finished its worst week since last up a. what will it take to ease investors nerves. joining me, neil cavuto, anchor of your world. you have been on the hill and talking to a great many people there, congressmen and senators and so forth. what is your take on this potential deal? neil: well, i think there are two different audiences here. leaving aside the one that cobbles together democrats and republicans that com come toger on something approaching what we heard of these $3 trillion in savings over the next ten years. you do have another audience to win over and that is the investment rating agencies, the credit rating agencies like moody s and s&p and fitch. these agencies have already gone on record saying we need $4 trillion in cuts and that is a floor and this looks like for
even when disagrees with other people and i respect that. and from time to time all of us go through that and what i m saying is we need a permanent solution to a permanent problem. look, the art of compromise is indemmic in washington, d.c. and it is the only way that anything can ever get done and you would appear to have gotten three quarters of what your party was demanding. the president initially wanted a debt ceiling increase with no cuts whatsoever. you won on that. shouldn t you consider that as part of the equation in voting yes for this teen ittive deal? well, no, because as you heard neil cavuto say just a few minutes ago, most of the cuts that are now being discussed are cuts that will be made over a 10 or 15 year period. most of the actual cutting will take place while a future congress is in power. we will have another congress sworn in in january of 2013 and
spending cuts. if they are more outer term year cuts the markets might scratch their head as are many here, many republicans in particular and saying wait a minute, we agreed to something where the onerous cuts are coming in the future years, obligating future presidents and congress to do what this president and this congress might not do up front. they might step back and say this isn t a deal. we live in a town and an environment, i don t know about you, greg, i don t know what i m going have for breakfast tomorrow morning. it is one thing to start laying out plans nor what you are going to do ten years from now. therein lies the risk in any ten year deal. great on paper might make sense in paper. might not sell in reality. neil cavuto on in less than four hours on your world. a special edition of your world, 4:00.
battered and bruised wall street will begin trading. the dow closing down for six straight days on friday. finished its worst week since last up a. what will it take to ease investors nerves. joining me, neil cavuto, anchor of your world. you have been on the hill and talking to a great many people there, congressmen and senators and so forth. what is your take on this potential deal? neil: well, i think there are two different audiences here. leaving aside the one that cobbles together democrats and republicans that com come toger on something approaching what we heard of these $3 trillion in savings over the next ten years. you do have another audience to win over and that is the investment rating agencies, the credit rating agencies like moody s and s&p and fitch. these agencies have already
washington.org not what they say. that is good for everyone, thank you. thank you very much. thank you. we are waiting word right debtn an agreement on a debt teal. deal. party leaders saying they are close. we will hear in a democratic and republican lawmakers on what could make or break the deal. just a programming note. tune in for a special edition of your world with neil cavuto at 4:00 p.m. eastern time live from capitol hill only on the fox news channel. and tonight at 9:00 p.m. eastern on the fox business network. i have copd. if you have it, you know how hard it can be to breathe and what that fes like copd includes chronic bronchitis and emphysema. spiriva helps control my copd symptoms. .by keepinmy airways open. .a full 24 hours. plus, it reduces copd flare-ups. spiriva is the only once-daily inhaled