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Expire on december 31st. if they do nothing dividend tax almost trip -- triples. capital gains, there will be a range of tax increases on everyone. they are not going to do that because a lot of middle class people will get hit. in exchange for not raising taxes on certain groups i'm sure they will slip over taxes in and try to build a consensus package. >> stuart: let's suppose you are right. if they did, then it would rebound negatively on president obama in 2012 -- >> oh no he will of course oppose all of this, shock, shock, there would be a lame duck session that would pass cap and trade o...

Mistake. what they're going to to try to do, bring the democrats along and say do you want the defense cuts and leon panetta says, no, the president is threatening to veto that. go ahead and do that, let's have a debate about the need to fund our military. >> will those cuts ever happen, dan. >> with strong presidential leadership, they will. i'm very much for this sequester and really, we've supported it in the past and it's the only way that washington is going to cut that budget. >> look ma, no hands, no-- >> now. >> the automatic slice and dice. >> we went through this in 1990 with preside...