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Casey. bob casey is the chairman of the joint economic committee. this is his bill, the payroll tax holiday extension is bob casey's legislation. i have talked to each of them. they're going to work expeditiously to come up with a long-term arrangement on the payroll tax, on unemployment of course and on the doc fix. i have great confidence in them. i also want to say that most everything we do around here is based on trust. that is how we get things done. i want everyone to understand how much i appreciate mitch mcconnell sticking by the arrangement, the agreement we made. i have told him tha...

For decades. now we're coming in and saying listen, if we're going to do it, let's use sound policy and do it right. and that didn't happen. we are frustrated we didn't do it for a year and two years for the doc fix because everyone we spoke to, democrats and republicans alike said we need something certain, some certainty in the market, do it long term. we wanted to bring forth good policy. so yeah, they're frustrated. it isn't a tea party issue. it is played up for the media, but not a tea party issue. >> how is it not a tea party issue? people from the right release these statements, how is...

Four minutes, around four bucks. campbell's chunky. it's amazing what soup can do. helps defends against occasional constipation, diarrhea, gas and bloating. with three strains of good bacteria to help balance your colon. you had me at "probiotic." [ female announcer ] phillips' colon health. and there's some new pictures coming in to us here at msnbc. president obama signing the extension of the payroll tax cut deal. it will last for two months. and within that it will also extent unemployment benefits for the millions of americans who depend on those. also continues the medicare doc fix so...

What they're fighting for and what the republicans are trying to do. >> j.p., republican shaking in their boots after this? >> no. and i actually think that this is a pretty interesting discussion. we just heard from the president who talked about how this wasn't really a political thing, this certainly should have been a form formality. now taking agent whether this was humbling for the republicans, we're talking about how flpt independents are now totally regretting their vote for tea party candidates. this is, in fact, political, which shouldn't be a surprise to no one. that's fine. there a...

Markets or for employers or for the doctors and patients that wanted two years for the doc fix. this has been going on the last six times they did a short term extension for doctors, doctors are saying it is terrible policy for the united states. we try to do good policy. we got beat up for it. no good deed in washington goes unpunished. >> what happens now. this is as you pointed out tuesday you didn't want it to be a bandaid, this is referred to as a bandaid. what happens when two months expires? >> here is the only light at the end of the tunnel. they're going to start negotiating now inste...