Thousand is the time fnow is republicans to move past the happy talk about revenues, ill defined, of course, and put specifics on the table. The president has made his proposal. We need a proposal from them. Today president obama is taking his pitch on the road. He will be visiting the philadelphia suburbs employing Campaign Style tactics in hopes of mobilizing the public to his side. Hell be speaking at a manufacturing facility arguing that businesses it depend on middle class consumers over the holiday season. Despite all this, you see the futures today indicating higher. Dow up by about 35. Does that surprise you guys . No, i dont know. I think people still think that eventually they do what they have to do and that is talk to one another. We dont need to be i dont like the campaigning. I dont like going out and selling it. You keep telling your constituents to write their Congress People or whatever. F trying to put pressure on. 250 and above raises 800. You need the cap and all the deductions to go away and youd need going up on marginal it included the extension of the payroll tax cut and the extended unemployment benefits, too. I dont like the way obama started here at all. I mean, there were two ways to start the negotiations. One was did you ever see into guys like haggle over something and one guy says a dollar and the other guy says 1,000. And thats where they seem to have started. He could have started at 500 and then the republicans could have said maybe 100. But he started this thing, he put his foot forward like you know what, im willing to play this to the bitter end. This wasnt a thing that said lets get it done quickly. He sent geithner over. He used geithners Political Capital which i think was a mistake for geithner. Hes leaving. But its like using going back to goldman. Where he started. Where he cut his teeth. Like using a pitcher because you dont care about his arm at the end of the season. So you threw him out there and you send him over with and you also let the republicans characterize the plan. Which from a pr standpoint i dont think was that smart. So i think they blew that one. But ultimately it strikes knee obama did not suggest, you know whark what, i want to get it done quickly. People supposedly knew or that act like they know what the pinl deal will look like is like they gotting withed down at 800 last year. So the president is starting at 1. 6. So theyll end up between a trillion and 1. 2. Anything close a trillion would be seen as boehner prevailing a little bit because he only had to go up 200 billion and anything closer to 1. 2 or would be a win i think the big question is what happens to entitlements, too. What do you put on the table for that. The different websites have different grudge is haha with a picture of mcconnell sitting there. He says he didnt do it in partisan on purpose, but he heard the deal and started laughing out loud. Not to insult geithner, but that were his marching orders. Mcconnell supposedly laughed out loud not on purpose to embarrass geithner, but just because theyre so far apart. What would be the thing that the republicans would have reacted better to when it came to the 400 billion . If they said i dont think obama is going to say what is possible. What were they talking about last year . Werent they talking about a trillion . A trillion last year. Obviously you have to put the changes that happened well down the road because the economys not ready to handle a lot of these changes in terms of cuts and things like that. But the idea that it feels like theyre not going to do anything. You could wand ind up with the situation, let it all ride. We wont deal with any of it right now. Republicans have had a good pint that tax increases are immediate and spending cuts are put off. When is a good time . Theyre talking about another four or five years of were not going to be ready to have any type of austerity because its still this huge debt overhang. What color is that tie . I dont know. Red, i think. Is it a red rutgers tie . Not intentional. I completely forgot about the game. Not having paid attention to the most important sports event of the year. They lost. But they played well. They showed up. I didnt see it, but i was happy they showed up. I have my rise above button back on because i thought i was going to have a rutgers button so which would not have allowed me to but now i had room for this. You got no sleep. Yeah. Were you tipping them on back or not . A couple of drinks. And then when you got home, you had a couple more probably. I did not. I went straight to bed. Theyve done this before. Were all familiar with that with our teams that sometimes get right there and then they seem to they were going to go to a bcs bowl game if they won. Now theyre going to a bowl game, but not a real one. Which they were playing for either the orange or sugar. Youve heard of both, right . This is why state schools are great. I dont have to worry about this stuff. It was a heart break, but they play well. They showed up. They should have beat pittsburgh and then we wouldnt be having this problem. Theyre still 93. Thats a good year. A crappy schedule, but you can now i had to my wife went to sc, so during sc notre dame, i had to sort of root for sc. So once theyre gone, you can be a notre dame lets do that the rest of the rear. I just dont have a dog in the College Football the sec has had way too much success. Alabama and auburn and all those. Florida. The pac10 or the big ten . I dont know what im talking about. Who is the competitor to the sec . There is no there hasnt been a competitor. Whats the one that rut gger just join some had. The big ten. On so trying toitor competitor. And there are good teams out west. Pac10. Oregon is good and ucla and usc. By the way, i have to apologize, i dont know if june is watching. She sat by us at the game. She gave me gloves, im really sorry, i walked out with them. I gave them to ray who said that he sees you all the time. Ray rice . No, a different ray. I hope that he actually does see her because i gave him the gloves. But tweet me and ill pay for the gloves. Sorry. I feel so bad, i pronled id give the gloves back and i walked out with them. I guess we should move on. Probably. Earlier this week we told you about James Gormans memo to employees, encouraged them to make calls and letters to washington demanding a balanced compromise on the fiscal cliff. Todays politicos Morning Money reports the banks employees have sent more than 15,000 letters to congress in the past into days. All 100 senators received letters from morgan employees and 398 of 436 house members received letters. Andrew is not out because of rutgers. I think hes at home crying for me. No. Hes on vacation. The latest Fund Flow Data shows investors did in fact pour money into stock etfs amid the optimism that we had for a while about the fiscal cliff. Stock etfs raked in about 7. 