| 00:00:06 |
Haskins, Ronald - Senior Fellow
SENATOR PATTY MURRAY, A DEMOCRAT FROM WASHINGTON. SHE'S AT THE BROOKINGS INSTITUTION TALKING ABOUT THE SO-CALLED FISCAL CLIFF. THAT'S THAT LONG...
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| 00:01:39 |
Murray, Patty - U.S. Senator, [D] Washington
MUCH. WELL, RON, THANK YOU SO MUCH FOR THAT INTRODUCTION. I AM SO GLAD TO BE HERE TODAY TO DISCUSS THIS ISSUE WITH SO MANY OF YOU WHO HAVE BEEN WORKING...
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| 00:37:00 |
Q&A, -
IT. >> MY QUESTION, BASIC QUESTION IS, WOULDN'T IT MAKE THE NEGOTIATIONS A LOT EASIER, MAKE IT EASIER TO GET ON WITH GOING BIG AND THE GRAND BARGAIN IF...
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| 00:38:30 |
Murray, Patty - U.S. Senator, [D] Washington
BARGAIN? >> GOOD LUCK. >> FORTUNATELY WE'RE AT THE BROOKINGS INSTITUTE AND YOU HAVE A WONDERFUL PANEL OF EXPERTS WHO WILL COME AFTER ME WHO CAN PROBABLY...
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| 00:42:39 |
Haskins, Ronald - Senior Fellow
THANK YOU VERY MUCH FOR YOUR PATIENCE. NOW WE GET TO THE PART WHERE WE ASK QUESTIONS THAT ARE DIRECTLY PERTINENT TO WHAT THE SENATOR JUST GOT THROUGH...
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| 00:44:22 |
Frenzel, William Eldridge - U.S. Representative, [R] Minnesota
IT. WHAT WOULD BE THE CONSEQUENCES FOR THE ECONOMY AND FOR THE BUDGET DEBATE? BILL FRENZEL? >> WELL, I THINK PART OF HER SPEECH THAT IMPRESSED ME...
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| 00:45:40 |
Rivlin, Alice M. - Director
BIT. >> ALICE? >> I THINK IT'S A VERY BOLD MOVE ON THE PART OF THE SENATOR. WHEN YOU SAY, WILL IT WORK, IT'S A QUESTION OF WHAT "IT" IS. AS A NEGOTIATING...
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| 00:47:41 |
Gale, William G. - Co-Director
TACTIC. I DON'T THINK SHE'S JUSTIFYING SPOKE POKER, MAYBE SHE IS, BUT THERE'S MORE TO IT THAN THAT. THAT IS 90% OF THE REPUBLICANS IN CONGRESS HAVE...
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| 00:51:40 |
Greenstein, Robert - Founder and Executive Director
GIVING. >> BOB? >> I VERY MUCH AGREE WITH BILL. THIS REALLY IS MUCH MORE THAN NEGOTIATING TACTIC. AND I CAN SAY THAT. I WAS TELLING SENATOR MURRAY ...
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| 00:55:13 |
Haskins, Ronald - Senior Fellow
HERE. NEGOTIATING POINT THAT ALICE SAID AND NO ONE SAID IT EXPLICITLY. I WANT TO SEE IF YOU AGREE WITH THIS. IF WE WENT OFF, JANUARY, THE SITUATION...
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| 00:55:45 |
Greenstein, Robert - Founder and Executive Director
THEY'RE PRODUCING A TRILLION OR WHATEVER THEY HAVE TO. >> I THINK THAT'S A LITTLE TOO CANDID AND CUTE. AS SENATOR MURRAY SAID, I THINK THERE ARE SOME...
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| 00:56:49 |
Frenzel, William Eldridge - U.S. Representative, [R] Minnesota
JANUARY 1 IF THE BUSH TAX CUTS DISAPPEAR? >> I REALLY DON'T KNOW, RON. I LOOK ON THIS, ALICE SAYS THIS IS MUCH WORSE THAN THE REPUBLICANS THREATENING...
