna have problems with hiring employees and stuff like that. Reporter the holidays are usually times that bring Families Together and many would like to see that happen at the National Level as well. So i think the tax issue and the job issue
Captioning sponsored by wpbt this is n. B. R. Susie good evening, everyone. Im susie gharib. Tom is off tonight. President obama tells republicans and democrats they have ten days to work out a fiscal cliff deal. And he says its doable. Tonights market monitor guest is not scared off by cliff worries. Hes buying stocks, saying the markets will do well in the new year. Hes Richard Steinberg of steinberg global asset management. And warren buffett, the oracle of omaha has plenty to say on taxes and the fiscal cliff we talk with his longtime friend and Fortune Magazine journalist carol loomis. That and more tonight on n. B. R. Some Straight Talk from president obama tonight about the fiscal cliff. Speaking to reporters from the white house he said hes ready and willing to get a comprehensive packageone,ut its up to republicans and democrats to make it happen. Nobody gets 100 of what they want. Everybody has to give a little. Susie the president also proposed a smaller package that prevent
Unemployment insurance to be extended. We cant cut our way to prosperity we need real economic growth. And many of us believe on both sides of the aisle that fundamental reform of our tax code will help us get our economy moving faster and put more americans back to work and more americans on the tax rolls. How we get there, god only knows. Reporter voters who expected congress to watch over the so i think the tax issue and the job issue needs to be looked reporter voters who expected congress to watch over the economy after the election are watching the fiscal cliff with growing alarm. Its going to mean a lot of problems, the job situation will actually get worse because then companies cant borrow money and if you cant borrow money, then youre gonna have problems with hiring employees and stuff like that. Reporter the holidays are usually times that bring Families Together and many would like to see that happen at the National Level as well. So i think the tax issue and the job issue
Here we are at the eleventh hour, and the president still isnt serious about dealing with this issue right here. Its this issue spending. Reporter the president left his spokesman to respond that republicans were pushing a plan of fantasy economics that raised more revenues while also cutting taxes on the wealthy. What spending cuts have the republicans put forward . The proposal that weve seen is a twopage letter, and the much discussed second proposal is less than half a page. There is no specificity behind what the republicans have put forward. Reporter right now, the risk is rising that we will avoid the fiscal cliff, but end up with what some call a worst case outcome. We get some sort of hoaky deal thats put together with gimmicks and baseline adjustments and all that stuff. They get by the fiscal cliff without much damage. Wall street breathes a sigh of relief, but weve done nothing for the longer term debttogdp ratio. Worst of all, most of what they do will take effect immediat
Moving our economy for 160 years. Bnsf, the engine that connects us. And by the alfred p. Sloan foundation. Supporting science, technology, and improved Economic Performance and Financial Literacy in the 21st century. And with the ongoing support of these institutions and foundations. And. This program was made possible by the corporation for public broadcasting. And by contributions to your pbs station from viewers like you. Thank you. Brown the u. S. House of representatives headed toward approval this evening of a tax plan that republicans backed and democrats said was a waste of time. The division demonstrated that efforts to get a bipartisan agreement and avoid the fiscal cliff are stuck in stalemate. The house will be in order. Brown House Republicans pushed their plan b. Despite a veto threat from the white house and the strong opposition of senate democrats. Speaker john boehner insisted the president had left him with no alternative. For weeks the white house said if i moved o