gerri: you take a lot of time to analyze what happens t this economif we go over the cliff. is it a big recession, it's a deep recession, what happens? >> it is a deep recession, you hear talk that it is a slow weakening. we can fix it in january and come back. we know the magnitude is large, $395 tax increase, $140 billion spending cuts. more importantly, financial marketwould be shocked at the failure to reach a deal and the fact the political system is so bad in the united states. that kind of confidence is not recovered. we saw it in 2008 i 2008 when te financial and market goes south. we cannot risk that at this point. gerri: you saw that this week, happens over and over again. i would say though it has not moved enough. because here's what is at stake. tax hikes are not income tax hikes, they are taxes on investment. the taxes are dramatic and will dramatically change how people think about investing but it does not seem to me like anybody is really thinking about it yet. >> i have been surprised at ho slow this has dawned on the market. now they seem more focused, but