Trading Fine News Today : Breaking News, Live Updates & Top Stories | Vimarsana

And small businesses on their but has not yet been forthcoming first $250,000 of income. and what republicans are saying on real entitlement reform. and without the two, there really is no deal. it is, nobody gets that tax >> i want to come back to taxes. relief unless folks over grover norquist, who will be back in just a minute on our roundtable. he has said pointedly, you $250,000 get the extra four wouldn't have been elected cents on the dollar that they senator had you not signed that were getting compared to the clinton tax rates. pledge not to raise any taxes. and i just don't believe t...

He wants to extend tax relief for 100% of american families and small businesses on their first $250,000 of income. and what republicans are saying it is, nobody gets that tax relief unless folks over $250,000 get the extra four cents on the dollar that they were getting compared to the clinton tax rates. and i just don't believe that the american people are going to accept the republican position when we need to extend middle class tax cuts and get serious about our long-term deficit reduction. >> gamesmanship. that's the big piece of this. what's the bottom line? does the president have a ch...

Both sides are digging in. based on that interview, it looks like the president is digging in and that's unfortunate, because it doesn't seem like we are looking at compromise right now. as far as the economy is concerned, we will see a hit to the economy if in fact both sides continue to dig in. and the markets right now are expecting a deal. the markets have been trading fine. if we don't get a deal, we're going to see a sizeable decline in stocks. we are going to get a big disappointment. >> jim, let's talk about it. when we go over the fiscal cliff, what happens? the bush tax cuts expire j...

Would play it. when will we listen and stop the insanity? feel free to answer. >> yeah. look. you know, it's a real dynamic in place where it takes the horrible things to happen, a risk of a recession, of a debt ceiling, you know, defaulting on u.s. debt, it takes the really dramatic things to force action but it gets back to the issue of where are the power levers and the forcing mechanisms to make the government deal with the deficit? that's not coming from the markets. the bond market is saying here's the money you want and we're kind of creating these things out of nowhere to force us to d...