wispers of the r word the recession happening. we ve been hearing about this for the last 18 months. with this inverted yield curve sure it might be an indication this is around the corner, but you know, pretty for the most part the markets have been sort of bullet proof, and i don t know if this is necessarily an indication of recession happening in the near future. i mean, markets ebb and flow. we re going to see a recession at some point. neil: we haven t out lawed that and very high odds we ll have a recession the next couple of years. that s what s going to happen. will it happen tomorrow? probably not. neil: or maybe the day after tomorrow. so kevin we were talking during the break about some people say you ve got to be aware of how long we re in this inverted phase or whatever. what s the truth? yeah, the truth is we actually don t know what the in version of the yield curve means now post 2009 if you think about how the federal reserve has come out and done quantitative eas
let s go out front. i m erin burnett. breaking news, federal failure. gridlock reigns in washington once again. the payroll tax cut proposal passes the republican house. so why do we say failure? well, the republican bill included a controversial oil pipeline that the president has said he would veto. so pass, smash. we re at square one with congress playing chicken with the clock. there are just 18 days left until the tax cut expires. if it does, the average american will pay about a thousand dollars more in taxes next year. now, this may not be economic armageddon. but because the tax cut is popular for everyone, both parties want to pass it. so why are they failing? the bottom line, in one afternoon we found a way to compromise and get this done with the help of robert and williams at the nonpartisan tax policy center. here goes, what we call a decent proposal. if you extended the payroll tax cut for only people making under $75,000 a year, the price tag would be about $
i m erin burnett. outfront, breaking news, federal failure. gridlock reigns in washington once again. now the payroll tax cut proposal passes the republican house. so why do we say failure? well, the republican bill, included a controversial oil pipeline that the president has said he would veto. so, pass, smash. we re at square one. congress again playing chicken with the clock. there are just 18 days left until the tax cut expires. if it does, the average american will pay about a thousand dollars more in taxes next year. now, this may not be economic armageddon. but because the tax cut is popular for everyone, both parties want to pass it. so why are they failing? the bottom line, in one afternoon we found a way to compromise and get this done with the help of robert and williams at the nonpartisan tax policy center. here goes, what we call a decent proposal. if you extended the payroll tax cut for only people making under $75,000 a year, the price tag would be about $48
i m erin burnett. outfront, breaking news, federal failure. gridlock reigns in washington once again. now the payroll tax cut proposal passes the republican house. so why do we say failure? well, the republican bill, included a controversial oil pipeline that the president has said he would veto. so, pass, smash. we re at square one. congress again playing chicken with the clock. there are just 18 days left until the tax cut expires. if it does, the average american will pay about a thousand dollars more in taxes next year. now, this may not be economic armageddon. but because the tax cut is popular for everyone, both parties want to pass it. so why are they failing? the bottom line, in one afternoon we found a way to compromise and get this done with the help of robert and williams at the nonpartisan tax policy center. here goes, what we call a decent proposal. if you extended the payroll tax cut for only people making under $75,000 a year, the price tag would be about $48
we re not going to bail out banks any more in this country. the quantitative easing programs have been proven not to work. they ve proven not to work. we ve blown through trillions and trillions of dollars with nothing to show on the balance sheet. but additional debt. no uplift in the well-being of our people. no improvements in joblessness. i say, you know, the stimulus that i thought was going to work and that we talked about initially, was that directed toward more in the way of business tax cuts. that s the way it was talked about initially, at least a significant part of it. and i think that would have been a good step. but beyond that, we ve wasted a whole lot of money in this country. the will of the people is such that we won t do that again. if you were the deciding vote you would have voted against t.a.r.p. if you were the deciding vote, you would have voted against it with the heads of treasury and major banks say we could be risk the entire economy. you can t go back