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-- in that time -- -- what we had it.
Barely avoided going over this fiscal -- -- what is becoming increasingly clear is that the state America's economy -- remains -- -- really slippery political slope.
Especially heading into the upcoming debt ceiling so -- implications.
Joining us now former Clinton economic advisor Timothy -- in senior director of the bipartisan policy center Steve Bell.
Tim ominous start with you first I mean it out.
-- -- -- saying the Democrats won but how do you -- when we're being taxed more and more money is being pulled out of this ailing economy.
Well look first and I don't think -- -- beginning and end zone dance on those DO.
But I think -- you have to recognize that there was important progress made we -- avoid going over the fiscal -- and and that's obviously important not just for the economy it is here about our long term economy.
And I think you're saying that the markets recognize that now will say one thing on that's I think everybody recognizes that this is just step one.
What everybody's been talking about the economist and business leaders is that.
We really more of -- three to four trillion dollar deal here.
This is a 600 billion dollar -- so this is step one in the process and I think the president is not a president acknowledged that last night.
Are you happy with what happens Steve I mean it I guess what one could say we averted avoided the inevitable but at the same time.
We can't even get the one spending cut that people we're looking for the American people want to hear that the government's getting its act together and we didn't see that.
No I think this is extremely disappointing.
Yes you had to do it to avoid going off the cliff and raising taxes on so many people.
But -- as though you took someone and threatened to throw them off the top of out of a mountain.
And the last minute you said -- I didn't give me an award.
That's really what you're you're seeing here is that -- self imposed almost suicidal kind of thing on the part of congress and the president.
And now they want to and markets apparently are congratulating him.
With this great burst I've never understood markets like this because over long term.
The next year or two or three.
Our indebtedness gets much worse and are spending continues unabated.
Well that tend to Steve's point I think the market is is kind of exhaling that at least we got one thing done in the myriad of list of things that you have to do.
We're moving on to this debt ceiling now and -- two months is not a long time to be discussing this.
Especially because congress typically -- the last minute.
Yeah that's right I mean I think that again I think that's exactly right that point on the markets is that the markets are reacting positively today.
But let's have this conversation again and a week when everybody votes.
Has a chance to take a closer look at the DL.
And also reflects on -- fact that we are gonna spend the next eight weeks doing exactly we've been doing for the last eight weeks.
Which is negotiate you've been negotiating yet another deal so it's important progress but it's also something that that what will continue on and and that's certainly -- be frustrating for a lot of folks.
Sure is -- is that John -- leadership on the line here mean Chris -- certainly not happy with them.
Well in mr.
Christie to bless his soul doesn't have a vote how it is -- -- for John.
John Boehner I think mr.
Boehner will be reelected speaker tomorrow after the swearing in -- 113 congress.
Well one thing though that's -- very important going forward.
Let's say you cared about immigration or you want to talk about gun -- -- you wanna talk about infrastructure.
Thing -- like that.
We're not gonna do that for the next three -- much we're gonna have the same conversation.
That we just had for the last eighteen months which is.
Are we going to have the debt bill passed in time are we gonna have the government closed down because of appropriation bills are we gonna cut spending because the sequester.
So what we've done is compress.
And I think exacerbate.
The dysfunction is here in this town if -- if you think that playing with the fiscal cliff was a big deal.
I assure you if you talk anyone serious playing with the -- -- -- is really playing with -- four.
Timothy -- Steve Bell may be the 113.
Congress can do a better job when they get in on Thursday thank you both.
Thank you very much about the -- is pretty low.
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