Power Play 12/21/12
So, over the cliff then? Markets react to Washington cliff walk and the best and the worst of 2012. Join the chat!
- Duration 23:57
- Date Dec 21, 2012
So, over the cliff then? Markets react to Washington cliff walk and the best and the worst of 2012. Join the chat!
Also in this playlist...
This transcript is automatically generated
What the president has proposed so far simply won't do anything.
To solve our spending problem.
He wants more spending and more tax rates other over our economy.
And he simply won't deal honestly.
With the entitlement reform in the big issues that are facing our country.
And that someone who probably wishes that the mayans had been right or at least a little right.
So that there would be a distraction from what happened in the house last night.
And this is power -- that was a press conference from house speaker John Boehner that he had this morning in which.
Chewed on his -- old bones for about a half an hour.
We're twenty minutes asking him you're done right -- ruin your -- because house Republicans rejected your plan.
-- -- -- -- -- -- -- That would have extended the current tax rate for everybody.
Current income tax rate for everybody.
Who doesn't earn a million dollars or more.
And he was having great winter solstice it was not a super winter solstice for him we'll talk about the state of the fiscal cliff.
We'll talk about that we'll talk about how markets are reacting to it we'll talk about.
That stuff we'll talk about what this means for the Republicans we'll talk about John Kerry.
Going to be secretary of state probably if Hillary Clinton ever gets over her confession and leaves.
Just testified first.
But we'll have -- a special year -- our -- because this Internet is your last power play but when it well this is it.
That's -- you can get so you better enjoy.
This thirty minutes of un -- Internet political excellence.
And equal equal to that task -- -- jobs Josh crossed our.
Yes you've got to read it yet and I'm really really excited to be.
To get off the last corporate results twelfth is -- it's kind of a big deal I don't even need to say.
But Josh is the executive editor for the national journal's hotline which is of course before the Internet before you even it was the place where people.
Wait to get up to the minute inside -- agree.
-- -- -- -- crass politics welcome yeah thanks to be here all right so.
I assume that the Internet knows this I wrote about it in today's power -- -- but basically what happened was last night John Boehner tried to get day.
Million dollar version.
What the president wants like Poole president wants Texas to go up for people who make 250 above Anderson -- a million.
His conference wouldn't go for it.
And he pulled the bill.
What's the concept well.
Trying to convince conservative Republicans.
To raise taxes.
But the base is not budging and it's it's it's you're seeing at least forty to fifty house Republicans -- very conservative districts in the country.
And they are not willing to play hardball they're not willing to understand a larger strategic significance.
And in it and they're hurting the Republican party's long term strategy Obama now has the upper hand.
Because he might be able to get.
Congressional support with a majority of Democrats and a small drop of Republicans who want to get something done at the expense of a lot of the a lot of the policy gains that they're better at bay itself but it's not good news for you you -- -- going to be.
Going over the fiscal cliff or -- the eventual plan that's -- is going to be much more favorable to the White House.
-- thing about this though is that.
The worst thing for bear tell me this is the worst thing for Boehner would have been it would their two worst things one would -- bring it up -- -- and failing.
That would have been like uncool.
Another thing that would have been bad for Boehner though and tell me what you think of this would be.
And narrow win pulling this out of a plane right at him for four million dollar.
To get 218.
Votes in drag this through that would have been really damaging to -- medical.
Either way it underscores.
How the party has changed.
They used to be they youth but Tom DeLay Lewis in the leadership he would promise earmarks were promised benefits he wouldn't hander twist every wavering Republicans.
That's where a new agent in Boehner is looking to be a very weak leader just in terms of how he can persuade Kevin McCarthy that.
-- majority whip was just ultimately unsuccessful -- -- convince anyone and give them anything.
Two to be on the team are we so and I -- -- it is very difficult solutions.
The solution that we would even have a close vote is almost it's almost out of the picture that it -- it's either going to be.
They're persuaded of the merits of the case where they're gonna have a large scale revolt against speaker there then I read an argument today.
Which was this passing on an argument.
We -- The idea was.
We're also watching the NRA press conference and -- -- response.
-- -- -- the head or whatever it is you know he's he's big he's the GI.
It is is -- just days put armed police officers at every school cross country.
But will be we'll talk more about that later.
Some -- -- error.
Today he said look if there were a hundred people drowning in a swimming pool.
And I could only -- 99 of them I wouldn't not do it because I couldn't save all 100.
And this is.
Can they convince can't Boehner and cantor and McCarthy and these people convince.
If any Republicans at any point.
Tax increase is not the same -- voted to increase taxes it's going to be hard and I think what it would take is if the market.
Collapsed it in the coming days and we already saw the stock market did about a 100 points this morning.