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| 00:58:18 |
Haskins, Ronald - Senior Fellow
THE COMMITTEES AT LEAST A YEAR, I WOULD SAY. >> SO FOR US TO DO THAT AND ASK YOU A YES OR NO QUESTION. >> POLITICIANS DON'T KNOW THOSE QUESTIONS....
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| 00:58:58 |
Frenzel, William Eldridge - U.S. Representative, [R] Minnesota
THAT WOULD BE A TRILLION OR SOME AMOUNT IN TAX INCREASES? >> AGAIN, I DON'T KNOW. IF I HAD TO GUESS, I WOULD SAY BOB IS ON THE RIGHT TRACK. THAT...
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| 00:59:31 |
Gale, William G. - Co-Director
BILL? >> I THINK YOUR QUESTION IS MISSING AN IMPORTANT ELEMENT OF THE DISCUSSION. THERE ARE TWO ASPECTS OF THE TAX DEBATE RIGHT NOW. ONE IS HOW MUCH...
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| 01:00:36 |
Frenzel, William Eldridge - U.S. Representative, [R] Minnesota
A SHORT TERM. YOU HAVE NOT RATCHETED DOWN IN THAT SCENARIO ANY OF THE COST DRIVERS IN THE LONG TERM. >> THAT'S RIGHT. SURE, IT'S NOT THE WHOLE SOLUTION,
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| 01:00:50 |
Rivlin, Alice M. - Director
NO QUESTION. >> I WANT TO SPEAK UP FOR THE GRAND BARGAIN. RATHER GOING OFF THE CLIFF IS A NEGOTIATING TACTING THAT RESULTS IN A DEAL IN DECEMBER OR A...
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| 01:02:05 |
Greenstein, Robert - Founder and Executive Director
SAYING WE WOULD MUCH RATHER THIS OCCUR IN NOVEMBER OR DECEMBER THAN JANUARY. IF WE GO INTO JANUARY, THE INCREASE IN THE TOP RATE TO 39.6% WE MAY, AND...
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| 01:04:08 |
Gale, William G. - Co-Director
SOMETHING. >> I WOULDN'T SAY DYING. >> YOU CAN SPEAK ANYWAY. >> THANK YOU. I THINK THERE IS AN ISSUE HERE THAT WE SHOULD KEEP IN MIND THAT WE HAVE HAD...
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| 01:06:04 |
Rivlin, Alice M. - Director
A LITTLE MORE OPTIMISTIC ABOUT TAX REFORM. THIS MAY BE A MOMENT WHERE WE DROP THE IMPEDIMENTS OF INCREMENTALISM IN TAX REFORM, WHICH IS FAILING, BECAUSE...
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| 01:07:51 |
Haskins, Ronald - Senior Fellow
STRATEGY BY DEMOCRATS. IT COULD BLOW UP. IT COULD REALLY PRODUCE SOME BIG PROBLEMS. ARE ANY OF YOU CONCERNED ABOUT THAT? >> I AM. EVEN RISKING NATIONAL...
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| 01:08:10 |
Frenzel, William Eldridge - U.S. Representative, [R] Minnesota
TO THAT, WHICH WAS HIGH RISK. >> BILL, GO AHEAD. >> I THINK THAT WAS A HIGH RISK. MAYBE A WORST RISK, BUT THIS IS A VERY HIGH RISK TOO. HIGH RISK...
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| 01:09:09 |
Gale, William G. - Co-Director
BILL IS NOT DYING TO SAY SOMETHING BUT HE CAN ANYWAY. >> IT'S A COMPETING RISK ISSUE, NOT A HIGH RISK. THE RISK, THEY HAVE SEEN THE RISK, THE DEMOCRATS...
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| 01:10:52 |
Greenstein, Robert - Founder and Executive Director
RISK. >> BOB? >> YOU HAVE TO ASK YOURSELF A QUESTION. WE DEFAULTED LAST AUGUST, MAYBE THREE OR FOUR WEEKS LATER COME UP WITH A PLAN. WOULD THAT HAVE...
