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Transcripts for CNN New Day Sunday 20131006 11:51:30 archive.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from archive.org Daily Mail and Mail on Sunday newspapers.
Fail would have had even more cascading effects for main street. that said, as hard as it may be understand something like a derivative, what s not hard to understand is executive compensation, what the big guys make. when i look at the economy five years lake, in 2007, before the crash, it was $8.4 million on average, and in 2008, start to come down to $7.6 million. but today, on average, executive pay compensation is $9.7 million. so if i m at home watching, i understand five years ago, they failed, and they re making much more and at the same time my income is stagnant. that s what s been going on with monetary policy. if you look at ben bernanke keeping interest rates really low, who has that benefited? people who own stocks, property owners, and people who own the big banks. because they can make a lot of money investing those assets in other ways. that s one of the reasons why these big banks have a huge ....
Fun on your own. i think the effect is there but the republicans have got on the the president s left on medicare for people who are 55 and over. even the medicare advantage cuts. let me just say the amount of beneficiaries is an open empirical question. they re targeted at providers. there will be cascading effects. the medicare advantage cuts, what it means is very often they re more generous than traditional medicare. i think it s bad way of spending the government s money but it s true there are a constituent of seniors who will lose that benefit. so i think republicans have defended that. they voted repeatedly to restore the medicare cut sois they really have taken on the clear ....
React and republicans revolt to changes to the tax code they view as a tax increase, plus the big cuts in defense budget, i think the whole thing could blow up very quickly. the implications could be climbtist. what no one truly tested, it s impossible to test because you don t know if it s going to happen until it happens. if we wake up one morning and newspapers saying u.s. government. deal blows up. congressional members revolt. u.s. and the default. that could have cascading effects. that is the biggest risk with doing all these negotiations behind closed doors. howard dean? i have to disagree with that. that headline is unlikely. the political consequences for the republicans are a disaster. ....
The implications could be calamitous. no one has truly tested and it s impossible to test because you don t know if it s going to happen until it happens is if we wake up one mormg and headlines in hundreds of newspapers across the world saying, u.s. government deal blows up, members of congress from both parties revolt, u.s. defaults. that could have cascading effects and that i think is the biggest risk with doing all of these negotiations behind closed doors with virtually no transparency. howard dean? i ve got to disagree with that. first of all, i think that headline is incredibly unlikely. everybody knows what the stakes are. the backup position is we re going to just pass a bill that s going to last us six months and so forth. these trucks are not going to fail. the debt ceiling is going to be raised one way or another. now, here s the optimistic piece of this. i think there is an agreement here and we talked about it it ....