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This is this Imus in the morning.
On the -- the.
Good morning everyone the president has made it -- to house speaker John Boehner in their ongoing fiscal -- negotiations with just thirteen days left.
Before the automatic tax hikes and spending cuts are set to kick in.
President Obama is now proposing letting the bush era tax cuts expire for everyone earning at least 400000 dollars a year that's up from his initial threshold.
Dollars but below speaker Boehner is proposed one million dollar cut off.
In exchange for an agreement on tax rates the president is willing to agree to just over one point two trillion dollars in spending cuts.
Which would include changing the way of cost of living adjustments are made to social security and other social programs.
The president's offer also includes at one point two trillion dollars in increased revenue over ten years down from his previous proposal of one point four trillion.
A Republican source says both sides are getting closer to a deal but still have some significant differences.
Let's take a look at the markets despite those differences investors seem to be optimistic.
Over this potential deal US futures are up 39 for the Dow the S&P is up about four and a half points the -- up thirteen.
In Europe shares they're sort of searching for direction we're seeing London up nineteen.
Frankfurt up almost thirty points -- Paris -- to the downside.
By about two points let's take a look now at what's affecting those markets with -- Ingram market analyst at BDC partners in London.
Let -- talking last hour about how despite Greece's new bailout payment its problems are far from over -- -- -- an interesting point saying.
-- the Greek people still feel they shouldn't have to pay taxes so many just don't.
And many see this whole financial crisis as the government's problem not the country's problems so they don't really feel obligated to help they'll -- How crucial -- issue is that how do you fix it.
Well I think.
YouTube you previous guest made a very important point I mean this.
What you've had to Greece and and I can't have increased twenty years ago as as a sales person.
And I would won't be going to Greek companies.
-- going to the Central Bank to finance ministers also to spending some time -- -- talking -- people.
And what's happened over decades is that the that the public administration has been deeply dysfunctional.
There's a big question -- over whether they can actually administered and a lot of these you know simple structural reforms of the Greece's creditors are very -- -- I don't see that -- mentality.
And a lot of the Greek people locally.
But not everybody.
A -- that the state is always -- kind of -- their bail amount of of of bad decisions so yeah I think -- -- -- Very serious issues there.
On the ground that you know that they gonna have to contend with increases them to dig itself out of this hole.
So how do you combat that -- -- you combat.
A -- people who expect the government to do so much for them but then don't want to pay for any of those services I mean it's it's obvious that economically that doesn't work.
I I think it's very very difficult because it's a generational issue and and -- this is not something which is just happened in the last.
You know 23.
Here is this is happened been happening for 2030 years even people.
Greece went to viewers of some botulism easy -- of that yet because the story that what my colleagues so what like contacts in Athens told me he said that everything is getting these tax bills at the moment.
-- for back taxes maybe you know 23 as well this is retrospective so -- even if they would avoiding tax that vehicle builds.
I think -- -- -- -- facts and that the people the deal behind the kind of -- while you bothering while evolving to pay your taxes nobody else's so that's kind of pretty deep.
An institutional issue that you having to get over us and there's no easy unfettered CDs the odds of this and it is very deeply suspicious as well a what Germany's -- unit at genders.
On physical good perspective on -- things -- going and it's my AM FB GC partner's -- great talking my thanks.
Secularism breaking news for you now Neil Finn is to acquire -- -- Nielsen holdings is making that purchase for 48 dollars per share.
In cash and as usual give you more details on that deal as we get -- in now in the meantime cerberus capital says it will immediately begin selling its stake.
And gunmaker freedom group after Friday's mass shooting -- sandy -- elementary school in Connecticut.
Service acquired firearms maker bushmaster in 2006 and later merged it with other gun companies to create freedom group.
But -- -- -- the manufacture of the AR fifteen rifle used by the shooter.
In those Connecticut killings now pressure mounted on servers after the California State teachers retirement system.
Which had invested over 750 million dollars with the firm as of march said yesterday it was reviewing its investment.
In the wake of this shooting.
A -- a look at act commodities now is an oil and gold to the upside this morning -- up by little more than fifty cents trading at 88 dollars a barrel.
-- up -- little more than a dollar at 1699 announced.
Coming up this -- Imus -- guest will be Tom Friedman of the New York Times and now here's -- -- -- live on Fox Business.
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