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Chris, what we understand is there's two things causing this fiscal cliff. just two things. they're very important things. one is the bush tax cuts are expiring. we want to make sure they stay the same for 98% of the people and just those over $250,000 will go back to the clinton rates. and we had the greatest prosperity under bill clinton. and everybody knows that. 23 million jobs, balanced budgets, all the rest. it's not going to hurt anything. the second thing, the automatic spending cuts. so my view is we can climb down that cliff by doing what the president says on taxes, bringing home th...

Extent? it has to be a 60/40, something like that, deal. how is that going over with your colleagues in the senate? >> honestly, i believe everybody on my side of the aisle -- i haven't talked to much to my colleagues, my republican friends, because they're under a lot of pressure and i'm not going to put more pressure on them. but i think among the democrats, chris, what we understand is there's two things causing this fiscal cliff. just two things. they're very important things. one is the bush tax cuts are expiring. we want to make sure they stay the same for 98% of the people and just thos...

Do than what you want to do. i agree with ruth, it will get done because it has to get done. and i think rate now we're just waiting to see is last-second shot or a little sooner than that. >> bob, you're on the hill. you obviously hear the chatter like i do. when we talk about what can get done, it seems that getting something done is a blueprint to then work on something in 2013. >> yes. >> that can't necessarily inspire a ton of confidence in the process. >> with respect to the other members of the panel, i think they're going to punt most of this, because you heard speaker boehner already ...

Don't. we don't even come close. it's a mess. and if they don't fix something on the fiscal cliff, the tax rates, which are going to go up for everyone, the automatic spending cuts, which make absolutely no sense. if you and i sat down and devised it this way, we would have our head examined. >> bill: i think they are going to come to some kind of deal. i don't think they are going to lead that happen. >> let's hope not. because if they do it's going to be an economic catastrophe. >> bill: stock market will go down 700 points. right. >> it's going to be a leadership catastrophe. >> bill: after...

Don't. we don't even come close. it's a mess. and if they don't fix something on the fiscal cliff, the tax rates, which are going to go up for everyone, the automatic spending cuts, which make absolutely no sense. if you and i sat down and devised it this way, we would have our head examined. >> bill: i think they are going to come to some kind of deal. i don't think they are going to lead that happen. >> let's hope not. because if they do it's going to be an economic catastrophe. >> bill: stock market will go down 700 points. right. >> it's going to be a leadership catastrophe. >> bill: after...