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That -- President Obama's first off on the fiscal cliff includes a one point six trillion dollars in higher taxes yes new spending and that.
New power law over the debt ceiling.
The -- was delivered to Republicans -- -- got that who's had tax problems of zone in the past and today President Obama is in Pennsylvania.
At a toy factory campaigning for tax increases on the rich.
Joining us -- Democrat strategist Judea and against the -- allowing congress I can't believe.
That you would -- regular America.
Really wants to do this to America well do you.
I think this is complete -- And I don't think this is exactly what's gonna happen I think the president knows.
So happens that you don't think the president well actually I think I don't know I think this isn't it I think the president's learn to negotiate with the president used to do is he would start sort of with half a loaf.
And then -- negotiate and give the Republicans Bethany are percent of what they want it I think he finally understood.
That if you want -- actually gets at least half way you've got started extremes Republicans have done assault on any halfway.
So you do agree with me that.
That if this plan know anything like it from the prospect were imposed on this economy at this time.
It would lead to recession I don't well I'm -- I said I think this I think the president is fully aware as are Democrats -- anybody who's really didn't look like an economic judgment for Apollo to recite.
-- -- -- -- I know I am not a fan by the way -- ever have been I thought this fiscal clippings ridiculous from beginning to pick out but let me let premise that you rubbing my -- -- it was higher taxes of this magnitude.
On an economy that's already weak with 8% unemployment you do that I.
And you know would not happen and no I do not believe that raising the marginal tax rates -- the Clinton rates for the wealthiest among us Italy and really just say that because that.
You -- comparing a totally different economy from what we've got now what we have now.
He's 8% unemployment very sluggish growth -- trillion dollar deficit and -- yeah.
You propose to raise temples and back in -- action would not don't she looks -- to understand that you need to offset if you're really serious about debt reduction and I think you are.
Don't understand you need revenue -- Dallas spending cut yes but what else agree on how -- -- -- yes I'll tell you it's sleazy very messy.
You lower tax rates so you keep incentive to walk -- and picked up right now aren't you count -- When George Bush tried that look at the deficit that we have you can't -- -- -- a -- -- -- -- re right economic history you are after George Bush lower tax rates -- to the -- -- the return to the treasury the money coming into the treasury went way off and the deficit by the way in 2007.
Billion dollars so President Obama would handle a 167 billion involves just about.
Don't we like economic history -- not -- economics -- well I am not because I -- actually part of a if you lower tax rates you get more revenue while I'm sorry I didn't I think history has shown whether it's Ron Reagan George shed -- Ronald Reagan Ronald -- W bush that the attacks we're telling me how to read it and what to tell -- that Ron -- not -- the deficit.
Increased revenues to the -- telling me what that accelerated yeah I think his problem -- you know era tax rates you get.
More revenue -- that is the lesson of economic history -- I'm -- eagle -- lesson of the Reagan years and the bush years no lower note rate you you have definitely not quite sure how true it is factually true.
That when you -- -- -- Reagan did -- dramatic lowering of rights.
That book the revenue into the treasury doubled it by give you that -- yeah yeah.
Segolene that the deficits it was congressional spending that that has been as he -- -- so -- -- about the original argument.
If you now right now lower tax rates you would increase revenue at the treasury you in January and a economic what you and I disagree and that because I know my history and I -- picking -- Iraq do you think that by imposing higher tax rate on a massive tax and unannounced but not every tell me how you cannot not everyone not -- tell me how you all you're going to get growth would you can raise taxes by 1000000000006.
Integrity -- so I think a deficit reduction talking about spending growth and about growth growth and yet -- -- talking wrote that the combination of things of course it's a combination of things a -- matter of -- I I believe that you have a bigger stimulus.
For example do you believe.
That if we put this plan the president's plan into practice now I don't think a president's plan -- -- 5% growth I do not believe on the Iraq.
I don't think the -- asset -- of us who they want to thank the flexibility -- If we raise taxes like that last half of this -- you raise taxes.
Do you think that we would get 45% growth in the next -- used to they would get it -- do you fear.
And of course I'm answering your question if you let me actually traffic is my special knowledge it is not a yes or no question is that -- -- I don't know what the offset would be in be spending -- -- they're talking about I don't know what the sport to billion dollars.
In spending cuts is it has not been delineate as of asking to rule on a -- of.
Out of object so let that -- a different subjects also in the president's plan no more debt ceiling.
They can borrow was up just -- lives we think will be the result.
Well I would love to have an agreement among all parties congressional Republicans as well as Barack Obama and a four admit -- become president -- -- for the same thing.
Let's not hold the debt ceiling hostage because the last and we -- -- events of the the last yes absolutely I would.
Are not just unleashed borrowing.
-- I think we get off that ceiling.
I'd you allow the president to spend what he wants a baffle borrow let's talk about your friend Ron Reagan again I think it was eighteen times that -- raise the debt ceiling -- So -- on and nobody held hostage the full faith and credit it's a -- -- -- do that now know that I know limit there's no debt ceiling.
All I and its own president of -- -- -- just you can just -- no authority from congress what.
Borrow what I would look at what happened what I would love to see some responsibility behalf of our congressional leaders this data are anonymous -- crisis you know if you look at the debt crisis well you got the credit debt prices have been -- bond vigilantes even threatening employment for the past five years and I haven't seen it yet okay.
We'll -- -- it's unfortunate.
We're out of time -- I don't thank you and I love being on the view this by the fact whenever we need to really I literally -- highlight of my day was today was waking up -- announcement wouldn't I don't believe him enough either prefectural do it utterly true all right.
The Julie thank you very much indeed I'm out of time.
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