strategy to strengthen jobs in our economy, that there s not, are you ready for this? there s not one single penny, not one, that you can get from any tax expenditure, any special interest tax break, any loophole for the most well-off american that you can apply for deficit reduction. you know, i just do believe that there are sensible republicans and democrats who want to be part of what the president said is a common sense caucus. normally someone had to lead. have to, you know, i want the baby back, here s your 100,000 bucks. you know, you have to do it at exactly the same time. in this case the republicans didn t want to do it the exact same time. the democrats, the president has to lead. i think it has trickiness involved in it. we ll see. i think you re right in the sense the president is doing like what you said a hostage exchange. he s saying we know republicans
believe, i think there s a lot of republicans who don t believe, either. that you can t get another penny. not one single penny of revenue. from the most flawed special interest tax cut or loophole or tax expenditure that benefits the most well-off americans. the kind of balance plan we want, is one that i think has great support. and i think that there are republicans in the senate who see that the president is serious. that see that he s putting forward things that are politically difficult. understood. i want to interrupt you only because our time is limited here and i want to ask you specifically about the new jobs numbers that came out today. of 496,000 decline in labor participation. the lowest participation rate since jimmy carter was president, since may of 1979. what does the white house put this on? what does the white house blame for this, the payroll tax cut expiring? or the result of the sequester? what do you say it s because of?
going to try to get a budget, going to try to get a compromise. here s boehner s reaction. here s boehner s reaction here. if the president believes those modest entitlement savings are needed to shore up these problems, there s no reason they should be held hostage for more tax hikes. that s no way to lead the country. this is like the russians, the soviets used to be. i ll take what you re offering then we ll negotiate back from there. he s not giving anything here. yeah, let s think about what that position is, and i think how few people at home would support that. he s saying that as part of a larger deficit reduction plan which is part of an economic strategy to strengthen jobs in our economy, that there s not, are you ready for this? there s not one single penny, not one, that you can get from any tax expenditure, any special interest tax break, any loophole for the most well-off american that you can apply for deficit reduction. you know, i just do believe that there are sen
compromise. here s boehner s reaction. here s boehner s reaction here. if the president believes those modest entitlement savings are needed to shore up these problems, there s no reason they should be held hostage for more tax hikes. that s no way to lead the country. this is like the russians, the soviets used to be. i ll take what you re offering then we ll negotiate back from there. he s not giving anything here. yeah, let s think about what that position is, and i think how few people at home would support that. he s saying that as part of a larger deficit reduction plan which is part of an economic strategy to strengthen jobs in our economy, that there s not, are you ready for this? there s not one single penny, not one, that you can get from any tax expenditure, any special interest tax break, any loophole for the most well-off american that you can apply for deficit reduction. wro you know, i just do believe that there are sense ible republican and democrats who want to be
looking at reducing tax expenditure, and we veal a fight over where that money from cutting loopholes and celts and deductions in the code is going to go to, whether to bring down tax rates or reducing the deficit further. nan, si, we ll talk about it later in the show, but the fact is the business world, investing world, housing world seems to be ignoring what s going on. come march 27th we don t have a patch, we could have a shutdown. come may 18th, we could breach the debt ceiling again. give me your sense of how series these matters are and what s likely to happen. sure. i think congress will come to some sort of agreement next week before taking a two-week recess to keep funding the government. they will pass a continuing resolution this week. i don t think that will be a big issue. the question sort of moving forward is what s going to be the fight surrounding the debt ceiling. the republicans want to use that as an opportunity to make deeper cuts to entitlement programs. par