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Former Treasury Deputy Secretary Robert Kimmitt on the negotiations to avoid the fiscal cliff.
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If they're still talking a deal must becoming -- after the president John data are unmet personally got to the White House today X.
Talk that fiscal -- just might be avoided after also great news right.
Not necessarily former bush 43 treasury deputy secretary Robert give -- two years of -- DO.
Could prove more worried than no deal -- -- senator.
Evening -- I think in politics.
As well as business leaders have to address both the urgent and the important.
The urgent is to avoid going over the fiscal cliff.
But that really is just a down payment on the important issue before us and that is -- a firmer fiscal foundation.
And then building on top of that policies it'll produce growth opportunity in jobs.
My concern is if we simply see a deal on taxes alone.
And cuts in discretionary spending that doesn't solve the problem now and it doesn't lay a good foundation for we need to do in the future.
I don't think that John Boehner -- the Republicans are well accepted deal that does not include.
Discretionary.
And entitlement spending -- cuts as well as addressing taxes I.
I don't know senator I think they're running around like chickens without their heads and now wonder that may -- equipment to forgive it is -- posts.
Tragedy environment where -- Discord -- a finger pointing or blame.
-- blaming is greeted -- and rightly so among Americans they're afraid they're gonna look even worse so I think.
On and you're the expert but as you know I've -- trouble playing ones even -- think they're just afraid.
All -- looking electorate dredges and or or just you and I know that.
You you could be attributed and Republican.
And and it's and it's it's a problem if your Democrat it -- in on spending.
It is not but I think it's the Republicans who risk buckling it.
Well I certainly hope that is in the case I think that as speaker Boehner.
By making the move -- -- on Friday with regard to tax rates for people learn more than a million dollars.
His willingness to put the debt limit that debate often tell late next year.
Has taken a very strong step in the president's direction but he gets I don't think they're not for that -- right nothing well krona.
Well I think there is general agreement on discretionary spending that might be -- the -- that in the next year put the normal budget and appropriations process.
I actually thought it was interesting to listen to your previous speaker that congressman seemed to indicate that he was open.
To changes in social security and Medicare.
Just so that those changes that is -- reductions didn't go to.
Tax cuts and I don't think anybody's arguing for that what we're talking about is making fundamental changes to those entitlement programs to keep them health.
They over the long term.
Gravity and a little even of all the rates rose -- it -- I irritated there's there's -- -- -- -- if he gets what he -- -- the rates -- -- he still wouldn't -- Well and I think that's why we have to be very careful in terms of what we do on the fiscal cliff decision.
That we don't undercut our ability.
Next year to come up with a solution.
That lays a firmer fiscal foundation.
That allows us to build on top of that policies for growth economic growth above 3%.
Jobs and opportunity otherwise were condemning ourselves.
To an aspiration -- 2% growth level that's a classic jobless recovery at 2% we can meet our obligations.
But we can't create jobs and opportunity we've got to get to 3% or higher.
Talk about something that would kick -- in the inspirational.
On secretary thank you -- remarks.
Could see here.
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