This transcript is automatically generated
Member elections but it's not a done deal yet joining us now -- exclusive.
What is does is interview Republican senator Mike Craig -- out Idaho.
I have to tell you I think I speak on -- -- a lot of Americans.
When I say we are so sick of hearing this kind of stuff because we knew this was happening.
Months ago we -- this fiscal -- was coming we knew this election was coming.
And this notion that -- China cooperate is almost laughable to many of us.
Well you know I have to join with you in that feeling as you know I'm a member of the gang of six now gang of eight.
Who have been working on a bipartisan basis now for over two years to try to bring a plan forward and we continue to build that plan I think it will be ready after the election.
But the fact that congress has become so dysfunctional.
So gridlock that we can't even agree on the most basic of issues is a real discouragement.
Right so where do we go from here and and start to what with all due respect there was -- meeting with the Fed Chairman Ben Bernanke.
You did not -- there's ensuing hearings meeting on capital gains that you're not at how do we expect to get things done -- our congressional leaders don't show up to these events.
Well we have multiple meetings at the same time for example the hearing that you just referenced I was actually the ranking member -- -- banking committee hearing on high frequency trading at the same time.
And so although we may be in different parts of the capital it doesn't mean we're not engaged.
-- -- maybe that's part of it.
Right there isn't really just focus on one thing as opposed to stretching you guys so then we're no one can make a decision.
I'm thinking of fiscal -- January 2 big deadline should be even main focus right now and with this election -- think anything's gonna happen doesn't.
Well you're absolutely right it should be the main focus and that's -- I've been working with my colleagues on both sides of the -- come back with a comprehensive plan.
One -- the literally not only avoid the fiscal cliff but -- on a pathway to avoid the debt crisis that is going to slam this country so hard if we don't take action.
And I you know I I and I share your frustration in fact sometimes I wonder whether there's any way we're gonna be able to get out of the gridlock here and move forward.
But I assure you there are plenty of us here we're working very hard to see if we can't build a bipartisan pathway forward.
So senator can you play this out -- because it.
We get sequestration -- the cuts and many are saying we're looking out of recession so what happens between now and January 2 them.
Well first of all you are correct in my opinion if congress does nothing and let -- go over the fiscal cliff.
I think we will be beyond a recession even facing maybe a depression depending on how serious the economic consequences are.
That being said as I've indicated between the election.
And that the first day of the next congress I think there's a true opportunity for us in many of us are are prepared to put forward a plan of action.
To take advantage of that opportunity.
To reform our tax code and actually develop the kind of spending restraints with enforceable budget mechanisms.
That will assure the markets and assure Americans that we are gonna get serious about fixing our debt crisis.
-- I know that you hear a lot of talk about that but the reality is that there are a lot of us working very hard to make sure.
That those kinds of options are on the table and that congress has the ability to take those steps between the election and the new year.
You're talking like getting something done in the lame duck session senate if that's chance you come back and we will dubbed you the miracle worker.
Senator -- OK I have thought entertainment times' Adam.