7 billion in new investor cash in the weeks that ended wednesday. Thats the most money since the week that the fed announced its extended stimulus plan. Meantime bond mutual funds and etfs combined attracted 1. 8 billion in cash and thats the most in three weeks and more than double the previous weeks inflows. Two economic reports of note today at 8 30 eastern, personal income and spending polled economists are looking for income to rise by 0. 2 . While spending increases by 0. 8 . Also on the calendar today, but after the show, so never mind no. November chicago pmi will also be out at 9 45. In news out of europe, the German Parliament has overwhelmingly approved the deal to trim greeces debt load. The agreement reached earlier this week passed by a 473 to 100 margin. Seen as a test of Angela Merkels authority over her central right coalition. And well have more from kelly evans in london in just a couple minutes. Weve mentioned the futures are indicated higher despite what looks like no progress between the two sides on the fiscal cliff. Right now the dow futures up by about 41 point. Also if take you a look in europe, modestly looking higher there. France up by about 7 1 2 points. Ftse up by about 11. Dax by 25. In asia overnight, you did see stocks rise. China shares rebounding from near four year lows to break a four day losing strooet streak. Hang seng up by 107. If you take a look at oil prices, you will see that right now wti crude barely bunching up about five cents to 88. 12. The ten year note at this point at least is yielding 1. 618 . Still trading in that very tight range. The dollar this morning has been weaker against the euro and the pound, its up against the yen. The euro at 1. 30. How did that happen . Yesterday was 1. 29 and change. Dont say it. You have to catch yourself. Im on the way. He finds the its the opposite of what every central banker and former central banker who i sat with that the conference in august, the euros got to weaken, the only way out for europe. And its done the opposite. Not just the exact opposite, but the actual opposite. There have been more articles about our former boss and friend. Just two days ago, he was supposed to go and they went crazy with the articles. And now he is going and its a the same thing. Theyre going crazy again. And im really happy for him and im looking at this and you know what, what i like is when they talk about how great did he with managing Cable Properties. Because were one of the Cable Properties that he managed and thats why hes seen to be so successful. Because we can share in that success to some extent. We like competition. I like jeff, too. And we love jeff. So congrats. They have the scuttlebutt. I wonder what will happen with him and this kent guy. Thats all going to be it will get worked out. Are we allowed to mention things like that . I took a chance. Cant ignore it. Its everywhere, right . Steve, youre just not saying a word. Youre worried about something. Youre such a wuss. I find myself to be totally unaware before i know jeff. I know hes going cnn. I dont know who this contents oig guy is. Hes the guy that is between buchus and okay. I still consider myself to be a print reporter and you can see by looking at me. You mean you 23450edneed a w decide how you feel. At least a few hours. It is time right now however for the Global Markets report. Kelly evans is standing by in london. Another former ink stained. What have you been thinking about over the long term here . Ive got a special one coming up for you guys. Some comments from the french industry minister which ill get to in a second. First i want to give you a sense of how markets are reacting to comments from mario draghi talking about the need for rebalancing. Says the ecb cant solve the worlds problems. Stoxx 600 up about a tenth of a percent. So in the last trading session of the month, a pretty decent attitude. You mention what hads happening with the euro. Above 1. 30 briefly. Now slightly below it. But i want to draw your attention to one stock in particular this morning. Sharesing down about 0. 4 . The worlds biggest steel maker. Been trying to close two furnaces in northeast france. France as we know has exerted a lot of political pressure on companies because its worried about the worsening unemployment situation in the country. Especially because this area is one where president hollande really focused when he was campaigning on maintaining the countrys manufacturing base. The industry minister came out earlier this week and said that it was no longer welcome in france after it had broken a series of promises over the years with regard to these plants. So cnbche have i minuindustry minister and ask him about his comments. And he doubled down. Heres what he had to say. Translator Barack Obamas nationalized. The germans are nationalize. And i will countries are nationalizing. Ive also noticed the british nationalized six banks. Its true. I dont see what the problem is. What about the signals youre sending out to investors . Caller its a very good sign to send out. Nationalizing is a very modern step to take especially when you not only nationalize losses, but profits, as well. When you make profit public partnerships. Now, hes known as one of the more left wing officials in france. But i thought the comments were extraordinary. I certainly want to see what your