right/left axis, then 16 negotiations may be a middle ground. if the parties can t find a middle ground, it s because a middle ground doesn t exist. when negotiations seems stall, what else to do but add another negotiate into the mix. today, president obama announces he will release his budget on the 10th. congress may have better luck lurching from crisis to crisis with a series of stopgap measures to create panic than trying to come to an agreement. wait. they are already doing that. let us turn to john, from the new yorker and new york times columnist and host of squawkbox on cnbc, andrew ross sorkin. thank you for joining us. andrew, i remember not but several weeks ago you were at the charming mountain get away at davos. you said to me in not so many
can be plotted along a right/left axis, then 16 negotiations may be a middle ground. if the parties can t find a middle ground, it s because a middle ground doesn t exist. when negotiations seems stall, what else to do but add another negotiate into the mix. today, president obama announces he will release his budget on the 10th. congress may have better luck lurching from crisis to crisis with a series of stopgap measures to create panic than trying to come to an agreement. wait. they are already doing that. let us turn to john, from the new yorker and new york times columnist and host of squawkbox on cnbc, andrew ross sorkin. thank you for joining us. andrew, i remember not but several weeks ago you were at the charming mountain get away at davos.
are being drawn and thomas, this is a similar fight that the white house had with congress in 2011. the white house back then was asked about invoking the 14th amendment and the white house said they were going to use it and they, in fact, never did. they had democrats from outside of the white house and former president bill clinton, for example, who said the 2011 battle that the president should invoke the 14th amendment and just increase the debt limit unilaterally. of course,a i lot is at stake. when they talk about the boehner rule, but what s the likelihood or the talk that there could be these small stopgap measures. maybe every month in extending the limit. just so and just so. i think that s a real possibility and i look at the way that washington has dealt with these croixes ease in the past months, that is what they ve done. they ve used these stopgap measures and we saw that
spend it. with a divided congress this time around, did this president win any capital? well, certainly he did. i mean, he got re-elected. he got over 300 electoral votes as you know. we picked up two seats in the senate, picked up seven seats in the house. he has some capital, not unlimited. but i think the president is very serious about wanting to do something about the economy. i think that the republicans, if they are smart, they will find some middle ground. if they don t, are going to be in real trouble. i think the president has capital but only a limited amount. he will spend it hopefully wisely to get a deficit reduction deal passed. but i agree with tom, you don t want this thing done on the fly in the next month and a half. you can do some stopgap measures, but this is too serious and it needs to be done over the next year, perhaps the next six months with both parties participating. alex, rather than spending capital i think he needs to be very diplomatic about this, g
that he has voted for in the past and it s republicans who can t see their way through the threshold anymore. the difference in reaction to the latino crowd today and yesterday was obvious. first let s take a look at president obama s wrap-up today. america was built by people who said something different. who said yes, we can. who said and as long as i have the privilege of being your president, i will be alongside you fighting for the country that we together dream of! god bless you. thank you god bless the united states of america. and the reaction to governor romney s speech was much more muted. it s easy to selectively edit these things but actually these are some of romney s bigger applause lines. as president, i won t settle for stopgap measures. i ll work with republicans and democrats to build a long-term