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Former House Speaker Dennis Hastert, (R-Ill.) and former Rep. Dick Gephardt, (D-Mo.) on efforts to reach a deal to avoid the fiscal cliff.
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This you know one each side calls on their respective -- guards and you have to to -- -- disaster the former speaker.
And Dick Gephardt of course the former leader of the Democrats in the house went on -- run for president debt.
They are highly thought of might not only their own troops.
But -- successors and the other side.
Which it simply makes these suspicious of both of these gentlemen.
Kidding of course but.
Mr.
Gephardt -- you first.
The devil as you always remind me is in the -- come up with and then even abroad blueprint of a deal.
Holds the extreme members of each party.
Are vowing not to stick to that -- not to do that deal.
And that and that and they're telling you the Democrats -- telling the president -- on this election you don't have to concede that thing.
The American people elected you they elected your tax hikes they didn't elect you going after entitlements so don't do that.
What he said.
The -- the Republicans control the House of Representatives.
Whatever you do has to go through the House of Representatives.
So you've got to get a compromise you're gonna have to get about half the votes from each party in both houses.
And trust me.
That's going to be hard to do especially when you get to the big deal next year.
Getting the votes will be hard to do no matter what anybody tells -- members do now want to vote for this stuff its political poison.
And it's gonna take everybody working hard together to get the votes to get it done.
Well you know we have seen -- this figures pointed it has been done it's it's hard to do but as a dot.
But speaker sometimes you you suffer for doing that right Democrats went along with what Bill Clinton wanted to do.
It ID nine.
Many suffered for that bomb was lost their jobs that was ultimately done -- gore cast the deciding vote of memory serves me right.
On bottom vetted it took out a lot of folks along the way do you think that among the folks who could take out of the Republican side it's.
Economic I mean look at that anytime you cast a vote you're vulnerable and and his defense and how you can go back on and explain that -- I think -- it be up this this is not about.
Trying to raise taxes on people that create jobs or should be about taken Social Security away from old people.
It's -- get this economy going to get.
That's the big picture and let's look at the things that we began to spur the economy to grow this economy so that we aren't in the doldrums that we don't have the the shortfall in revenue.
That's what the big pictures about I think that's what mister Gephardt buyer tax credit -- what we can spur this economy -- get a gonna get but it does that.
But try to beat up and -- -- -- and I know but I'm telling you speaker your successor could lose his job.
Ramming this down their -- anybody that is possible -- that's -- risk we -- -- -- -- business now.
My biggest risk is dismaying sure there are no.
Big words in the prompter but I understand your -- a upon congress and finally let's say we get a deal done.
Let's say just of the stroke of midnight whatever.
But let's in the market sells off on -- because it doesn't believe the words printed on the paper that they're not real and it's not a real deal.
So an -- case isn't a bad deal worse than no deal.
Well they've got to get a deal because if you go over the cliff thing you really do have problems in the market and problems in the economy.
I know little about but you ought to be generally -- -- right let's say it.
We've we've got a spread -- -- at some together right and then -- did system DC you know why.
Well if it's really not at all credible and the market still believe it then they'll be a reaction and then the congress will have to get back in town and deal with that -- -- did with the TARP funding few years ago.
But you know you raise a good example there congress in the -- Hart debacle -- remembered correctly -- speaker.
The first onto the TARP vote was rejected and -- President Bush to to provide this the backup -- it's -- banks.
It was.
It it was shot down.
The markets tumbled 777 points so they quickly reconvened -- tried to -- of the gathered to avoid that.
To save another market debacle when you know a few months later we were down an additional 4000.
Points so is there -- risks.
Suggests.
Playing to the markets and making sure -- trying to make sure they're happy with whatever you guys do.
Look at the markets are the economy the bigger picture.
I just not the markets people want certainty they -- certainty that tax code.
They want a certainty where this government's gonna go down the road.
And you have to have agreements to make sure that certainly happens -- fortunately when we pass those tax cuts that bush tax cuts.
Now that there there there -- -- -- -- -- for five years at a time because the senate rules but -- That that deprives us of certainly people want certainly they want to make sure that things are gonna be there and are gonna be there so they can invest.
Not just -- tomorrow or three weeks from our -- from our two years from now but for a long period of time.
Do you think they're gonna get that certain -- congress.
I I -- so I do.
Is -- such -- thing -- one side winning in this city of tabloids so that the art of a good deal gentlemen is that each side.
You know chase a bit at -- congress again argue -- if it's going to be chasing more.
No I I think the art of compromise leads you to deals work every body at the end is dissatisfied.
And somewhat angry if not completely angry.
That's the sign of a good compromise its.
Not what you wanted you have -- swallow a lot of stuff you didn't want that you do it.
To get the economy going in to help this country be as strong as it should be.
Speaker -- and Grover Norquist is one of those says you know you you did sign -- pledge.
And I'm remembering you Republicans who disavow that lives and go ahead and raise taxes what he said.
But I.
I'm -- good friend of mine have worked for the body years but he also did hedge and ethanol a few other things so you know sometimes a pledge is not a pledges pledge.
But really whether the serious thing about this as if somebody affording -- -- -- done.
It is the out you have to you have to -- give up something to get some victory.
And people have to be graciousness.
The gracious enough to accept that victory -- line.
-- -- -- -- -- -- -- that's equality that.
Could you both sides a lot of good.
Whether you're leading in a deal or not.
Gentlemen you are that -- that some thank you very very much and and we tried together pleasure to save the nation you are now -- superheroes in that regard.
Sure that meets today -- Sears is element thank you very very much when we come to.
