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Fiscal Cliff Realities

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    Former Sen. Sam Nunn, (D-Ga.), and former Sen. Bob Bennett, (R-Utah), on efforts to avoid the fiscal cliff.

  • Duration 7:12
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There's Sam Nunn joins us the former.

Democratic senate for the find state of Georgia we've also got Bob Bennett -- -- the former Republican you saw senator.

Both of these settlement -- of way of dealing with each other and speaking of appear at a time when -- could deal with each -- without throwing things -- each -- -- other -- as secretary -- was -- with -- earlier.

A time when when when gentlemen acted gentlemanly and made deals and each gave.

And -- talked senator Nunn.

They're not doing -- right now.

Well let's don't give up on the lame duck session and and certainly not all next year.

Agree with your analysis they've got work together I think they've either got to -- miles -- faced calamity and they know that but they don't act like.

Well -- I was encouraged by the tone yesterday of what the speaker says.

And I would like to see.

-- democratic.

Friends.

Make it clear that if revenues are included in some meaningful fashion.

That they will also put entitlements.

In the package.

And restrain the growth of entitlements we're not talking had offered that yes.

No they have not I don't worries me you know we're not -- -- the president take the lead on that and leadership they don't have to cut entitlements they have to -- the trajectory.

Exact -- -- you know I think candidate senator bitter disappointment to you and ivories.

We're not talking about.

Equating.

You know closing loopholes and end tax credits.

Some of the tea party of like in that -- Attacks are a kid and -- and that's positive verboten when it's not.

Others have looked on the on when it comes it is as reigning in entitlements -- to growth is a big senator -- went.

That's akin to throwing granny off the -- both -- you know but that's not.

But do you think gift to the election.

Cooler less crazy heads prevail.

Well the election has one very definite advantage it's settled things.

A lot of people were positioning before the election on the assumption.

If I take this position it will affect the election that way and that will benefit me or heard the other guy.

Well it's now over and you can take a position that's gonna help or hurt you or the other guy from now on your faced with the responsibility of governing.

So in this atmosphere where there's nothing political to gain at least in the short term.

By the kind of posturing that we saw prior to the election.

I think the chances of working something intelligent working out something intelligent is pretty good I don't understand the house very much because I've never served there.

But I can say within the senate.

Both Harry Reid and Mitch McConnell are friends of mine.

Both are very much dedicated to the institution.

And both are very good deal makers.

And I think then bonus at all is something enough right to most of all is somebody else had and everything yeah it is what do you gotta get from the president you've got to hear from the present here just read my -- -- and I'm not hearing and a senator -- Not that the prisons are free to -- courses is presence has been elected decides.

Go to Thailand later this month I'm not saying is on the -- gone to Taiwan.

You've got a ticking time bomb here.

I would have put off the true.

Well the president has to make the fiscal cliff and the long term.

Of sustainability of all fiscal policy is number one priority I don't -- -- I don't know but just got to be because it does not there's gonna hollering for the next four years and you will not.

Some of -- the -- civics and Republicans are saying maybe he wants this to happen.

Well I think that would be playing Russian roulette if you really want us to go over the cliff so you can improve your leverage -- -- I think what they're saying is everything explodes and then put -- pieces he won't slide I think present I think they -- -- -- speak we're negotiating in good -- back what about a year -- right right that should've gone through the president would have hoped would have -- some some bold proposal.

What I'd like to see -- you don't and they lame duck session and I would hope our Republican friends would join.

Is having a default position and are gonna solve all the problems in the next -- -- -- -- agreed to a basic plated.

Issues as we've got right now suicide pact -- not substitutes Simpson Bowles is a default position so that they get support five months next year.

To deal with the problem but if they don't deal with the problem.

It's not a a calamity for the -- -- senator Bennett.

It's a senator -- point why if they do so I guess because times -- see it they're not able to resolve all this is both of you find folks say then.

They do what separates -- I guess of everything for six months or so but if there is no proviso to senator -- point like they're going to.

-- come up with something constructive next year I would imagine the markets would tank on such a deal fearing that these guys are gonna bluster their way.

Through another.

-- Well there's another trigger point out there which unlike the one we face now all.

This is not easily postponed.

Police it wasn't the last time and that's the time when we get the debt ceiling.

Right that's gonna hit us.

Say march April something of that kind maybe even a little earlier.

So these conversations have to take place with the understanding that there's another conversation.

That will take place now I will say in the presence defense.

That when we have those conversations a year ago.

He put entitlements on the table at least in in terms of a comment.

And that's the first time in my life I've ever heard a democratic president.

Even mention the word entitlements.

Other than to say we must protect -- -- Are you read our that he didn't operates through citi's -- right he did -- that other real quickly you don't you don't know something about the old Ronald Reagan story you have to.

Better except 80% -- to -- -- -- -- -- but senator not.

Both sides have to be willing.

To to to -- off their base a little bit to what they are.

Not yet but I think they're gonna have to and I think they would about when midnight.

This gonna look to.

Bad before it looks good but I think they will just found solution one thing it it would be important if they did not think the president could lead this is.

Everybody's entitled of their own opinion when doctor own facts why would you get the Republican and democratic leaders together on television.

Don't talk about to -- talk about the problems so people will thoroughly understand the problem the -- they ought to be able to agree on the facts.

Period -- the American people well I think get behind those who are trying to work together.

Senator -- in the few seconds we have do you think.

That these guys can get -- the acrimony.

Yeah I'm an optimist and I think they probably can because I think the election did have the effect.

Of sobering both sides a little value left was scared of -- -- in the civil Obama's margin and the right.

Michelle Obama narrowly nearly lost and Allen west did.

I think pressure towards the center is one of the things we're right -- me on the show I think pressure towards the center building OK we'll say we.

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