politics in washington could push america over a fiscal cliff and quite possibly into a recession if congress doesn t act. economists now say that the so-called fiscal cliff has now overtaken europe as the biggest threat to the u.s. economy. in other words, our homegrown storm has a bigger chance of causing a hurricane here than the actual hurricane that s blowing our way from europe. now i ve been bee rat berating on this show to head off a series of tax increases and spending cuts mandated to take effect on january 1st. congress couldn t come up with a better deal to raise the nation s debt limit last year. i am not alone in my calls. the federal reserve chairman and the international monetary fund are warning congress to act before it s too late. if you get hit by another recession, you ll join me in pointing my finger directly at the political partisanship that is poisoned your path to economic stability and prosperity. now if i were a politician, i would not want to be p
in south carolina. another move by the president is also drawing fire. not just in the south. correspondent shannon bream explains. this is a constitutional crisis. mark makes is president of the national right to work legal foundation. one group asking a federal judge to step in and declare president obama recent appointment to the national labor relations board unconstitutional. they contend the president s decision to make those and one other recess appointment while senators were home for the holidays goes beyond the constitutional limit on the executive branch. and that the senate actually was in session at the time. this president said because they won t act, i must. i think what he said is i don t care what the constitution says here. process be damned i ll do what i want that. is a serious violation. they re relying on a january 6 memo after the president named three new members to if nlrb and richard codray to head the consumer
year s state of the union. the interior department is in charge of salmon while they are in fresh water. but the commerce department handles them when they re in salt water. it hear it gets more complicated once they re smoked. reporter: nevertheless, the president made that joke 12 months ago and is only now taking action. republicans may not be in a mood to work with him after he jammed through so-called recess appointments for people like consumer cop richard codray. when president obama comes up against a constitutional rule that gets in the way he ignores it. reporter: the two senate democrats have come out and criticized the plan. mark begget of alaska is worried about the fisheries and max baucus says moving the u.s. trade office to a new bureaucracy might hurt the u.s. exports. bret: it s friday before a holiday weekend. we re always on the look-out for document dumps from the administration in this time. sure enough, we had documents about solyndra today.
year s state of the union. the interior department is in charge of salmon while they are in fresh water. but the commerce department handles them when they re in salt water. it hear it gets more complicated once they re smoked. reporter: nevertheless, the president made that joke 12 months ago and is only now taking action. republicans may not be in a mood to work with him after he jammed through so-called recess appointments for people like consumer cop richard codray. when president obama comes up against a constitutional rule that gets in the way he ignores it. reporter: the two senate democrats have come out and criticized the plan. mark begget of alaska is worried about the fisheries and max baucus says moving the u.s. trade office to a new bureaucracy might hurt the u.s. exports. bret: it s friday before a holiday weekend. we re always on the look-out for document dumps from the administration in this time. sure enough, we had documents about solyndra today. right.
the president did not mention lew s more recent private sector experience working for citigroup from 2006 to 2009. even though bill daley s business ties were touted when he was named chief of staff one year ago. he has led major corporations. he possesses a deep understanding of how jobs are created. the daley appointment was after republicans had taken control of the house. the president was trying to prove he is not antibusiness. now as he gears up for his own re-election, the president is steering a more populist course. especially after using a so-called recess appointment. to bypass republicans and install richard codray as the new consumer cop. make sure that the big banks on wall street play by the same rules as community banks on main street. the adrianna huffington reported in 2008, lew headed the alternative investment division at citigroup. a team that handled private equity investments, hedge fund bet and massive gambles on sub