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All stripes, rich and poor alike, we don't mean what we say. whatever our discipline is for the moment is just that, for the moment and it depends on our cause. >> i can answer your question right here. if we were going to deficit finance something we need to make sure it is the most effective means at boosting the economy. we need to be very clear if we are going to be deficit financing something we get the most bang for our buck. we need to be listening to people like mark zandy who says extending unemployment insurance is five times the bang for the buck than tkpepbgd the bush tax cuts. it ...

Been concentrate in the export surplus countries like china so that america now has to borrow from other countries one half of all of the deficit financing. it's the reason i opposed president bush's tax cuts. i never had any money until i got out of the white house, you know, i've done reasonably well since then. i thought it was outrageous to be fighting two wars and giving me five tax cuts. it was the dumbest thing i ever heard. and borrowing from china to do that. we couldn't enforce the trade agreements, that dropped by 80% giving rise to legitimate objections to expanded trade by the lab...

Companies, banks that is moving from -- that has been written off the books. the fed is really -- the treasury has taken on additional debt in the form of the deficit financing and the stimulus. ultimately, we have to pay the price for that i believe that will be an issue. we have significant fiscal issues in terms of for this it is going to be a drag on the economy. but it is several years out. it is more of a story to think about in 2012, 2013 -- >> your saying the problems may be deeper by 2012, 2013? >> they will be out there. it is going to be a drag on the economy -- think about the mone...

Would be unconscoinable to leave town without a one year fix. he turned on us. he's lost a lot of credibility in my eyes . he's a poor leader. >> congressman, if it took this long to get a extension. what makes members of the house believe they will get a deal by the end of january and at a time when so many people are upset with congress at this time for not getting the job done? >> well, we certainly have heavy lifting ahead of us. the reason it will get done, is that the public doesn't want a tax increase and frankly can't afford it you say it is how we are going to pay for this. we don't w...

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