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Total reduction in the deficit you can imagine if the democrats and republicans were going to say okay let s make a deal they might say let s do 50/50 taxes and spending. if we were to do that we would be watching matching all the failed consolidations. people who tried to raise taxes kill the economy they don t get the revenue they thought and don t reduce the deficit. we need to reduce spending a lot if we want to get ahead of this curve. dana: a country that did it right and wrong? finland, finland, a country in the 90s that it right. what they did they reduced spending by 105% and cut taxes when they did it and this successful consolidation. failed consolidations are a dime a dozen. we are living through one. çñ 70% taxes. you wonder why greece keeps ....
A big formalnrnqy party, can it last if it is not formal? i think the energy that was there can last, certainly it can reformulate in some way. you will have this band of freshman republicans coming to town in a week s time who are going to identify more with the tea party in all likelihood than the republican party. if they can keep that flame alive and move it forward dan what is going to be important, do they hold the republicans accountable even though they were with them before do they say with them in the future. presidential election year coming up. the big trends of republicans versus democrats take over. the tea party was there for the republicans. it fed the right time, right moment, issues for the republican party to ride that wave. smart republicans know the tea party is not something that is a republican movement only. dana: what will speaker he elect boehner have to do to ....
i think right now the odds are that iran will get a nuclear weapon sooner rather than later. i don t think sanctions are having a material effect on the nuclear program. i think they ve caused some marginal increase in iran s cost. i think iran s economy is in bad shape. not because of the sanctions. because of 30 years of economic mismanagement. north korea is under enormous sanctions and it has exploded two nuclear devices. i think we reach a crisis point sooner rather than later. dana: how do the political dynamics change if that happens? let s say we come to the point where we have reasonable reason to believe iran has a weapon so close it can put it together quickly. almost without question, saudi arabia, egypt, turkey perhaps others in the region get their own nuclear weapons. so you have within a very short period of time a ....
Itself i think is what is at work here. dane dan do you think if there is new information dana: did you think if there is new information there will be changes after the new year from our administration, the white house, israel or broader mideast? with respect to iran undoubtedly the administration is going to continue the negotiation track. that s what they ve been trying to do the last two years trying to find some iranian who will negotiate with them. european foreign minister, lady ashton has held one round of talks and wants another beginning shortly after the new year. i don t think these talks are going anywhere. they provide cover for iran s ongoing program. i think that s where the obama administration will be. dana: earlier today, i was thinking about this story, this is the time of year when people look back on the previous year. most people think i can believe 2010 is over to me a year is not long. what could be done to stop this from happening? ....
Crisis. dana: sidney banner lost a business then his house. a guy i met in palm beach county, florida on the day that he officially by the court record lost his home. when the judge said we are setting the date for the auction. he s from the second wave of foreclosures. the people who were victims of a bad economy. middle class people who had jobs and incomes and had no problem paying their loans until they lost their jobs or underwent some sort of fiscal hardship. mr. banner, a very nice gentleman, world war ii vet, 84-years-old. he lost a small commercial leaning business he ran with his family two years ago. right before he lost it, he he took out a $250,000 home equity loan to help make his payroll and a his employees borrowed his house in boca raton, florida. he defaulted on that loan and ....