reaction is to them and i want to remind people, too, that when were talking about what happens with europe Going Forward, its not just about the macro data, its as much about the politics and it seems that the politics are getting more shall we say interesting. Back over to you. Kelly, i have to tell you that you need to get on board with what youll be a member of the squawk team as you are Going Forward is just not joe, do you want to rarely do we travel backwards. So its kind of implied that youre talking about the future most of the time. Joe has a lot of pet peeves. Thats one of them. They talk about a company doing Going Forward. We know how they did going backwards. Kelly, i had to learn this one, too. The Going Forward thing. I had to physically take it out. By saying one of the real left thats saying something if youre saying one of the real left wing frenchies. Average is pretty left over there, isnt it . What is a real lefty do over in france . I guess thats the 75 like income tax rate. I just have to say its extra ordinary, we are seeing i would have assumed when i first saw the story developing this week that france would really try and emphasize it was just a case of this one particular company, this history of deals maybe some bad blood there between them and the government. But what weve seen is the industry minister coming out and again mentioning as you say that hes one of the more left wing officials in france, we get that, but still for him to sort of double down on those comments and say, no, actually, i look around, i see other countries nationalizing these companies. Why shouldnt we, too. But i think they really do see certain of their companies as more a property of france than of shareholders. Their yogurt company. But mattel bought frances arsenal back in 2006. So while its a traditionally france company, its very important example of cross border m a. And this is a company again, an India Company owned wouldby guy are french in their behaviors. Stefane has been all over this kind of explaining the various ang angles. So as were talking about other wealthy french leaving the country amid the tax hikes that youve been talking about, its also a lot of the entrepreneurs here who are to some glee getting in the crosshairs of the government. I have to give you some advice. The key for you is to understand what theyre says, be able to report what theyre saying, but resist the temptation to go native so that when you come back here, you will understand this country again. Thats really the problem. Its when you start to she hachsnt been over there that long. That happened to you. Was i referencing tea . Youre doing a great job. Just be careful. He spent a lot of time in lo moscow. I appreciate the concern. He is looking back at what did he, not what youre doing. But youre right, thank you for bringing this stuff up. And politics i think next time ill just sting to the euro and euro stoxx 600. No, this is the same stuff happening here with washington. And it matters. Thank you for make sure we know whats happening. Do you go over to paris yet . No r, its expensive. Hitchhike. Coming up, you conditioned afford to wait until the opening bell rings. If we go over the fiscal cliff, Global Business travel Association Estimates that u. S. Biz travel spending will take a 20 billion hit in the short term. But how about the long term outlook . Find out next. [ male announcer ] you are a business pro. Governor of getting it done. You know how to dance. With a deadline. And you. Rent from national. Because only national lets you choose any car in the aisle. And go. You can even take a fullsize or above, and still pay the midsize price. This is awesome. [ male announcer ] yes, it is, business pro. Yes, it is. Go national. Go like a pro. What are the long term effects for Business Travel if the economy falls off the fiscal cliff . The gbta predicts the reduced deficits and lower Interest Rates will lead to growth in the economy and an increase in Business Travel spending. Welcome back. Now to the weather channel. Reynolds wolf is standing by. What is happening around the country today . The story is all west. Everything is taking place out west. Rain, some strong winds, even some snow. Some places snow getting up to around 2, 3 feet, but that is high elevation. But for the eastern seaboard, pretty quiet p. Temperatures very mild this time of year. When you get into the center of the u. S. , still fairly mild conditions. A bit cooler as you might imagine in spots up like towards the twin cities and even over towards chicago. But then out west, thats where the trouble really brews. Its that time of year that theres norm lay big area of High Pressure that sets up off the west coast. Thats gone and that allows all the pacific moisture to come through. High snow will be an issue. Rain in seattle. So how is it going to affect your travel . A little bit of a trend continuing here. Again, all your issues out towards the west. San francisco, major delays expected. Same deal over in oakland. A lot of your shawl airports will have backups there. Seattle moderate delays. But so far in los angeles and in chicago, even detroit, only minor delays. Overall not a bad weekend with the exception again out to the west coast. Back to you. Glad were on the east coast. All right, wolf. No, reynoldss. Either way i answer to anything. But he wants you to flip it. He likes wolf reynolds. He claim thats his real name. And reynolds is his mothers maiden name. So he says. There you go. Thank you reynolds. In squawk sports news, the Atlanta Falcons . This is not about the starlet knights . 121. They got it going. Beating the saints 2313 last night. Drew brees had his nfl record streak of throwing a touchdown pass in 54 games that came to an end. He was intercepted five times. Atlanta can clinch the nfc south title if tampa bay loses at denver on sunday. And a heart breaker for rutgers. Falling to louisville 2017. Failing in it bid to win the big east. Crazy still still happening. Honestly, i dont know what this means. It means louisville gets to go to a bcs bowl. Beyond that i dont know what it means for ru