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But right now the president reflecting on the Democrats losing control of the house and seeing their majority shrink in the senate here's what the president.
-- telling sixty minutes.
Over the course of two years.
We were so busy and so focused on getting a bunch of stuff about.
We stop paying attention to.
The fact that.
We'll tell leadership isn't just legislation.
That it's better persuading people.
An hour hearing of -- potential compromise from the White House extending the bush era tax cuts for everyone but the question isn't -- At the Republicans will go along with that compromise but if the Democrats was well.
How -- they feel about sitting this new talent let's ask retiring senator Byron Dorgan he's a Democrat from North Dakota -- chair.
The democratic policy committee and I think this is the first time in introducing is retiring senator senator Dorgan how does that feel.
Well I've done thirty years and I it is -- -- in January 3 is my last favorite I'm excited for another chapter in my life it's there's been a great privilege to serve hear about them.
You know as I leave there's still a lot of very significant challenges -- as a lot for congress to do.
Yeah we don't we don't want -- retiring right yet we have a couple good weeks left in a lot of but music cover so let's talk about.
What we're hearing about a potential compromise here what are your thoughts on that a compromise on tax cuts.
Well I think there will be a compromise on that but let me let me just say first of all that the whole issue is jobs.
You know the Republicans had a big night Tuesday night but I don't think the American people think either political parties much of a bargain these days.
And and we've got to focus like a laser on putting people to work.
Because -- you know to the extent that people feel like they've got the opportunity get back to payrolls.
A good job is much more important than any social program I'm aware of and it would need to focus on that and get the best of what both political parties have offered to try to put people back to work.
So how do you do that by the way senator I mean.
What's a first step and that.
Well instead of fighting each other and everything let's let's sit around -- table.
And see what both parties can offer in terms of a menu and you're putting people back to work isn't just one thing.
-- -- -- not just one strategy and we give you a couple for example number one.
How about getting rid of the tax cut that now is given to companies have -- their American jobs overseas let's -- the drain.
As we try to get the thoughts of moving to get more jobs into this economy that's plugged the drain at the same time and then I would say.
Let's provide additional tangible rewards to those companies that decide.
I wanna stay here and our make products that have a label that says made in America let's say to those people good for you.
We want to encourage that and here -- some strategies by the way -- encourage that so those are things that we ought to do very quickly.
So let's talk about the bush era tax cuts because some speculation has been going on about what a compromise.
Might look like it again purely speculation but here's one of the ideas -- hearing.
-- -- the idea is it is that the middle class tax cuts would be extended permanently.
And the tax cuts for those making over 250000.
Dollars would then be extended one or two years.
Are you for that are you for extending the middle class tax cuts permanently in exchange for a couple years for higher income levels to get a compromise here.
Well I'm willing to compromise but let me just make this point.
These tax cuts were to return surpluses to the American people that's why they were created nine years ago it turns out there weren't any surpluses all -- was very large deficits.
And now we have a thirteen trillion dollar debt.
Extending the tax cuts will cost up to four trillion dollars in the coming ten years.
I think we ought to be a little conservative and say.
Dealing with these unbelievable deficits and debt means that you have to cut spending and you got to tighten your belt.
And also you have to get some revenue in and so keeping you know continuing to cut taxes sounds really good.
But perhaps we can't afford that forever permanently -- have to deal with the estate taxes you know.
Yet there's a lot of different -- that tax has just a final question here yes there -- -- reflecting about these elections that you hear that phrase the American people have spoken.
Here they've they've spoken here through the votes and I'm curious after thirty years in office what did you hear and what do you think other Democrats need to hear.
From the voters.
Well it was hard it is to determine a message except they voted for Republicans a big victory for the Republican Party.
And this -- a pretty strong message to Democrats that they were gonna -- some of those folks stay at home so.
-- I I really think the American people understand that this economy has been in critical condition is now improving.
But we've still got twenty million people -- are -- looking for jobs are out of work or look and looking to get the kind of job of that train for it was yeah there's a lot to do -- I think they want both parties to work together to kind of put things back in order and help lift this economy.
Senator real quick how quickly can you get something done.
And how quickly can compromise and his tax could be made.
-- we have a lame duck session that's gonna go perhaps three weeks into December.
And it's very important in my judgment that the president and the leaders of congress on both sides sit down to say you know what we're all Americans would represent this country we want this country to succeed.
Let's find the best ideas of both parties and move forward.
I I senator door again you have a couple weeks -- so they expect to see you back a few times before the freezing Chicago.
-- thanks to an event during thank you so.
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