geithner moving heaven and earth to make sure there is a bailout. and our money may be involved. bill: are we making promises? what could we do? we don t know. we do not know what secretary geithner is saying in these meetings. is he dangling american cash as an incentive to get a deal done? we simply do not know that. the administration has said our tax money is not, further tax money is not going to be involved in europe. bill: you just made this point. the money is there to do it. bill: that the u.s. does not want europe to go down. it is an election year in 2012. if that were to happen, with would happen to us? okay. the president has to make the case, is it better for us to bailout europe with our taxpayer dollars, or, to let europe go under? what is in america s national interests? bail them out to stop a depression over there, or not bail them out and save our taxpayer money? a remarkable political
it s the rq170. it flies and it conceals itself in ways that no other aircraft in the world can. kt mcfarland is our national security analyst and she is with me now. good morning. reporter: good morning. bill: how big a deal is this knowing the iranians have it. reporter: two things, we are spraoeug on ira spying on iran for possible action against iran. they have the technology. who will they share it with, what will they do with it, we don t know. bill: were we using this to spy on their nuclear program? reporter: my hunch is we ve always known, bill, that ultimately it would come down between a choice of bombing iran, or letting iran get the bomb. and if we are now preparing to have a war with iran, you know, we ve already started seeing the early stages of this on both sides. the iranians have tried to assassinate diplomats in
steve: we re going to have kelly osborne in the after the show show. she s got a great story about reindeer that she s going to share with our vast audience. gretchen: log on for our after the show show. we ll see you later. bill: let s get started now. good morning, everybody. a problem of massive proportions. europe s debt crisis spiraling out of control. the s&p threatening to cut the credit ratings of 15 countries in the eurozone and that s a downgrade that could potentially threaten the entire u.s. cone my. oh joy, good morning. i m bill hemmer. how are you doing today, martha. martha: is that all? good morning, bill and everybody. i m martha maccallum. our treasury secretary tim geithner is heading overseas fire russly trying to work out some kind of major deal with the european finance ministers. bill: could the bailout money be your money? fox business network stuart varney leading the coverage. what is the answer to that question?
americans could see their taxes go up if they don t get a deal. the democratic plan, if you make $50,000 a year you get $1500 tax cut. if you make $200,000 a year, you get at $6,000 tax cut. republicans will give $1,000 tax cut to those making $50,000 a year and $4,000 tax cut to those making 200,000 or greater. for republicans what happened to the argument cutting spending or paying for the things we are covering in washington today? is that argument getting through? well, i think in the end that is, what will come down to, because when these tax cuts expire on december 31st, obviously you don t want to increase the deficit. so therefore the argument will be, the democrats are still going to go back i think to theiratented tactic they want to raise taxes on millionaires, people earning over a million dollars. that will ultimately be their negotiating position. republicans will have to come back with something else and i think it will be spending cuts.
against her the second she does it. what she said to you today explain as great deal what happened in the ethics process when nancy pelosi was at melissa joan hart of it and prepares to abuse the house process. bill: it will be a good ol good one, isn t it guys? martha: yes it is. bill: bob beckel former campaign manager, host of the five and andrea tanteros co-host of the the five . how are you. who wins this argument? nancy, she stepped in it big-time. her press secretary reached for the tums after she made the comments. newt s right. i worked in the house of representatives for years. she knows better than anybody you can t do this. any staffer knows this. she can t reveal this information and as newt said, it would be an ethics violation. plus, if her investigation was so credible and wasn t such a joke wouldn t they have found something on newt gingrich? wouldn t those 83 charges not have been repudiated? bill: you make a good point. he did pay a fine, 300 grand.