Remember the TARP vote where we had a very similar dynamic you had conservative Republicans bush was begging.
The house caucus get enough votes for him did happen the first time they got it -- the second time.
The problem is you're gonna have a second time this time around the second time is going to be a much more favorable package.
For for the Democrats or it's -- -- going over the fiscal cliff when everyone sees their taxes raised to the pre bush bush levels.
So it's not a good and this is the best -- what is the best middle ground to at least.
Store compromise have some political points to bring against the White House now he looks weak and Obama is going to be able to.
To maximizes leverage.
I am pessimistic that that something's going to get done -- remember Democrats are not fully unified.
Either and you've had debates within the Democratic Party over whether -- president's 250000.
Income level or the million dollar level favored by folks like Schumer.
Tim -- and others.
Are the appropriate way to go.
But the notion that we're gonna have Democrats and Republicans coming together and just narrowly passed.
Who is on the difference -- of the fiscal cliff I think -- less than 5050 today.
What about the Republicans have talked about this which is basically they -- the doomsday option.
Which is at the end on the 31 or whatever they'd bring a bill to the floor that extends.
Tax rates for everybody.
In the 98%.
That the president talked -- basically a bill that extends tax breaks for those people.
They don't even vote on it they just let that they let it pass on democratic votes there either accidentally stance.
It's -- launch -- -- would have had something if it was that simple I think we would have had something.
To this point -- and we get that close to the end of the year you -- iris only to have -- you know what the tax plan is for the upcoming fiscal year so.
The closer we get to the new year makes it really really hard -- -- come up with something before going over the -- Gosh.
Way too close for me -- -- -- -- thank you very much all of us and happy to -- happy new year Merry Christmas and Kwanzaa whatever you've got between boxing day so I hope it's -- wonderful for you the most important thirteen thanks Chris.
Brace yourself there is more -- this freight train of awesome is just leaving the station.
And when we come back we're gonna have to your favorite analysts -- we already have -- hoses and pepper spray ready because we've got Doug Cornell of Ford O'Connell.
We're going to come in here and do you read fist -- -- for you we will talk about John Kerry.
We will talk about what this means for John Boehner himself.
-- -- -- -- -- That's the same 4050 chuckle heads at all years starting with -- HR one.
Entire congress -- screwed this place up.
And then so you know -- and he has done everything.
In his power to make nice to them to bring them along -- to make them feel included.
But it hasn't mattered.
And so I I don't fault them committing them.
And that is what it sounds like when -- retiring from congress that was -- watch correct.
Republican from Ohio trying to be forty or 58 -- the forty chuckle heads.
He says are responsible for blowing up John -- -- BD.
And this is power -- welcome back and so the question is this.
Those aforementioned chuckle heads or defenders of liberty depending on where you're sitting.
For those folks.
What are they gonna do with John -- now and what is John -- going to -- with them.
These are good questions I think if I do say so myself.
And fortunate we have good people to answer them you know and like Ford O'Connell he's chairman of -- -- -- -- He was of the McCain campaign he's a Republican even though he wears a tie.
And Sox today no -- No socks majorities in the house could be consistent got to be consistent just stick with that and definite he -- strategist democratic strategist at -- -- rocker that is.
For those of you who are not -- Arguably.
-- -- its most influential kind of democratic firm.
They're big deal he was formerly.
The mouthpiece for.
The -- -- The OK gentlemen so John Boehner.
The press conference today.
Listening to that they were like you -- John Boehner and -- this is.
Hot hot hot hot there was a lot of that and Boehner was obviously not happy that here's a question.
He could have forced this vote could they have that he couldn't round this out maybe he could he -- gotten there for what he says -- he -- possible little bit by -- in the same.
I think he was because I don't think you want to waste this political capital because we're we're not done I think that John Baker -- There are okay in terms of actually get in brokering a deal I think by pulling it back.
He saved a little bit political capital and I want to see what the sentence couldn't do but that doesn't happen and nothing works out of the senate.
He is still just in some leverage with the white justice clearly the president cannot afford -- recession -- can the American.
Yeah well I mean I think these members are gonna have to go home for 45 days right.
You're gonna have the Wall Street Journal you have media -- on both sides.
-- -- Kind of analyzing this vote I think after -- you know it was a shorter turnaround but.
There's a lot of criticism after that first vote on all sides in this may apply pressure to not so much the Tea Party wing of the Republican conference but maybe some of the moderates that are remaining there that look they've got to come to the table.
And you know right now we're not really seen much compromise not so much from John Boehner but from this conference we haven't seen really any.
Only one thing that I think might -- interest -- -- for -- Steele to step back and say OK I go to the White -- what does a sort of bipartisan -- -- able to come -- I'm just saying how -- that -- behind closed -- gives an opportunity.
