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They're going to give up their leverage? and .i think they're going to listen to fight another day when the country runs out of money sometime at the end of february. we saw tim geithner the treasury secretary say december 31st is the day when we technically reach the debt limit. they're going to move some things around. after a couple of months, i think that's the next battleground. it just never ends. >> and we'll take a look at that. what geithner said was he was writing to inform the congressional leaders that a debt limit would be reached on december 31st, 2012, and notify you. the treasu...

Possible it divide where you have some democrats who want no movement on entitlements and if there's any heat to be taken, it to come from the gop or go to the gop. >> let me just say a couple of things. first of all, what geithner was referring to is that social security shouldn't be on the table right now because it's not a driver of the deficit we're dealing with right now. he's referring to a separate process next year. what the republicans have asked for previously and i hope they're not going to continue to ask for is essentially the dismantling of medicare. we debated it during the pres...

Civil war. yes, the american civil war, when talking budget cuts. >> it's not just a bad deal. this is really an insulting deal. what geithner offered, what you showed on the screen, robert e. lee was offered easier terms at appomattox and he losted the civil war. >> now, now, now, charles, that's not very christmassy of you. we don't mind if you wrap yourself to the flag, just make sure it's the one with 50 stars on it. dr. james peterson is a contributor to thegrio.com and robert reich is former labor secretary a and a professor and the author of "beyond outrage," now available in paperback....

Lost, trillions of dollars of the american taxpayers' money. deeply misleading and damaging to the confidence and the cost has been damaging to the president and the integrity of the effort. >>guest: glad you showed that. >>neil: he was ripping you. >>guest: i am glad you showed that. the question before that was a question of the criticisms in the book, and what geithner did, he suggested i said something that i never said. this notion that i suggested that the tarp would lose trillions. in fact, what is interesting, in my book, on page 163 because i was just looking at it we talk how treasur...

To save. at the same time we got rid of a lot of companies. mf global that john corzine runs is rumored to be in a lot of trouble. the lyon's share of the real weak hands were flushed out and look. i wish president obama would say i got a great treasury secretary and he was so far ahead of the world. tim geithner did a lot to make our institutions stronger. why doesn't he get the credit? he's one of the greatest treasury secretaries we had. look at europe. they didn't do what geithner did. he's a tough guy, by the way. >> let me ask you about some earnings reports. geithner gets a bad rap beca...