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Former CBO director Douglas Holtz-Eakin on what Congress should address between now and the end of the fiscal year.
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For more let's bring Douglas -- taken in to all this former CBO director he's also.
In Washington with this you know it's like which it's almost -- -- to us after awhile they'll all they're not gonna get anything done but.
Is there anything is there -- headline that we can say out of this session of congress say.
Hey at least they did this -- just a loss costs.
Well what one would hope that would in fact pass half a government funding bill so we can avoid any sort of fight ever shut down that that section is the least we can expect out of them.
I would also be very useful if they took on some of traditional roles of oversight top.
You know for example I think it's been eighty odd years since we failed to pass a defense authorization bill which means that we've.
Look at the Defense Department authorized the programs is undertaking.
That that's not happen in the senate if this year and I think that's just striking omission.
And of course the big things the fiscal cliff evidently they're not -- what do to get it together and try to -- that but every day they don't.
I see the economy damage time -- start to see people being very nervous about the contractor cutbacks.
Baring her spot higher taxes.
And that's not good news going into weak economy but my question becomes as a look at some of the what's going on here at this fiscal cliff and when the expiration happens of the tax cuts and everything else.
My question becomes what is the election going to change about all of this everybody keeps saying no way after the election will do -- wire.
Or receive -- just say -- hypothetically President Obama wins reelection but even if he doesn't even if Romney went.
How how does it change anything where the Republicans still a control house or maybe even two of congress with the president.
-- reelected -- suddenly gonna get along a start cooperating I mean.
-- -- you're committing common sense which he gets in the way of thinking about politics and I -- -- that the reality is that after the election.
Whoever does well is gonna wanna kick the 2013 as much as they can and so.
We know right now they're gonna do very little in the lame -- and under the very little bit for going to do now right they commented danger and move on but.
That's the difference from politics in common sense is there -- and we are a suspect in that situation they're serious side of this wherever you know if you go back and read what message he said -- -- -- The credit rating was downgraded it and they did point out.
To the congress resisted dysfunctional environment in general politically but -- -- basically read between and say hey you guys are just.
You can you just functionally you can't get things done -- -- didn't affect anybody.
-- what one would hope that it would that there really two things that are going to be that the key test number one.
-- the congress and the president decide to be good stewards of the economy between now and spring 2013.
Right that doesn't mean they have to solve the big battle over how progressive taxes are within -- -- reforms like.
That means they have to do no harm.
And then.
Who -- governing in 2013.
They have six months to a year to make serious progress on our problems.
And if they do not -- I think the rating agencies are gonna right now we're right the politics -- so bad these guys can't fix the problems will get downgraded that again.
I'd the -- thank you Douglas -- taken former CEO director appreciate it.
