Imnating from washington, the president , and members of his party in congress. The tragedy, at Sandy Hook Elementary School in newtown, connecticut, claimed the lives of 27 people, including 20 children understandably provoking calls for solutions, prevention of such bloodshed ever again. The dire to control the inexplicable and the unpredictable. Are we really prepared to say that were powerless in the case of such carnage . The politics are too hard . Are we prepared to say that such violence visited on our children year after year after year is somehow the price of our freedom . Lou several democratic lawmakers echoing the president s sentimentses within only hours of the shooting pushing for Second Amendment restrictions and tougher gun control laws nationwide. The senates number two democrat says congressional hearings on gun control are on the way. Senator Dianne Feinstein of california determined to get an assaults weapon ban on the floor this week, and schumer of new york sensing a political opportunity outlining to task gun control legislation this time. I think we could be at a Tipping Point for two reasons, a Tipping Point where we might actually get something done. First, this was not a single second, of course, it involved children. Lou enthusiasm for gun control reached a feverish level at msnbc where one of the left wing host called for the outright taking of guns from citizens. Ed schuls telling twitter followers that we are the constitution, and we, as the people, can change whatever we want. Get ready, dude. The most zealous, not alone, 20 members of Congress Calls for new gun control laws while the details of what happened are far from clear. Those legislators, members of the democratii party, ignore the fact that guns were prohitted at or near that school, that all the guns had been legally purchased. Former Homeland Security director, Virginia Tech review panel member, governor tom ridge says Mental Illness has been ignored in all of this. He and i will be taking up those issues here tonight. Speaker boehner, tax hikes for the rich and debt ceiling on the table. The president seems unimpressed, and waiting for more, perhaps, far more. Well find out if wall street legend and american his historis impressed with the negotiations, and the shift in those negotiations and what he expects to come of it all. Pulitzer prize winning journalist, judy miller and Michael Goodwin among the guests here tonight. Jay carney said gun control is only part of the president s plan. He said it requires more than just legislation to prevent more shootings like fridays. Fox news chief white house correspondent, ed henry, with our report. Crowds in connecticut lined up for the first of 26 funerals starting with 6yearold noah h posner, and in washington, they fell back into the ritual of vowing never again. Twenty children who will never grow up to learn to drive or go on the first date. Doesnt just break our hearts, but shatters them. Yet Neither Senate leader called for gun laws, and at the white house, jay carney vague on specifics tied to theecrusade president obama hunted october. Theres common sense measures that he believes should be taken to help address this problem, but he made clear that more needs to be done. Reporter far more he has at that particular time that the president at that dramatic prayer service. Ill use whatever power this office holds to engage my fellow citizens from Law Enforcement to Mental Health professionals to parents and educators in an effort aimed at preventing more tragedies like this. Because what choice do we have . Reporter today, new york city mayor, michael bloomberg, mocked the idea the fiscal cliff could distract from the ability to come together on gun control. If congress and the president cant focus on two things on once, who on earth did we elect . Reporter in 20 11, the president made vows in tucson and wrote an oped noting it was time to finally stop gun violence adding, quote, like the majority of americans, i believe that the Second Amendment guarantees an individual right to bear arms, and, in fact, my administration has not curtailed the rights of gun owners, but expanded them. Carney was pressed to name one action the president has taken since then. I refer you to the Justice Department for specifics, but we have taken steps specifically on background checks to make the system thorough and complete. Reporter what might be difference after this tragedy is the children involved, making it more difficult for the National Rifle association to stop action. Today, two central democrats with ratings by the nra said for the first time they are open to new gun laws. Warner tweeted this was a game changer, and mansion seemed to agree. This changed the dialogue, and it should move beyond dialogue. We need action. Reporter an area of possible agreement is senator Diane Feinstein reintroducing a ban on assault weapons, one specific carney says the president supports. The president and Vice President met with cabinet secretaries this afternoon to begin the work of figuring out what specific legislation they may come up with to deal with the aftermath of this tragedy. Lou . Lou thank you, ed henry, fox news chief white house correspondent. First guest tonight says gun laws are a critical part of the national