the next 30 days, you re going to see tax rates rise on all americans. you re going to see huge cuts in the defense budget. we re probably going to have a double dip recession, and until the congress then gets its act together to fix it and lower rates on the middle class, you will have the republicans essentially responsible for raising tax rates on the middle class. i can t imagine, again, bill krystal said this yesterday. i can t imagine why the republicans would want to be known as raising tacks xes on t middle class. thank you both. next, the president reacts to speaker boehner. stay with us. this is sheldon, whose long dy setting up the news starts with arthritis pain and a choice. take tylenol or take aleve, the #1 recommended pain reliever by orthopedic doctors. just two aleve can keep pain away all day. back to the news.
george w. bush moment. if they don t he possibl positss won t deal with the economy seriously type lawmakers. right. so the question is is the president serious about avoiding the fiscal cliff. we know pain in this country is bad on the economy. it would only broad and deep fn we hit a double dip recession. is the president serious about avoiding that cliff and if not, why not. i think some people are wondering megyn: do you think it is a matter of principle for the president? chris fire walt cam chris stt with a piece to say it s an ideological commitment on the part of the president to make the rich pay more and to give
congresswoman in her first interview since being elected. contrary to what you have been told there are women in powerful positions in congress. we reached out to her counterpart on the democratic side but we have yet to hear back. congresswoman, what now? what do you think is the status of this deal right now? guest: well, the president s proposal yesterday was quite disappointing. the republicans are committed to a solution. we committed to avoiding the fiscal cliff. itould be economically devastated on america. we have heard the numbers, 700,000 jobs lost estimated and a double dip recession. we don t want that for america. anyone wants that for america. it started by us putting people ahead of politics. i believe that republicans and democrats, we can work this out, we need to come to the table, start the new york times es, start the negotiations, we put tax revenue on the table as well
let s face it, jenna, we ve got a very anemic economy. going back to last year when there were great fears about a double dip recession, we sort of cheered when it didn t happen, but we also have to realize we ve been live anything a world where 2% growth has been great, obviously, we know that s not the kind of growth you re going to come in literally billions of dollars and hire people under the assumption that maybe things will simply get better. so we ve seen this coming for a very long time, announced layoffs have actually begun to increase, capital spending, everyone s sort of holding back. and mostly it looks like companies are spending their money or using their cash they have on buybacks and raising dividends. but too intimidated by the rhetoric, the new rules and regulations and, of course, some of the other factors from the administration last year and the year before, not to mention, of course, the fiscal cliff looming. jenna: so, peter, is that in and of itself regardl
past weekend in the senate, mitch mcconnell, he says we ll give anything, but one thing we re not going to do is raise these tax rates because they generally believe, and i think they re right about this, raising those tax rates could cause a double dip recession. paul: what s the alternative. if the president insists on raising tax rates and the republicans say no. all the president has to do is let the taxes go up on january 1st, he gets the tax increase anyway and beat the heck out of the republicans, for blaming whatever economic consequences happen and then in two months, they re coming back to him and saying, okay, we give in. but he s already got the tax rate. so my question to you, steve, is what s the way out here? is there a way out that if you see it for the republicans? well, the republicans and we showed in our editorial this week, the numbers do add up. the republicans should basically say, look, we will close the loopholes. if do you that the people that get hit the