-- -- like no time -- yeah there's going to be a bipartisan legislation to -- -- -- I think -- -- I think that Boehner and Obama -- closer than people realize what they are uploaded.
Did that today -- sitting here and Obama are very close -- -- -- but is the Republican conference that basically doesn't seem to be able to take yes for an answer on a lot of things on spending cuts.
I thought that tactic you know tax relief for 98% of Americans would be something that Republican -- and let me -- wondering -- -- -- -- were -- so some people -- and that agreement that is because Grover Norquist basically -- plan they.
-- something right.
In the -- that was -- -- -- in and I think what he was gonna happen is is that I think Boehner wants to do the war spending side.
If you can get a little bit more honest -- -- he may be able to either.
-- fully Republican -- personal -- that the majority of global -- the moderates -- -- Republican -- -- agree with.
The moderates and democratic -- -- it's because what people -- -- On the spending side.
There's some horror -- house Democrats that don't want they can -- -- -- so let me go to like our guys attacks we've already voted for trillion dollars in term spending cuts as part of that much control.
We've already done that.
President -- -- well I think what's gonna be interesting is whether John -- picks are spending for a well I don't I agree and that's why we're having this conversation but I think what's going to be interesting is if John Boehner kind of moves away from this policy of the majority of the majority which is kind of dominated.
And LA but what.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Eight dollars and meditating -- Cleveland when I don't know -- but I wanted to do wanna get a little talk about uncharted yes I agree with you John Boehner.
Advantaged or disadvantaged clearly disadvantaged that he couldn't get this -- would -- today yes it's true but.
He's going to be speaker yes he would yes yes I got and I think he hadn't yet is pretty.
He's the easy and I just know he's not damage and I expect him to get a deal yet that's the ball.
-- I had before the 31 -- -- -- -- -- I hope for the 31 I really fun.
I really think so but I don't get an editor for sure -- -- I don't have a by January particular thing is for these Republican.
Here's what I'm trying to.
Wrap my tiny hillbilly brain around it it's this sort of -- how do well it's a big head but a lot of room and then there's I have -- -- got like a love scene is -- TS there this question is this.
How could the Republicans being advantaged on the other side of the fiscal cliff the president gets all he's starting from a new.
Baseline if that's what is there is a lost or in the Republican Party.
Sure Hamas and all honesty -- this really was as we need to plan -- was knocked it goes from some.
Friday was allowed to go to this started to basically I get us but durability and we got exactly 75500.
Right we wanna get them off before.
And we wanna get better a better deal on the entitlements that you say -- you -- deal.
I'm not convinced I mean I.
I was a lot more optimistic you know three weeks ago and I was optimistic four days ago and I thought this -- yeah -- once we once Norquist surprising Norquist said.
Not preventing an automatic tax increase is not the same as voting to increased I had I think part of it is -- Boehner is gonna have to talk to the Club for Growth projections -- and I really think that those are two groups and put -- people have been trying to that old I'm gonna talk to the club -- I'm just trying to create any negative really the biggest problem might Republicans that -- Staring at the next six months of primary potential primary and nobody -- it is not just apple were also concerned about is the fact that we do go over the cliff and we do -- -- -- -- -- got a paper cut it to death in the over the next see movies of distortion the people who watched the show here's what big inning 323 says.
Who's to say bad vote is better than no vote.
-- congress so far the one thing everybody it's still can do.
-- point fingers and blame the other guys for everything very true do that's -- -- that's how they roll -- the idea.
And right now we have a terrible moment where there is expectation of recession.
There's an expectation of economic downturn.
And there are a lot of people who would like to say.
Don't -- this like democracy like don't blame me I voted against plan B your nose for that the surprising thing I thought about John banners.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- House right now.
Just because I do believe that he will look at all options and pick the best available given situation.
Right there -- -- of the Buckley rule as applied to legislation that's okay about this.
-- -- take a quick break very.
An instrument infinitesimal these small break and when we come back we will talk about.
-- -- Who will now likely be secretary of state again if Hillary Clinton ever gets her health and good enough order to depart the privacy is down in foggy bottom.
And talk about that when we come back to stick around.
They'll do it.
Or it that is John Kerry.
He once was.
-- democratic nominee for president he once was the leading voice.
Of the anti war movement in the Vietnam era.
He once was a lot of things and -- May yet be.
The secretary of state that's the news that you get today President Obama -- at Fox News has confirmed that president today.
It's going to announce the John Kerry is his man to replace Hillary Clinton.
This is power -- OK.
Dogs when Allen -- -- we could talk about a lot of things as it relates to John Kerry.
