the first term. four years ago almost to the day when the president came in with a stimulus act. the recovery act. at a time of huge economic global crisis. it was the first time it was a real wake-up call for the president and senior aides because every other time of national crisis, and remember, this was an international crisis, the country had come together. republicans had come in. and what did he get for it? he got three republican votes in the entire congress. he won t get three now for this kind of plan. so if republicans wouldn t step into that crisis at that point, why would they step into this crisis at this point? in fact, what we ve seen is they re willing to make the crisis worse. we heard from secretary geithner talk about us bumping up against the debt ceiling again, tremendously damaging for the very markets republicans say they care about. i think they re going to have to hear from the markets to understand just how bad this is again. there were rumors that the pres
four years ago almost to the day when the president came in with a stimulus act. the recovery act. at a time of huge economic global crisis. it was the first time it was a real wake-up call for the president and senior aides because every other time of national crisis, and remember, this was an international crisis, the country had come together. republicans had come in. and what did he get for it? he got three republican votes in the entire congress. he won t get three now for this kind of plan. so if republicans wouldn t step into that crisis at that point, why would they step into this crisis at this point? in fact, what we ve seen is they re willing to make the crisis worse. we heard from secretary geithner talk about us bumping up against the debt ceiling again, tremendously damaging for the very markets republicans say they care about. i think they re going to have to hear from the markets to understand just how bad this is again. there were rumors that the president was going
that was at the very start of the first term. four years ago almost to the day when the president came in with a stimulus act. the recovery act. at a time of huge economic global crisis. it was the first time it was a real wake-up call for the president and senior aides because every other time of national crisis, and remember, this was an international crisis, the country had come together. republicans had come in. and what did he get for it? he got three republican votes in the entire congress. he won t get three now for this kind of plan. so if republicans wouldn t step into that crisis at that point, why would they step into this crisis at this point? in fact, what we ve seen is they re willing to make the crisis worse. we heard from secretary geithner talk about us bumping up against the debt ceiling again, tremendously damaging for the very markets republicans say they care about. i think they re going to have to hear from the markets to understand just how bad this is again. t
position he will not compromise. because he wants to kick the habit of using the debt ceiling as a negotiating tool. obviously, it was a telling time for secretary geithner to put out that statement yesterday. did you find it political? no, i would never if the budget matters. no. but it does suggest that the white house wants a grand bargain type deal, that their investment is in getting something big together so that they can resolve all these things right now. you don t have to go and ask do this all over again in two months time, they can start focusing on other legislative matters. and politicians are inherently risk averse at the end of the day. there s they re concerned. there s an open question if we go over the cliff what happens. probably not that big of a deal if it s a week on two weeks. you ve got a payroll tax cut immediately goes off. unemployment immediately goes off. we don t know who gets the blame. if it gets to the situation where at the 1 is he hour th
members of congress still in their home district, speaker boehner put that ball in the senate s court. harry reid tossed it right back. are we looking at another lost day in the negotiations? hitching a right on air force one, the new senator from hawaii and it s not what we expected it to be. here we go again. the president in washington and another deadline. secretary geithner warns we will hit the debt ceiling even before we tumble over the fiscal cliff. good morning from washington. it is thursday, december 27th. this is the daily rundown. i m luke russert. two days after christmas and washington is back to work trying to harsh out a deal to avoid the fiscal cliff. the senate will get back from the session after holiday break. the president is expected to arrive back to the white house without his family to get back