Detailed text transcripts for TV channel - MSNBC - 20130131:12:29:00
Second terms throughout history. and they basically summed it up this way. in the first year of a second term, they try and do something big on the economy. typically doesn't work. in the second year, they're already in midterms, third year, try to do middle east peace, doesn't work. and fourth year they're pardoning their friends. so we're in year one right now. it doesn't look very promising that we're going to get a deal which means we could be going through the next four years without any serious reduction in the deficit and the debt. so we could be looking at the picture we're at, and we'...