entitlement program, here we are with a spending program and he comes out and sort of got nothing left except for patent legislation and give recommendations to the congressional committee which is nice. bill: construction guys to rebuild america that s his big deal. carried kicking and screaming into this debt debate in the beginning. he did not want to have a part of it he wanted a clean debt ceiling vote or add 9 trillion so the tea party is leading on this. bill: let s advance the story. juan, i put forth six things that would immediately help economy in my talking points memo. president obama has not embraced any of them. am i a dunder head or is he? no. i thought you were smart. because you said we need more revenue. now, you had some ideas, flat taxes, each a sales tax which i think is pretty radical. if you think so. bill: one trillion dollars floating around. nobody pays any taxes on it have you got to tap into that. you know what? that also is a very regressive ta
they should have jitters and jitters about in country and the way this country is run. i don t blame them. frankly, if you re a great citizen of this great country, and i say great now, but it has to be somewhat tenuous, because what is happening is going to make it not so great. you have to to be very, very nervous. greta: the thing that seems to be the catalyst for the horrible day with the dow and the stock market is the s&p downgrading the united states. the president blames that on the of political will as well as as insistence on drawing lines in the sand meaning the political divide. david axelrod over the weekend blame it on the tea party. says it is a tea party downgrade. the s&p, as bad as they are and horrible in terms of that credit swap, aaa they gave the credit swaps in the mid 2000, it has an impact. is the president right, is
entitlement program, here we are with a spending program and he comes out and sort of got nothing left except for patent legislation and give recommendations to the congressional committee which is nice. bill: construction guys to rebuild america that s his big deal. carried kicking and screaming into this debt debate in the beginning. he did not want to have a part of it he wanted a clean debt ceiling vote or add 9 trillion so the tea party is leading on this. bill: let s advance the story. juan, i put forth six things that would immediately help economy in my talking points memo. president obama has not embraced any of them. am i a dunder head or is he? no. i thought you were smart. because you said we need more revenue. now, you had some ideas, flat taxes, each a sales tax which i think is pretty radical. if you think so. bill: one trillion dollars floating around. nobody pays any taxes on it have you got to tap into that. you know what? that also is a very regressive ta
guess what i m trying to say is i don t know how many american voters there are that simply don t know anything. that s a very important point. bill: that is. that s who they are appealing to. exactly. bill: appealing to people who don t know anything and will be persuaded that it s the tea party s fault the stock market went down 635 people and maybe it s not the tea party, maybe the jersey shore people did it and they go oh, yeah, maybe that s it. so i guess that s who they are appealing to. serious, this is a crucial, a crucial point you made. there are many, many people who, let s be generous and say aren t sophisticated about politics and the economy. if i weren t so generous i would say they just don t have a clue as to what the hell is going on in this country. but those people have a right to vote, just like you do. bill: that s who they are going for, absolutely. that s who they are going for. and, it may work.
[ female announcer ] only flood insurance covers floods. for a free brochure, call the number on your screen. mark: tonight on our great great american panel. he s former deputy assistant secretary of state and co-host of five, bob beckel is here. might be easier just to announce the guests who aren t co-hosts of the five. sophia nelson isn t. political commentator. national columnist and author of a new book, black woman redefineed. great to have you. white house political director under president job matt schlapp joins us. the tea party downgrade. that s what john kerry calls it. that s what howard dean calls it. they ve got that phrase nailed down. is it going to stick matt? not at all. it is absurd. we raised the debt limit