discussion, but the country also needs, he says, to respond to the Mental Health issues when it comes to Mass Shootings as well as the corrosive influence of the Digital World and a culture of violation. Joining us, former Homeland Security secretary, form earn governor of pennsylvania, tom ridge, who also served on the review panel to study the Virginia Tech shooting which claimed lives of 32 people. Governor, glad to have you with us. Lets start with, first, the call for legislation here, senator Diane Feinstein is putting forward something that looks, im sure, very familiar to you, and that is the assault weapons ban which you supported when you were in congress back in 1994. What are your thoughts . Well, i think its certainly understandable, lou, predictable, actually, that the first focus is on the instruments of the tragedy, the instruments of war, and those are the firearms and the guns, but i think, and i hear with all the language, were at a Tipping Point, this a game changer, and i heard the same language after columbine, Virginia Tech, and same language after the aurora shootings, and were hearing it again. Unless we take a far more comprehensive look at the root causes of some of this violence, a single piece of legislation will do little, may do some, some impact on reducing the risk of further tragedies such as this, but i think the effect will be limited. We have to talk about other rights and other challenges, the rights of privacy, Mental Health records, Mental Health treatment, and i think, in spite of the disagreement that i have with some people, that the corrosive impact of violence, with Mental Health challenges, i think it has an impact on their view of life and as people without those challenges would look differently. Lou we are seeing, actually, some surprising pronouncements from across the political spectrum,. Senator joe mansion, whom you know, coming out to talk about banning assault weapons again. Actor jamie foxx from the left, some argue the far left, actually talking about the need to constrain violence in hollywood in media. Were starting to see, at least here now more than 72 hours after the tragedy in connecticut, were starting to see some sensibility present itself in terms of dealing straightforwardly and honestly with this issue. Long overdue and should be welcomed by everybody in the conversation. If you take a look at the some of the more significant high profile incidents, lou, and the horror associated with the murders and massive killings, and you go back and look at the perpetrators, and you take a look at their selfexpressions of either suicidal tendencies or told others of their intent to kill, these were planned activities in many instances, selfdestructive behavior. Many had certainly in the case in Virginia Tech, a clear pattern of Mental Health illness. As a matter of fact, it was a deteriorating fact of Mental Illness. Until we wrestle around the notion of stigmatizing Mental Health, figure out a way those being treated for Mental Health problems dont have access to firearms, and until we wrestle with the complicated problems of privacy, particularly with regard to medical conditions, i know they are focusing on guns and gun regulations, but unless we look holistically, unfortunately, the pattern will repeat itself. Lou and the characteristics, you were talking about, the Virginia Tech shootings also, are an analog for the gunman in tucson, and appear, at least some of those characteristics, to appear in this tragedy in newtown, connecticut. In so little discussion from one event to the next to try to understand the psychology, the context, and the Public Policy canvas thats relevant. We are looking at whats been over the course of the last 250 years, and extraordinary series of Public Policy decisions when it comes to Mental Health, as you well know in the country. Many of them a travesty and for which we are paying very, very high price indeed. Sadly, lou, again, shows like yours and others that have a way to fashion the discussion really needs to be a rational thoughtful discussion about measures we can take and predictably and understandably, guns will be a focus, but the complexity of the issue is far more thank dealing with instruments of terror. Think of all the parties and celebrations around this holiday season, and can you imagine a conversation when they ask how is your son doing . Well, pretty well, but Mental Health problems, under treatment and therapy. We stigmatized Mental Health, but we dont do that with alcoholism or drug abuse. Its a problem, we have to get our arms around it, and those with Mental Health problems should not hhve access to firearms. Theres other changes that i think would be legitimately considered. Columbine, lieu, there lou, there was a straw buyer or two, bought the weapon and gave it to someone else. You knew he was under a special justice for the virginia court, a danger to himself in the community, and, yet, he was able to buy a firearm. The complexity called for discussion, and not just focusing on a piece of legislation. Lou governor tom ridge, thanks for being with us. Hope youre a part of the conversation right here. Thank you, lou, thank you very much. Lieu lou much more on calls for gun control and ineffectiveness in curtailing violence. Well be talking about that and well be introducing something thats often alien to those discussions. Well be introducing some facts. First a trip to asia. Now she has a concussion that will keep secretary of state clinton from testifying on benghazi. Is there a risk now of amnesia . We only ask because we care. Taxes in spending on the table, House Speaker boehner offering the president higher taxes on people making more than a million and asked for a trillion in spending cuts. Lou lerman is next. 