doing with a wink and a nod i m under duress. don t pay any attention to what i m saying. laura: like a hostage tape. with us now, fox news contributor lany davis, a former special counsel to president clinton. first of all, i m so glad you re here on a day like today because it s, you know, your old boss is it s in the news again. he raises a lot of money and he s so popular. and he says what i think a lot of democrats on wall street also believe is that these tax cuts should be extended. that, you know, we cannot throw any more monkey wrenches into this economy, especially when we have taxmageddon happen at the end of the year and the fiscal cliff as they describe it in the treasury department so what happened with this clinton reversal? first, let s put it something on the table. the debate that s going on right now including people like myself, cory booker, ed rendell, harold ford, with the obama campaign are about tactics. they re not about policies. so president clinton sup
your financial security depends on your job and americans are looking to washington for answers. welcome to your $$$$$. president obama saying this week that he ll announce a new jobs initiative in september. john king is cnn s chief national correspondent. americans need help now. the president apparently is going to offer something next month. what s the delay? next month because the president says he wants to talk to his economic advisers. they re reaching out to ceos. the white house says this will not be a repackaging of things the president has put on the table. ali, you know those well. extending the payroll tax cut, which the administration says will not only put money in pockets, but hope to create jobs, extending unemployment insurance for people out there frustrated and can t find a job. there would be new proposals. the question is, what will they be. here s one question. we know some will involve spending. government spending. house republican leadership have
that he ll announce a new jobs initiative in september. john king is cnn s chief national correspondent. americans need help now. the president apparently is going to offer something next month. next month because the president says he wants to talk to his economic advisers. they re reaching out to ceos. the white house says this will not be a repackaging of things the president has put on the table. extending the payroll tax cut, which the administration says hope to create jobs, extending unemployment insurance for people out there frustrated and can t find a job. the question is, what will they be. we know some will involve spending. government spending. house republican leadership have said that s stimulus. the administration says it will off set that spending with cuts elsewhere, so the president believes he will have the high ground politically. the question is, even when the president has a new package after labor day, can he get it through a republican house? he s
of the turmoil on wall street has been triggered by fears over the european debt crisis and the anemic economies. and richard quest, one of the best people to turn to when we want perspective on the global economy. he joins us from london. what happened in the european markets today? reporter: the europeans went down initially and then down further and they rallied with wall street. we closed down 1% in london, and paris 1%, and frankfurt, once again the german market is being creamed by what is happening at the moment, by far and away being breutally attacked. and the german industry has made much from the exports and those promised to be hit by the u.s. slowdown and elsewhere in the world. putting it altogether for you, and as we look at the weekend, i cannot agree more with alison, and basically what we are seeing this afternoon is market exhaustion. people have literally just have been gasping there way. there will betrayeding because of triple witching. but by and larg
concerned with small businesses as senator johnson is, is going to add to the overall price tag of this, cutting right to the heart of what the gop philosophy has been about budgeting for a long time. corker, who is on the way out, who has talked about the biggest concern for them is the deficit. will they leave that at the doorway and say i ll join the party on this bill or tho, i m going to hold the line? for various members this is a question for them examining what their own priorities are and that list includes many people who are not beholden. individual mandate. a lot of things here who are monkey wrenches. when you have somebody like ron johnson that may provide cover for others. chris cillizza, ron johnson has been the most out there in terms of his issues but also the easiest to fix. cbo is come iing under attack b