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And by the way, does it matter which way it lands politically for the president and politically for the republicans in the house? >> richard haass. >> i think the big question is also whether this happens smoothly or whether first there's a failure to get over the fiscal cliff, there's a big breakdown in washington, the markets tank and almost like the t.a.r.p., then the week after or day after something comes together. and when it does come together, it will be good because what it will introduce is this needed predictability. what the markets are crying out for is some sense of tell us what ...

Mini-deal or something like simpson-bowles. but if you get a mini-deal, a lot of the same issues will have to be dealt with in a $4 trillion deal. if you have the politics to do this, i would think you'd have the politics to do the bigger deal. >> that's still a small deal when you look at the past four years. as you move forward, the deficits are going to go even higher. >> oh, yeah. even a maximum deal, i think, all of us would agree is not going to happen. simpson-bowles is not going to go through. and even that would not be commensurate with the question. and i think what exacerbates this ...

Latest updates on this topic from reliable sources.

Latest updates on this topic from reliable sources.

And boehner would never -- i don't think boehner has ever voted for a tax increase. now, if president obama had said broader scale, corporate tax rate lowering, bigger tax reform to close some of these loopholes you might get some republicans to support that. >> you think so? >> but it would have to be big and serious and i think this little small ball is not serious and i is what is chipping away at credibility for republicans and democrats but certainly hurting the white house which is why they called for some summit. i don't understand why this has to be a summit. why can't this be a meetin...