Decifit Reduction News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Election? >> over time, you will see that a class warfare argument can have a temporary benefit. but i am worried, because this economy is in a very fragile recovery right now. and especially with gas prices now at 4.14 a gallon, for example, in chicagoland, people are not feeling very wealthy. i'm pretty worried, also, about the federal reserve missing a huge inflation signal that's now hitting this economy, and a big tax increase could also put an engine behind inflation which would hurt this economic recovery. i think in the long run, we should look at the gang of six, three republicans, th...

Rhetoric now because there's a federal balance sheet that he'll be judged against, and i think the problem, if he's too obviously and blatantly cynical about this and doesn't have enough details and doesn't genuinely seek a deal and people snip that about him it's really going to erode his leadership quality. bill: doug, why does he trail so badly in that poll you pointed out? >> because until yesterday, there was no long term plan to balance the budget, to get the debt and decifit under control. bottom line, the president, to get back the independents who are 38 percent of the electorate, lar...

Workers for every retiree. that means that at some point, it's got to break. you've got to end up reforming the system. and we can either wait until 2037, when we hit a crisis, or we can do it now, and phase this in over a 30-year period, which i think most americans would agree on. it's not a question of if we're going to do decifit reduction. it's only a question of when, are we going to do it on our timetable or wait until the financial markets to dictate this. jon: senator mark warner, democrat from virginia, joining with saxby chambliss who introduced that legislation he was just telling ...

Only 2 percent of small business owners will be affected by this. so i think it's a win-win for the democrats, if we can make it clear as we have to do on fox and other places, it's not the bush tax cuts expired, it's the ones for healthier americans that expire. jon: ari, make your best case as to why the tax cuts should not be allowed to expire. >> here's the problem with that logic. the cost of the tax cuts for everybody else is $3 trillion over ten years, so i like bob's crocodile tears, but he's fighting for the decifit reduction, but he's really not, because it's an inconsistent argument...

Of the tax cuts but that's going to cost new money and it's going to dip a -- dig a deeper hole in the decifit so democrats are torn between the decifit reduction, using the top money for -- money for top earners to pay down the decifit and the charge politically that they would be, a, raising taxes and, b, hurting the economy further if they did that. rick: we heard about some of the democrats whom you mentioned who are in favor of extending these tax cuts across the board. the markets loved it yesterday. we saw some real nice up arrows yesterday as a result of that. how loud are these voices...