Also in this playlist...
This transcript is automatically generated
-- for us today we bring into a bar a favorites right now Doug shown former advisor to President Clinton -- -- -- a former congressman.
On the Republican side from New York the both here in studio with this so this idea.
Let's did the whole sky is falling.
We get past Friday and now there's long lines Peter says at the airports or maybe there's not.
How is this gonna backfire the president if -- You know.
I think -- the longer term Connell.
It probably will backfire the president because ultimately.
He is the chief executive he's held accountable the only reason I'm hesitating friends is the Republicans are in such rotten shape.
That that computer to you know.
Really the one eyed man that he's -- seeing in the land of the blind and and I -- use that analogy is I really think the Republicans are hopeless.
We have to -- what -- he responded at first either -- other Republicans are.
-- -- Hotel ovary is something they are like that sinkhole in Tampa we're just going down into nothing but they won't -- so than the president doesn't pay huge political price does what we've been trying to figure out is -- of what all the economic consequences be.
Of this -- sequester of these budget cuts stock market doesn't seem to care.
Now now what do they think there are real economic interest you know.
That there was something will be -- -- real people grow.
This is about one point 4% -- it's very very very tepid yup I was up by the what about a half a percent a quarter ver percent in the fourth quarter.
If this reduces.
Economic output and if we get some real world impact of the sequester.
Connell we could have some impact like we had in 2011 when markets were really roiled by the failure.
To achieve a grand bargain you think so I think we could yes.
Think the market would be more likely to be about the stock market financial markets that and in the event that would look what to have more likely.
To have an impact on the markets would be the next round of it when we're talking about things like shutting the government down over just not gonna happen is -- -- -- -- not gonna -- -- regarding that's right they called authorities said they're not gonna do that but certain things are happening to him talked about yet like.
The payroll tax coming back and -- has now lowered disposable income.
The new poll what do we have what -- was from Wall Street turn -- from last week that.
55% of people say their own economic situation is worse than it was an October so that's a very good point because you think about it -- they sequester conversation you're talking about.
Isolated areas of the country which will feeling worse.
And other areas for example Clinton places where there's a heavy military installation they're gonna -- worst maybe than some bus -- -- whatever the case but what -- talking about.
Especially with the payroll tax have a were few months in every a lot of people if.
A lot of people and and it's hitting low income consumers it's hit Wal-Mart.
Related stores' bottom -- I think -- -- whole bunch of factors swirling -- which in the longer term could well hurt the American economy and indeed present.
Then what happens is as their own personal economic situation deteriorate -- And there's mayhem and Washington which we're talking about all the time they conflict great detail and they say.
Is getting worse now because these clowns have screwed things up and then you have everything going together the congressman almost going SAT words -- -- Well -- I think -- meant Icahn's slate allies leading to conflagration.
-- -- -- against her but I'll leave that to others stuck Charlotte job -- -- so.
Filter by section