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| 01:14:15 |
Rivlin, Alice M. - Director
THE THINGS YOU SAY. >> BUT IT WAS FAIRLY E LYLY ILUSTROUS. >> THE POINT IS DO SUCH PLANS EXIST AND SOME REPUBLICANS ARE FOR THEM. >> I DON'T THINK
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| 01:14:29 |
Greenstein, Robert - Founder and Executive Director
EITHER PARTY, I DON'T WANT TO SINGLE OUT REPUBLICANS, I DON'T THINK YOU COULD GET A MAJORITY OF EITHER PARTY ON THE HILL TO VOTE FOR THAT. I THINK...
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| 01:15:01 |
Gale, William G. - Co-Director
RAISE MORE REVENUE THAN BOWLES-SIMPSON WOULD GENERATE. A STRUCTURAL ISSUE, BUT IF YOU WANT TO DO IS GET -- >> ALL THE TAXES, NOT JUST THE HIGH INCOME...
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| 01:16:13 |
Frenzel, William Eldridge - U.S. Representative, [R] Minnesota
DOUBLE WHAMMY. STRATEGY MATTERS A LOT. >>. >> I REALLY HATE TO THINK WE ARE DRIVEN TO A TAX OFF A CLIFF, MAYBE -- CONGRESS AND THE PRESIDENT TO MOVE...
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| 01:18:23 |
Q&A, -
HERE. GO AHEAD. >> THANKS VERY MUCH. I'M GARRETT MITCHELL, I WRITE THE MITCHELL REPORT. I WANT TO ASK THIS GROUP OF ECONOMISTS INCLUDING THE DOCTOR,...
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| 01:19:44 |
Rivlin, Alice M. - Director
SWEEPS ARE NOT IN OUR INTEREST AT THIS MOMENT. I THINK THAT WE MUST HAVE A BIPARTISAN DEAL AND THE CHANCES OF GETTING ONE ARE GREATER EITHER WITH THE...
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| 01:20:11 |
Greenstein, Robert - Founder and Executive Director
SAID. GO AHEAD. >> YOU KNOW, I WAS THINKING ABOUT A HALF HOUR AGO THAT MAYBE WE SHOULD CLARIFY THAT FRANKLY MOST OF THIS DISCUSSION WE HAD IS BASED...
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| 01:22:24 |
Frenzel, William Eldridge - U.S. Representative, [R] Minnesota
HATE TO FIND MYSELF AGREEING WITH BOB, I THINK IT'S GOING TO TARNISH MY REPUTATION, BUT I THINK HE'S DEAD RIGHT. I THINK THAT TAXES AND ENTITLE ENTITLEMENTS...
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| 01:23:25 |
Gale, William G. - Co-Director
IS AN INTERESTING QUESTION, WHETHER A DIVIDED GOVERNMENT OR A UNIFIED GOVERNMENT IS MORE LIKELY TO REACH THE OUTCOME. AND THE ARGUMENT IN FAVOR OF...
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| 01:25:41 |
Greenstein, Robert - Founder and Executive Director
IN 2014, WHETHER THEY WOULD AGREE TO THAT? >> WELL, I THINK THERE'S TWO ASPECTS. FIRST OFF, THERE'S AN ISSUE FOR BOTH PARTIES. RIGHT? SO REPUBLICANS...
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| 01:28:40 |
Frenzel, William Eldridge - U.S. Representative, [R] Minnesota
SMILE BETTER. >> I HAVE NO IDEA. I JUST HOPE THAT THE REPUBLICANS WHO THINK IT'S A GOOD IDEA TO FUSS WITH THE DEBT CEILING WILL MATURE A BIT OVER...
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| 01:29:23 |
Greenstein, Robert - Founder and Executive Director
IF AND WHEN THERE IS AN INITIAL BIPARTISAN FRAMEWORK DEAL, WHETHER IT'S WHAT WE ALL HOPE BUT I DON'T THINK IS THAT LIKELY IN DECEMBER, WHETHER IT'S...
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| 01:30:36 |
Frenzel, William Eldridge - U.S. Representative, [R] Minnesota
IT. >> BOB F YOU DON'T WANT BOB TO HAVE THE LAST WORD, YOU BETTER SPEAK UP. >> BOB'S WORDS HAVE BEEN PRETTY GOOD TODAY. WAY ABOVE AVERAGE. >> WELL,...
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NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.