Can President and the House Agree to Terms on Fiscal Cliff?
FNC’s Juan Williams on the efforts to avoid an economic collapse.
- Duration 6:49
- Date Nov 9, 2012
FNC’s Juan Williams on the efforts to avoid an economic collapse.
Also in this playlist...
This transcript is automatically generated
This afternoon needs the president's gonna make its first public statement since reelection and you'd have to think that'll be the topic of discussion because it's a big topic in terms of the economy.
These tax increases spending cuts to go into effect at the end of the year we wanna bring Juan Williams -- Fox News out of Washington to talk a little bit more about this do we think we'll see.
A president one that's read Paul -- this morning and you know what's not make a deal as mr.
Krugman has suggested in this morning's New York Times or one that.
Is willing to give in on some some key issues and make a deal before the end of the year.
The rhetoric coming otherwise it has even this morning Connelly is that they want to make a deal.
David -- who's been that the kind of bare knuckles.
Political player in the White House over the last few months.
I said very clearly he thought that voters want a compromise that they're willing and able now politically to get a compromise -- without getting out.
Whiplash from democratic base constituencies but that does not mean.
I think that they're willing to give in.
To some of the demands being made by speaker Boehner who is yet to really indicate that he has any appetite for anything that -- increase tax rates he's still talking about.
Increases in revenues of only as a result of closing loopholes and -- and and eliminating deductions.
-- -- -- that said from the speaker of the house wine -- here by the way great to see how do you think -- compromise.
What would it compromise look like realistically.
Well I think it's gonna require political.
-- from both sides so.
Clearly they're going to be big cuts but the question is how much of a tax margin hike.
Do you put in -- what the -- has this that is for example on the bush tax cuts everybody over to fit these gonna have a tax hike.
You know Boehner and -- -- don't want that so there's gonna have to be some kind of deal what I'm hearing on the Republican side is clearly.
There in the market for anybody over a million paying more in taxes and so if -- Use those as a marker than 250 and a million you're looking at somewhere in the middle list -- where we probably get a deal.
Think in the middle I wonder what you I don't think -- toxins while many agree that would agree had a real chance to talk since Tuesday want to see what you've taken away from -- Stuart -- was in here.
Last hour and beyond next our in his own show but he was just this this point is that like -- we've -- more -- so much towards.
V almost like Europe that the takeaways that -- this American they're bunch of bunch of people just want things.
From the government and in my argument back with that it's it's that the elections much more on the margins and that's not 90101 way or the other now.
Now it's close in the popular vote I think it's much more tactical in terms that they they've been demographic shifts in key states that gave the advantage going in.
That the Democrats that the Republicans should have known about this all the data showed that before -- the polling is not just Nate Silver everybody this -- all the polling showed this.
And that's a close country but it shifted a little bit what was your take away from Tuesday.
I'm closer you -- you know this this to me this business about the 47%.
Is so insulting first of all.
The reality is that the people who are the so called takers as opposed the makers include a lot of seniors and guess what they voted for Mitt Romney if you look at the exit polls it's pretty strong people.
Over the age of 45 and especially.
People 65 plus we're Republican voters in this so are you gonna put -- gonna put the veterans in this category.
It it to me it's it's not really what this election was about America still is -- especially for the increasing number of immigrants.
A land of opportunity people are looking.
To have the opportunity to make it here I think people want this to be more of -- and -- as an opportunity society they wanted to try to close the growing class divide in the society that doesn't mean that they want this to become a socialist country.
And you know that's to me if it's this wave of immigrants Asians.
You know people from Latin America I don't think there are any different than the Irish the Italians the -- you know the eastern Europeans who came before -- One.
But we still have -- there I'm right on okay.
Is Washington looking at this now third day of stocks selling any such a message in the equities markets right -- even in the bond market people racing into treasury seeking cover.
Is this going to motivate Washington -- You know put their differences aside we've been talking about the dysfunction congress for years now is this a motivating factor the selloff we're seeing.
I've got to be you know I think it's a warning bell for everybody around here.
They're not listening very loudly but right you know everybody's is still trying to get over the election but.
The fact is that we had the CBO come out this we can say unless you make a deal you're gonna see a contraction in the US economy could take us in the wrong direction hike unemployment.
Back up plus 9% next year 2013.
Unless you guys get a deal watch.
Because the markets are looking at it and say oh my -- we're back to polarization dysfunction you guys don't get anything done.
You know in some quarters people say it's basically been.
A status quo election if that's the case we got the same players on the field who didn't get it done before and -- the credit market you know our -- our ratings that to go down so.
I think people are starting to slowly focused on is you're seeing a lot out.
Sort of early game playing going on here Paul Krugman -- telling the president don't make a deal don't compromise is part of that.
But I think -- started to get the sense people are really fed up with the status.
What do you think the president believes the middle -- I think it's interest thing out of what do you think he picks for treasury -- -- is and I asked is because I think they'll be a bit of a message and that.
Because of his own guy chief of staff at the White House Jack -- maybe it's a signal that.
There is gonna dig a little bit and if he goes for somebody like Erskine Bowles and -- Simpson Bowles and it's -- -- that -- -- wanna make a deal I don't know maybe that's reading into too much but do you think.
-- -- -- -- -- -- -- Sure I don't think there's any problem there but I think the word is that it's gonna be.
Jack Lew and but remember there's Jack -- is basically.
A guy who makes the trains on time he's not an ideologue but it by any measure.
He was put in that chief of staff spot after.
-- -- bill Daley had to go and that was again a political move that he wasn't seen as you know making the trains -- and that's what Jack -- and I think Jack -- understands the economic.
Urgency there's a real sense of urgency.
It is they don't show right now Connell.
But these guys especially the top players know right now they.
Given the CBO report this week they're playing with fire up that I'm literally -- can go a solid enough borrowing -- vice president Biden's where there but -- literally.
If -- gone and I'm not.
-- the -- back uterus and in debt that's what it would do and that's -- the CBO told you get this thing to get back to recession tables that restless.
I want always it's great see -- and out documented -- aren't even -- -- -- very good guys and they want to.