Fox Business
Expand
Browse All Video
Watch Live

You're watching...

Obama Wants to Go Over Cliff?

Details

  • Description

    Former Clinton advisor Doug Schoen argues there's very good odds of going over the fiscal cliff.

  • Duration 4:31
  • Date

Clips

Also in this playlist...

Latest Video

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

Joining us Doug -- -- -- Clinton advisor.

I man who knows politics inside now -- well when the program thank -- still unaffordable for -- this place December 27 next Thursday the senate get back into session.

It is possible that Harry Reid puts on a motion on the floor saying okay here's -- solution will raise taxes on everybody over 250 K.

Puts it to a vote it is possible that the ball is that in Mitch McConnell school leading Republican he could say could he say yes and the motion passes.

It is possible we could say yes.

It's also possible that if he says no.

That to once again the Republicans will be.

Right where they are now looking intransigent and that if and -- -- happens about bill if it then goes to the house house Republicans will probably say no based on the vote yesterday I think that that's right.

And once again Republicans are in a difficult position so once again the all of cliff diving go right -- with a tall.

All very strong at this point I felt that for a long time I think you're absolutely right Stuart I would posit that President Obama.

May well want to go over the cliff while he gets tax increases.

And he gets entitlement cuts the spending cuts and he gets the military cuts.

And cuts in military spending and -- want it and any and he blames the Republicans precisely.

Yeah yeah but you know unemployment.

Insurance runs out people who might think they're getting a check from their taxes actually -- -- -- -- AMT.

So all of that you think you get 500 -- get a noticing -- -- always three grand right it would be a put you know you've you've sent in transit I mean 34 times I don't think there's certain Republicans who care.

They they have they have a philosophy that they believe then and if the Democrats are saying listen we won the PR war.

-- only that's a pyrrhic victory for them.

What could be a pyrrhic victory in Stuart I heard from what you said before but bottom line politics plays on a day to day basis.

And even if what you're describing happens Charles the Democrats and President Obama are the huge winners.

I just have to ask you this what happened last that was pretty stunning gap Boehner could not to let yes and we've known about this gives him in the party for a long -- time.

Does this mean there is no Republican Party.

It means that the Republican Party as it is currently existed.

Is that the very least in transition if not decline speaker Boehner is position.

Is problematic let's be clear over the long tunnel which side of the Republican Party wins the pragmatic side which says make a deal.

The other side petite body -- perhaps -- says.

Under no circumstances will we raise taxes on anybody Stewart the trend in American politics has been for the Tea Party.

Intransigence side to become more and more powerful they're gonna -- you don't approve of that I don't I mean and you're a Democrat but you don't centrist who believes that consensus the type that Charles Jerry and I think -- -- ultimately feel is important.

For America but a consensus opinion -- a consensus compromise between the president and the Republicans will be a lousy deal for the economy.

It will be a political victory for President Obama the very bad for the US to -- I think if we got some revenue increases.

Cuts in entitlements cuts in spending pruning back defense spending that would be a net winner for the economy -- we part company there.

Notes and that's the look we took a look at both plants both the Democrats and and the Republicans plan what is the ultimate impact on the debt.

The same 21 trillion dollars and ten years there is no impact this is small potatoes.

On both side brought offers the best chance for growth solid growth in the year 2013.

The role Simpson play on either and neither plant up and that's where -- which would reduce debt would give us an economic growth.

And sadly was rejected by both parties and we need so let's conclude this you'd think as I -- that the chances of going over the cliff are greatly enhanced from what speak about and I have to say this morning a what he did last night I absolutely -- -- -- Ducks don't always budget thanks for -- thank you are gonna get quickly to breaking news that would -- -- this was not a secret sources now reporting that Senator John Kerry.

Will be the nominee for secretary of state.

Replacing Hillary Clinton in the second Obama term don't you still here are there any response on -- this is a good move for the present because he is confirmable.

And if you had Chuck Hagel at defense.

You have the the -- bipartisanship.

When the president will have to affect of loyalists who will speed through senate confirmation you think Hillary Clinton can run in 2060 I think she can run I think there are some questions now.

With Libya obviously -- health.

I suspect she'll get through both.

I think shall be the candidate -- she went I think his is -- chances at the smoke and look at diplomats are still a Democrat Doug -- -- really appreciate it take a.

Load More