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Didn t produce growth. it did. it was offset by continued and increased spending. look at the spending in the bush era. look at the bush in the reagan era. look at the spending. that was the nub, if you will, for a lot of fiscal conservatives, we d make these grand bargains, these deals. we re going to raise taxes and we re going to cut spending. we always got the tax increases, we never got the reduction of spending. when you look at a level where you have revenue coming here and you continue to spend, that gap hold on one second. i want to get kurt in here. this is also a culture issue. somehow if they lower taxes, things will be better, but now they have given that argument up, at least for now. culturally, in this capital, can there be any kind of grand bargain? republicans have ceded the tax argument. i cede to norm and his ....
guest: not john boehner, and mcconnell is not either. you heard yesterday when treasury secretary geithner put the plan on the table, mcconnell literally laughed out loud because they saw sticker shot on republican side. they believe the president campaigned on $800 billion tax increases back over the last few months and now suddenly it is doubled to $1.6 trillion because it is not just about going back to the old clinton tax rates and letting the bush rates expire it is also about adding new taxes on capital gains, dividends, et cetera. the push back is the president campaigned on this and he believes he won that argument, and he believes that once republicans give in on the tax argument, at least extend the bush rates for the middle class, as the president says, 98 percent, basically, he will talk about spending cuts and i think ....
Not going to take income next year. there are lots and lots of ways. we have lots of evidence how that happened in 2010 to 2011. right. also when reagan did it the other way, it was a huge difference. 1981 to 1982 was zero real growth. my guess is, paul, that this year has been inflated way beyond what it should be. it s not meade evenin mediocre,s terrifying. my guess, i m wrong a lot, but if we go into 2013, i ll see us drop off substantially. the obama administration economic official a couple weeks ago, he said, look, this tax argument really doesn t work. if you just raise taxes on capital gains, dividends, on the ....
Problem. the tax component of going off the cliff is the one that s the most difficult to solve. the spending cuts wouldn t be that hard to solve if they got together on that. but ana mar re, the news polls show that 50% now say they trust president obama on handling taxes. 43% say they trust mitt romney on handling taxes. the president seems to be winning this tax argument. i wonder if someone has to do with someone s missing tax returns. there s some trust issues involved in mitt romney s own personal finances, i think. but there is kind of a wonderful the fiscal cliff is a scary sounding thing, but sometimes when i m thinking about it, i picture the returns grasping on to the no tax cuts for the rich as they fall off the cliff. they really are taking it for the team, i guess, or taking it for the rich, for mitt romney in this particular scenario. ....
Problem. we can borrow from international markets right now at the cheapest rates we ve been able to borrow. that s not a budget deficit problem. the tax component of going off the cliff is the one that s the most difficult to solve. the spending cuts wouldn t be that hard to solve if they got together on that. but ana mar re, the news polls show that 50% now say they trust president obama on handling taxes. 43% say they trust mitt romney on handling taxes. the president seems to be winning this tax argument. i wonder if someone has to do with someone s missing tax returns. there s some trust issues involved in mitt romney s own personal finances, i think. but there is kind of a wonderful the fiscal cliff is a scary sounding thing, but sometimes when i m thinking about it, i picture the returns ....