The politics of the 'fiscal cliff'
Political Insiders sound off
- Duration 6:52
- Date Nov 19, 2012
Political Insiders sound off
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You knew them and as the campaign.
Look at this graphic.
That's right -- the political insider's -- with a brand new focus discussing how the ongoing effort on Capitol Hill to avoid the so called the fiscal cliff might come out.
And how President Obama will deal the unraveling situation in the Middle East between Israel and Hamas.
Let's talk about the -- first.
And bring in our political insiders big name is changed but the people of this change ultimately a former Republican congressman for New York -- -- Fox News contributor and a former pollster for bill Clint did joining us via a -- remote from beautiful West Palm Beach, Florida.
-- -- Fox News contributor and a former pollster for president Jimmy Carter who's hanging out with the rich and beautiful people.
So I'm gonna go to you last patches because of that but dad thought I.
There is a lame duck session.
But for the fiscal cliff hit it's really pretty there's a bunch of holidays -- grand bargain really be hammered out.
I hope so -- bottom line we need one.
The decline in the stock market last week.
Said that the markets.
And the financial community is not to be tolerant if we don't get a grand bargain.
Bottom line I think the Republicans have to cave in on be willing to increase revenue even increased rates.
-- the conversation.
To entitlement reform and spending cuts but bottom line the president has -- over.
You know John I think you're gonna kick down the road it interim deal that simply postpones all the elements of the fiscal cliff for let's say three months is Jim Baker.
Of two administrations when yeah.
Well that's possible that's it that's -- happen in Washington is never to take the problem long.
However after an election like this one the Republicans were really in trouble they know it.
With the results.
The Mitt Romney telephone calls to the donors all the stuff that's going on.
Has them back on their heels and I have a feeling they they would like to make a deal.
With the fear that if there is no deal.
The media and Obama have the upper hand and are gonna put all the blame on the Republicans like they did in 94 with the government shutdown.
That cost us a lot and the public wants a deal now and they ought to make a deal the public supports raising tax rates on the rich.
Get it done and let's move -- What about a compromise that looks like this we're gonna raise the marginal rates on high income -- what -- we will do is make and painful war.
-- closing loopholes and putting a cap on deductions.
Well I think that you know we're seeing numbers and say that that would raise a lot of money coming you do it.
But I think the president is this just absolutely out of meant he wants to raise the rate on on the wealthy that's -- -- campaign don't think the real question here.
Is whether the Republicans in the house can get our act together and off.
To set forth and say we will -- view.
Revenue increases were leaving you view what you want but we want -- see real spending cuts not the kinds in the past.
We're nothing good ever came by where the ratio was two or three to one or -- ever.
Demanding the president take the lead.
But if the Republicans are Smart what they're gonna say -- he won the election Mr.
President we don't agree whether we will raise revenue but only if there are real cuts only if we take on.
We have the programs that are hemorrhaging but I do think you're right and we're gonna get a short term deal and then by the way we're gonna have another debt ceiling fight this is not -- -- well.
You know the Simpson bulls you know -- -- 31 spending cuts to revenue increases so that could be reasonable and doable but.
What -- Grover Norquist the anti tax crusader made 200 and can make them but we forced them 200 and 58.
Republicans to sign his no tax hike pledge that include -- can't do the loophole thing you can't raise marginal rate he's powerful guy here but given the election is he dead in the water now well.
I wouldn't say he's dead in the water but if the Republican Party.
Hughes its sale to Grover Norquist it is consigned to permanently lose elections real bottom line.
The Norquist pledge is not relevant.
Given the debt and deficit that we have the need to raise rates potentially as well as cutting loopholes and balancing the budget.
-- that's I want him back -- I think it's time that the planned to write more members don't -- onerous -- While it still exists it can help the GOP in negotiating with Obama they can say -- -- was.
We send out for me hate to break this pledge is going to be really rough for me I might do but I got to get what -- -- said three.
Dollars of spending cuts in -- -- and entitlement spending up reform and then they ought to learn trying to reform it cannot be out of discretionary.
The religious -- -- back up what John said.
You know it would -- particularly said Grover Norquist is an albatross worse than an albatross he has a death sentence of the Republican Party.
He is absolutes it is killing them.
And it hurt him in this election will hurt -- in the future I gotta switch really fast and log on to.
Gotta switch to being Ghazi General David Petraeus former CIA director secretly testified behind closed doors on Friday saying look I knew from the very beginning.
That this was a terrorist attack in being -- that killed four Americans.
And I told everybody that but you know the talking points were changed by somebody and I don't know who here is.
Senator Saxby Chambliss today on Fox News on.
You don't have a sorry.
We're gonna try to get that in the next block so.
Let's put up one more thing on the taxes sorry about that my dad.
The Rasmussen poll 57%.
To raising taxes 35%.
-- his -- Point bottom line a majority of the American people support it now people believe that the best way to raise revenue not surprisingly.
Is on somebody other than themselves and if the Republicans are gonna get the narrative right they have to exceed to what the president campaigned on it's as simple as that.
And -- there's something else is that the term conservative has changed over time it has become.
Orthodoxy in the Republican Party that you can never vote for any tax increase no matter what goes back to no new taxes George H.
When he lost -- 92.
You can't -- a Republican right anywhere but.
The real hero the Republican party of moderate Republican Party Ronald Reagan.
As governor raised taxes as president raised them because he know if you're running the country.
To run up deficits so either cut spending raise taxes or do vote and Republicans need to grow up.