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Is nine more months to go. now, of that $195 billion, $150 billion comes from the middle class. $45 billion comes from those folks in the top 2% who obama wants to raise their taxes anyway. the next item, as you may remember, is a 2% payroll tax credit that people got as part of an anti-recession measure a couple years ago. that also expires, $116 billion coming out of consumers' pockets. you have the alternative minimum tax which is this complex tax calculation that is hitting more and more of the middle class and each couple years congress has to do a patch to make it work. and then finally,...

I think every voter out there understood that that was an important debate, and the majority of voters agreed with me. by the way, more voters agreed with me on this issue than voted for me. so we've got a clear majority of the american people who recognize if we're going to be serious about deficit reduction, we've got to do it in a balanced way. >> the president speaking yesterday at the white house. welcome back to "morning joe." 6:48 in the morning as the sun comes up there in washington. steve is back with us now with his charts to explain that fiscal cliff and what might happen if we act...

good morning to you. it is tuesday, december the 20th. i'm ali velshi joined again by alina cho this morning. good morning. >> good morning to you. so glad you're with us and up first, the u.s. keeping an eye out for advancing troops and any other threatening moves after the death of a dictator in north korea. north korean media show the images of kim jong-il's body laid out in a glass coffin. his third son and successor, kim jong un, paying respects. and live for us in seoul, south korea, anna, good morning. the south korean government sending its condolences along with a dose of wh...

>> communities were hit by tropical storm and declared a state of national calamity. entire villages were washed away. at least 900 were killed and hundreds more missing. the iraqi government issued an arrest warrant for the vice president there. some of his bodyguards confessed to carrying out bombing attacks under his orders. those other top stories on cnn. "world business today" starts right now. hello. welcome to "world business today." i'm charles hodson in london. >> and i'm pauline chu in hong kong. the top stories. a time of transition as people pay respects in north kore...

Economy and financial market would have melted down. of course, we'll never know. the same on the stimulus. we'll never know. >> greta: is there any legitimate economic model for prediction so we can tell? we keep getting told it could be a lot worse. are there any legitimate ways to measure that or is that simply political argument? >> there is no way to know the path that didn't happen. we did not know and will never know what the last two years would have looked like without the stimulus that's the problem in tracking it. >> greta: there was 814 billion was the stimulus. according to the nu...