Decifit Reduction News Today

Election? >> over time, you will see that a class warfare argument can have a temporary benefit. but i am worried, because this economy is in a very fragile recovery right now. and especially with gas prices now at 4.14 a gallon, for example, in chicagoland, people are not feeling very wealthy. im pretty worried, also, about the federal reserve missing a huge inflation signal thats now hitting this economy, and a big tax increase could also put an engine behind inflation which would hurt this ec...

Rhetoric now because theres a federal balance sheet that hell be judged against, and i think the problem, if hes too obviously and blatantly cynical about this and doesnt have enough details and doesnt genuinely seek a deal and people snip that about him its really going to erode his leadership quality. bill: doug, why does he trail so badly in that poll you pointed out? >> because until yesterday, there was no long term plan to balance the budget, to get the debt and decifit under control. bott...

Workers for every retiree. that means that at some point, its got to break. youve got to end up reforming the system. and we can either wait until 2037, when we hit a crisis, or we can do it now, and phase this in over a 30-year period, which i think most americans would agree on. its not a question of if were going to do decifit reduction. its only a question of when, are we going to do it on our timetable or wait until the financial markets to dictate this. jon: senator mark warner, democrat f...

Only 2 percent of small business owners will be affected by this. so i think its a win-win for the democrats, if we can make it clear as we have to do on fox and other places, its not the bush tax cuts expired, its the ones for healthier americans that expire. jon: ari, make your best case as to why the tax cuts should not be allowed to expire. >> heres the problem with that logic. the cost of the tax cuts for everybody else is $3 trillion over ten years, so i like bobs crocodile tears, but hes ...

Of the tax cuts but thats going to cost new money and its going to dip a -- dig a deeper hole in the decifit so democrats are torn between the decifit reduction, using the top money for -- money for top earners to pay down the decifit and the charge politically that they would be, a, raising taxes and, b, hurting the economy further if they did that. rick: we heard about some of the democrats whom you mentioned who are in favor of extending these tax cuts across the board. the markets loved it y...

Clear it was rejecting the bush-cheney policies, embracing a new approach, and over 18 months later, theres a wholesale rejection going on of the obama agenda and centrist democrats are basically retiring, like chris dodd, byron dorgan, so those democrats who were centered left are taking leave and heading for the hills. jon: you saw president clinton, after two years in office, after, you know, the 94 elections, handed control of congress to the republicans. he moved more to the middle. is this...

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