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To close loopholes and lower tax rates. that's far better for the economy and the american people favor that approach by two to one. they favor it more when we can also show them that real spending cuts will, in fact, reduce the deficit. now there have been many conversations over the last couple of years that could inform a solution. i hope the president will draw from those discussions and work with both parties to find common ground. solving the fiscal cliff in a manner that addresses the true drivers of our debt and saves american jobs will be a great way for the president to start his sec...

Economy, the rock our economy, has always been small businesses in the private sector. i ran one of those small businesses and i can tell you that raising a small business tax means they don't grow. a small business does not grow, our economy doesn't grow. if our economy doesn't grow, we don't have a prayer of digging our country out of the hole that we with call our national debt. this is why going over part of the fiscal cliff and raising taxes on job creators is no solution at all. instead of building our house on sand, let's build it on rock. instead of raising small business taxes, let's ...

Budget office with that ryan budget last year, it was the congressional budget office said it would cut 6 trillion dollars that's because they're required to start with a baseline assumption of bigger and bigger government everyyear and if it doesn't grow as fast as the baseline, it becomes a cut and revenue side, joint committee on taxation, if you double tax rates they assume you're going to double tax revenues even though in the real world people aren't going to safe as much, tax avoidance, tax evasion, ap taxable income, but they operate with these blinders on and assume nobody changes the...

>> good to be here. all right. for all the talk about tax cuts and rebuilding bridges it's what's happening overseas and to a certain extent it's out of our hands that may seal the fate of the u.s. economy. so without significant steps from the eu, the greek debt crisis that we were just talking about earlier threatens to spill out in every direction. and ready for what this means? angela merkel could hold the keys to president obama's political future. our guest is the president of river tries research and contributor to "the daily beast." let's go through wallace goihat on in berlin. are t...

To make the government smaller to layoff employees eventually, to cut salaries, to cut pensions, because they've completely run out of money, yet their economy doesn't grow. so the situation there is getting quite dramatic. we just don't know how it's going to play out over the next couple weeks. if greece doesn't get that money they run out of cash on october 15th. that means they start issuing i.o.u.s to workers. they have already stopped paying a lot of their bills as it is right now. back to you. >> wow. striking news this morning. thank you. the daily rundown will be back in 30 seconds.