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Nearing the Edge of the Fiscal Cliff

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  • Description

    The Daily Beast’s Kirsten Powers on the need to reach an agreement on the fiscal cliff.

  • Duration 4:19
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Chief Richard Trumka well remember what he visited -- -- -- in the White House right after his reelection about time he said America should tax the rich.

Promised spending cuts way down the road and ignore the national debt that was -- trumped up plan.

That is exactly the kind of deal that shaping up in Washington right now on the fiscal cliff.

Joining us custom -- president I say this is this is opinion.

I say this is a lousy.

Deal may be good politics but for the economy it's bad news so custom.

Moderate Democrats I know what you -- Should we take this -- lousy deal olds who we just go over the place what he's.

While I think going over the clip would be very bad just because it would it would send a message that I mean.

The truth honestly that we have a completely dysfunctional system.

Yeah and that and the markets would probably not react well one that you -- we may see a credit downgrade and so it's that that's not ideal situation.

That said I agree with you it is a lousy deal and the idea that they're just gonna sort of kick the can down.

The -- and have despray war can deal with it later which means we now they'll never deal -- that is a real problem.

My problem is that the that the administration in fact but nobody is really suggesting.

Concrete cops in and spoke with former should site to entitlement right it's entitled under -- busting Al budget wide open its entitlement programs that create this massive debt.

Nobody's gonna deal -- -- I know you're a moderate Democrats.

But you gotta admit the president under no circumstances.

Will attend the reform of entitlements period.

Well I think I actually don't know for sure that -- won't touch it but I would be inclined to say you're probably right and the reason I would say that is because.

If you talk to most liberals -- you are influencing the president.

They don't wanna touch they don't wanna touch Social Security they don't want to touch -- and Medicare they actually believe that it's not.

Can really contributing not much of the debt it's kind of an alternate reality in -- Where the president's coming from an of course.

You know most people don't wanna touch it because as bad politically there's not a big constituency of people frankly of voters who say cut my benefit.

So exactly I mean can you get elected in America today by saying no to people who want money can you -- I don't think you can't I really don't.

I yeah I think that's why it would take both parties coming together and basically they're jumping off this together and -- We're all gonna take that -- -- -- agree on this we're not gonna try to -- on the other party.

But instead what you see is both sides do it -- -- kind of try to hold back and and won't be very specific even John Boehner has really not been -- specific when he talks about cuts they claim they wanna cut entitlements but they're not that specific.

But give me a bit and I keep saying it.

You know what I'm gonna say he.

You -- I'm sure if you're saying you should know being towards the -- admit it is just common sense -- -- common sense isn't it.

Yes I don't we'll tell -- this is even.

A Democrat or Republican issue this is this common sense are you disappointed saying well are you disappoint with the Brothers you -- Well you know I think I'm getting -- him.

You know a chance in the new year -- yeah how big they claim they're setting up this framework where -- bargain deal with this in but it he doesn't.

Then that that is a -- problem that you cannot just keep letting this.

-- cannot talk about the deficit as you -- without talking about entitlements and frankly defense spending that is two thirds of our budget.

I I don't I don't believe that this president.

Will cut spending in any significant way I don't believe that this president will reform entitlements -- period no reform.

You agree well I hope -- I hope you rob could -- you talking to grieve reduction.

I don't know I I'm I -- I'm an optimist.

It fits well.

I'm gonna hold out hope that something is gonna be -- that there's not going to be.

It looked at me he's cut spending in different ways but it's always around the margins and and I think that -- -- to take on the big issues defense spending and entitlements.

You know I'm gonna remain hopeful.

I think that okay that's.

Good thing it's astonishing how much you and I actually agree on things of it is great to have you on the show we've always appreciated aspect because some push -- above break.

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