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Goolsbee on Obama Victory

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    Former Obama economic advisor Austan Goolsbee on the re-election victory by President Obama.

  • Duration 3:16
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President and Austin.

Surprise yeah.

I'm not that surprised.

You know -- I think -- this had to decide would did you believe the state polls going into it or where the state -- messed up.

And I think this as the night got a lot of -- got to show it maybe the state polls were right as as they were proceeding.

Yeah well you know you might be right about that part of the state -- by and large have been born out every state.

That Barack Obama was expected to win he did win every state to Mitt Romney was expected to win.

He did when I Anderson Missouri is the only one that might might accomplished either way.

What now also what eating habits that would his fiscal -- approaching everything's going to be constantly you're gonna still have.

-- democratic president you're gonna happen a democratic senate you'll have a Republican House.

And what happens now concerns of negotiating a deal before the year is out.

You know I'm not sure and I think it matters a lot you know if you go look at -- Congressional Budget Office forecast that says if Washington can't sort out a deal.

We go over the cliff and a recession into a third day.

So I think the pressure will be on but I'm not sure because it's really the same people who were -- last summer for the big bite.

I don't know what that dynamic whether it will change I do think donated 2013.

I think that if this is state mandate for any thing this this election it's more of a mandate for a kind of -- centrism.

As opposed to what a debtor to audio -- where they were cut -- -- clear agenda of one party or the other what they -- gonna try to build.

In which case you know maybe there's a decent chance of a grand bargain at -- thirteenth but over the next.

Well it was credit and that's what I as well hello it's up expires.

So I think it's a big -- will do today today.

Table -- for six months to year or or or or or I don't know president deal look -- one.

There are consequences for that regardless -- that -- -- one.

Do my bidding.

I think the president does what but my impression is that the president.

Ran all on the platform and that is gonna let die -- tax cuts expire that we could -- Ford.

To continue those tax cuts that we needed to apply the money to a grand bargain to try to get the deficit down.

So I think part of his argument will be look we had an election about this issue and I won that election admit to it in fairness.

It Mitt Romney had -- you heard -- Spiegel saying this week.

They said how could you say you're gonna be bipartisan if you say on day -- you're gonna repeal obamacare.

And they said well look elections have consequences.

So.

So that's partly why -- say.

I think it's gonna of that next greatest six -- I think we're gonna see a lot of this playing out boldest -- to determine -- goes I do think many of the business conservatives.

The folks that have signed up -- fix the -- at both parties.

I think they are in the mind set -- Bowles Simpson.

And that if there is some revenue that's coupled with some real entitlement reforms.

I think they -- before that so I think you could see got about building a book colon.

Martin let it delayed backbone -- and Nowak wanted to.

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