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Lou president obama has rejected yet another fiscal cliff offer from Speaker Boehner as the two appear to be moving closer to one another, believe it or not. The market rising despite all of the uncertainty, just the suggestion of possibility of market thrills today, and lou lerman joining us in a moment to give us insights and sparking enthusiasm, and not even a tax on conservatives, and no word from the white house can stop the bulls from running off, at least a bit for the day, the dow posting its best gape this month, up 100 points, and s p up almost 17. The nasdaq gaining almost 39, just over 39 points. All indexes back up above their 200 moving day averages for those of you who care, and 3. 4 billion shares traded on the big forward, and board, and we all care about that. Three movers on the dow, two top performers of the year, bank of america up another 4 today, racking up a gain on the yeartodate of 87 . The big winner on the today, however, number one dow performer this year, and hewlittpack card losing two and a third today, and Deutsche Bank with an outright sell on the stock, ouch. Home depot up 60 on the year, making it the second best performing dow stock. Gasoline prices lowest price of the year, average price, 3. 25, a cent higher than a year ago this time. Crude oil closing above 87 a barrel, and year on the tenyear note creeping hirer at 1. 67 . In the last four years, amount of debt in foreign hands risen by a not so modest 78 to a record 5. 5 trillion of foreign holders, china number one followed by japan, bril disa, brazil, a assistant third. The cliff negotiations, Speaker Boehners offer of a tax rate hike for those making more than a million a year, and Speaker Boehner reportedly also willing to postpone the debt ceiling issues for at least a year, unclear how. White house aides cite it as progress. Joining us lou lehr man, american historian, and great american. Great to be here always, lou. Lou this is wonderful to watch. The equity market responds at just the suggestion that the two men are actually talking, if talking by one another. What are your thoughts . Well, the fear and trem ling trembling thats spread all over the country and the world about american falling off the cliff, and thus a recession in the united states, the biggest economy in the world, can cause a temporary spurt in activity; however, it shouldnt be forcen freeding this was the Federal Reserves qe4 announcement, a trillion dollars in a single year, recreation of new money, money makes it go. Lou you are suggesting that a lousy extra 45 billion a month from the fed in the market willt a whisper between boehner and the president . The oh, i fear i am saying that, lou. Look, i mean, the amount of money, which is being created by the Federal Reserve system and foreign Central Banks to finance the u. S. Trash treasury makes it a situation where americans cannot appreciate the fiscal cliff sit. The deficit goes on as if there were no deficits because the banks are printing money to finance it. Lou with the projection that were looking at a Federal ReserveBalance Sheet that will expand by a trail dollars over the course of the trillion dollars over the course of the next 12 months. Thats significant funding into the monetary system. What do you think . Is it a fore gone conclusion well see finally, and im not encouraging, but saying, finally, the true inflation . My own forecast for what its worth is that the inflation will not really pick up until the Unemployment Rate falls much closer to 6 . The wages are so much under control that its made, actually, the working people of america much more competitive with their competitive nations abroad which, i think, will be one of the surprises next year that we may do better next year, even under fiscal cliff arrangements. Lou can we do better if the working man and woman in the country is not doing better . Its not a matter of polemics or ideology, but we watched the working man and woman in the country, their wages, effectively stagnant over the course of the last three decades. We have watched the share of National Income that goes to corporations rise to the highest level since the great depression. We have something amiss here. Its in fiscal policy, monetary policy, and we dont seem to have anybody talking about how to correct it. Well, i certainly agree with you that without working people, middle income families having a rising standard of living, we are not going to see the kind of prosperity that america witnessed since the birth of the republic up until just about a decade and a half ago. The real issue is that workers get wage increased, and lulled into the leaf they are getting wage increase, and the problem is the price level for them, the cost of living, basics, is ri