| 00:00:00 | IF YOU COULD TAKE THE LAST COUPLE MINUTES OF THIS TIME TO TALK ABOUT HOW YOU SEE OUR RELATIVE POSITION WITH EUROPE AND OTHER PLACES, THE POLITICAL RISK OF OUR NOT ACCOMPLISHING WHAT WE NEED TO DO IN THE FISCAL SIDE? |
| 00:00:15 | AND THE UPSIDE IF WE COULD ACTUALLY COME TOGETHER IN A COMPREHENSIVE WAY TO ADDRESS THE LONG-TERM FISCAL CONDITION OF THE UNITED STATES? |
| 00:00:24 | >> IF YOU'RE ASKING ONE CITIZENS OF AND IN, I WILL BE HAPPY TO SHARE. |
| 00:00:30 | >> YES. >> EUROPE HAS SERIOUS ISSUES. |
| 00:00:33 | THERE IS A GOOD REASON FOR THE EUROPEAN UNION, FOR POLITICAL AND MONETARY UNION. |
| 00:00:38 | IT IS COMPLEX, 17 NATIONS AND MORE. |
| 00:00:42 | THE UNITED STATES HAS A SERIOUS ISSUE. |
| 00:00:46 | WE HAVE TO ACKNOWLEDGE THAT WE HAVE A SERIOUS PROBLEM. |
| 00:00:49 | WE HAVE SEVERAL. |
| 00:00:51 | THE FISCAL CLIFF, I WILL NOT GO THROUGH. |
| 00:00:53 | THE ONE THING TO KEEP IN MIND IS THAT IT MAY NOT WAIT UNTIL DECEMBER 31. |
| 00:00:58 | MARKETS AND BUSINESSES MAY START TAKING ACTIONS BEFORE THAT THAT COULD SLOW DOWN THE ECONOMY, WHICH WOULD BE A BAD THING. |
| 00:01:04 | I WOULD NOT BE OF THE MINE THAT IS OK TO WAIT UNTIL AFTER THE ELECTION, UNTIL MIDNIGHT DECEMBER 31. |
| 00:01:10 | I THINK IT WOULD BE BETTER TO DO SOMETHING NOW SO WE DO NOT CREATE ADDITIONAL UNCERTAINTY AMONG BUSINESSES AND CONSUMERS. |
| 00:01:17 | WE HAVE TO GET OUR FISCAL ACT IN ORDER. |
| 00:01:20 | I MEAN, IT WILL EITHER BE DONE FOR US OR WE DO IT OURSELVES. |
| 00:01:24 | THERE IS A ROAD MAP, WHICH I LIKE -- NOT EVERY PART, BUT IT IS CALLED SIMPSON-BOWLES. |
| 00:01:31 | IF WE HAD DONE SOMETHING REMOTELY LIKE SIMPSON-BOWLES, IN MY OPINION, YOU WOULD REDUCE UNCERTAINTY ABOUT TAXES. |
| 00:01:37 | YOU WOULD INCREASE CONFIDENCE AMONG OUR -- IN AMERICA. |
| 00:01:40 | YOU'D HAVE A REAL FIX OF THE LONG-TERM FISCAL PROBLEMS. |
| 00:01:44 | I THINK YOU WOULD HAVE A MORE EFFICIENT AND EFFECTIVE TAX SYSTEM THAT IS CONDUCIVE TO ECONOMIC GROWTH. |
| 00:01:49 | I WOULD URGE EVERYONE TO SUPPORT GETTING SOMETHING LIKE THAT DONE. |
| 00:01:55 | THE SPECIFICS, UNFORTUNATELY, NO PEOPLE ARGUE, BUT THEY ARE NOT AS IMPORTANT AS GETTING SOMETHING LIKE THAT DONE. |
| 00:02:00 | AND WE MISSED AN OPPORTUNITY TO DO IT. |
| 00:02:03 | I THINK IT HELPED CAUSE A LITTLE DOWNTURN LAST YEAR. |
| 00:02:07 | >> THANK YOU. >> SENATOR SHELBY HAS A BRIEF OBSERVATION TO MAKE. |
| 00:02:11 | >> DO YOU KNOW OF ANY BANK THAT HAS BEEN WELL-CAPITALIZED, |
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