And all that stuff we talk about that -- we talked about Hillary Clinton we talk about but -- I've -- you know what I -- -- -- here.
Cynical politics etc.
I -- talk about Massachusetts senate race first because if you -- John Kerry.
Out the senate in Massachusetts.
Scott Brown who just lost.
By Republican standards in Massachusetts a good and he he made a good showing.
As a Republican in Massachusetts in a special election which is what he got in on in the first time.
What happens in the Massachusetts let's start with a cynical politics for what happens in the Massachusetts an election.
Well I think that efforts football -- actually has two points -- what is it governor.
Do he has the governor of Massachusetts gets to appoint someone who is top choices are -- cap wanna.
But he again after that we're gonna have a special election -- retired -- sixty days.
It looks like if we are running the only game in town Scott Brown according to polls will be right back in the United States in the -- well -- -- at least in the mix because.
Obviously and this is we should point out.
Like special -- -- in states that are democratic because we do very well look at the region's focus on one thing vs 25 balls and here it's amazing and a federal.
It dropped all of them ball -- -- except that you know when Scott Brown won he was running against -- deeply flawed candidate and during the group through the Motley crew the result according.
Well like as I poured in Massachusetts thing was that there was -- -- Martha -- I mean -- and I'm done this time around I don't know but if they don't -- Ed Markey seems to -- -- -- -- the guy no I -- right over the last -- -- in terms of the -- and then I think you know health -- was that it was at the forefront of the news and views deeply unpopular stunt so look I think it.
That it would probably be a toss up I mean it would end which is probably good news for Republicans I had messages -- as soon.
I actually think that that Scott Brown has the edge and are starting to see him game series this out with his statement -- -- about the robbery and assault weapons he is trying to be.
A Republican represents Massachusetts and frankly he's got the infrastructure employees.
He's got the right people and really -- more -- Markey -- -- and accusing the senator.
Not having honest change of -- you think there was no I think I am saying that he is thinking about his political future villains immediately dollars and stately if you don't trust our message states senate but it's it's beyond the Cleveland Republican takes a lot of -- exactly does that look like -- line and went on shouldn't.
-- -- okay now to the other part.
Is -- gonna have any trouble getting confirmed now.
The the only way is he swift -- is on the wrong is not confident run ads against it and sell you an edge that you as a surprise me you -- no problem I think he'll be known about the -- of the fact Merry Christmas guys there Chris it's been a 12012 if you yeah it's been and we look forward to having you back I was hoping for more vitriol here -- you were in the holiday spirit and very well behaved because and we can talk about what do you want the smaller government out -- yeah you know that if the world and you don't want to go out on that note we -- That -- -- her that's right I mean we may do so hard it would have been our new yet.
Soon it will be noon on the East Coast Internet and when that happens Laura -- will be here to talk to you to get you through the rest of what believed to -- -- for the winner.
Solstice or some shopping before Christmas or whatever that will be fine.
But now how about some final power points of 2012.
Here's a PowerPoint for -- -- -- points for today later 2012.
It is not a zero sum game in politics it is possible for everyone to lose every whatever bad -- and that's what happened in 2012 Barack Obama got reelected president that's good.
It's good to the Democrats had a better year in 2012.
-- had a pretty rough time this was the arguably it was the worst election of my lifetime certainly the worst election covering.
Politics it was a grind.
People weren't happy there was not a lot of joy in the hearts out there it was very negative.
And people are very down on Washington -- close this that they close that election feeling worse.
About the way government works and -- the country functions and they did when they started that's not good.
That's not helpful we don't like that.
So second PowerPoint how about some lessons learned what did we learn in this process through the course of the year.
First thing you learned you can't -- the colors you can't beat the -- district over and it's true in politics Mitt Romney.
Tried to draw to an inside straight three or four times but when you get down -- it it's candidate vs candidate it's organization vs organization.
He couldn't beat the cards that's a lesson march 2 lesson learned -- Is for the president.
Good -- governing how you campaign and the way the president campaign was negative and it was unhappy.
Now he's going to have a negative.
Unhappy experience or quite a long time in Washington and this contributes to the -- out factor third PowerPoint.
Mary anyway he's you know what it's just politics who cares I mean he's scared he's got to come back -- -- thirteen and watch the show where I'm gonna be out of work but.
You have some time now to ignore Washington please do please -- Washington as best you can and be merry and -- amongst yourself.
And from everybody here -- power play in the Washington bureau of Fox News Channel we love yet.
We thank you for watching we wish the best -- you and your families Merry Christmas we'll see -- when he thirteen and now for the last time.
Of this year a word from our French are.
Us what is said to one thing the -- -- the there's not succeed if he fails in their house.
-- has a plan C that's the Mayan apocalypse tomorrow.