jared bernstein, did you put him up to that? actually, i'm going to take credit for it, jared. >> i very much like where you're going today with your common sense. look, i just heard dick armey talk about increased revenues. i heard john boehner talk about that earlier today. certainly the president has consistently stressed that point. look, i feel like there is a pinprick of light here, and i know we can argue about how get there, whether it's broader base, higher rates, and clearly the president is on a different side than you guys. but that ought to be something we can sit down at the table and hammer out. >> steve moore, let me go to you on this. first of all, get your take on what president obama said. very interesting he said that. second of all you've got speaker john boehner being very conciliatory. but third of all, steve, i still don't hear anybody talking about cutting spending. i never hear about spending cuts. what's your take? >> i like the idea of the fiscal cliff. i think we should do the sequester. but i think

jared laughner opened fire outside of a grocery store.rizona representative ron barber one of the survivors also addressed jared laughner. >> i hold you hold no hatred for you but i am very, very angry and sick as heart about what you did and the hurt you have imposed on all of us. >> reporter: eight other victims spoke at today's sentencing. jared laughner punishment includes seven consecutive life terms plus 140 years. >>> the second man to be charged with vandalizing a muni bus during a world series celebration pled not guilty in court. nicholas hudson was charged with willful tampering with a passenger transit vehicle. hudson is accused of being part of a group that torched and vandalized that transit bus. the judge ordered that hudson be held without bail because he is already on probation. police released this photo of a man they're still looking for. >>> oakland police have released a sketch of a man they say tried to kidnap a 14-year- old girl this week. here's a look that the composite drawing. police describe the truck as a newe

thank you, jared. thank you, diana.et's get to bertha coombs with a market flash update. >> kayak shares have reopened for trading. the very recently listed ipo. they went public just last july 20th. a company agreeing to be bought out by priceline for $1.8 billion. that amounts to $40 a share. shares opened just above that. interesting, they were also reporting their earnings this afternoon. they don't have a conference call, but one of the reasons priceline may like them, they are growing very quickly when it comes to mobile. they process 56 million queries on mobile. that's up 87% from a year ago. the revenues they got from mobile grew 63% from a year ago. >> all right, bertha. thank you so much. >>> marc dreier may not be the household name that bernie madoff was, but maybe it should be. >> i had over $100 million in the bank. could have stayed in dubai. i was a little distracted by that while i was having meetings all day with prospective clients knowing that i was likely to be arrested when i returned to new york.

let's put it right on table since jared opened up. many people believe since the president's budget want $1.6 trillion -- $1.6 trillion, of revenues, over ten years. >> over the next ten years, to be clear. >> next ten years. he will wish to raise the top tax rates. that includes income taxes, cap gains, dividends and estate taxes. and art laffer, he will also wish to curb deductions so he will raise tax revenues as well as tax rates and art, that sets the stage for a stalemate politically. what does it do economically also? >> well, it does set the stage politically. by not doing anything, all the tax rates go up on everyone. that's for sure. so, the question is, the republicans will pass a bill that extends all the tax cuts. i mean, that they will go along with no problem. they won't go along with a double wammy and they shouldn't. this is obama's economy. this is obama's issue. if obama wants it pass that in the house, he has it find a group of republicans that will peel off from the rest of the republicans and good along with the

he went to jared. the ballet slippers? i used to dance. hearts? called the red hot love bead... oh. ...i've said too much. [ female announcer ] celebrate life's unforgettable moments with pandora charms and bracelets at jared, the galleria of jewelry. >>> well, it is that time. we're going to check "the pulse," stories you're going to be talking about on this fabulous friday. starting with a sobering announcement from "dancing with the stars" co-host brooke burke charvet. >> the mother of four posted a video on youtube, telling fans she has been diagnosed with thyroid cancer. burke will undergo surgery that will leave a scar across her neck. the doctors said it was a good type of cancer to get. highly treatable. highly curable. we're sending her best wishes and warm thoughts this morning, for sure. >>> also, there was a new controversy brewing in the nfl. not on the field, though. but in the delivery room. it turns out, more nfl players are saying, if they have a baby due, they'll miss a game rather than miss the birth. >> now, the bears charles t

bush, jared bernstein and wilbur ross.ee weeks like he says does that make sense to you? >> the encouraging positive news is we can retroactively apply an entitlement reform package apply beginning january 1 where the day after the budget control act takes place we can mitigate the effect of falling off the cliff or the slope or however we want to characterize it, but as we were discussing before, that's not the ultimate ideal situation. >> who has more leverage after january 1st? >> a lot of the polling data indicates republicans would be blamed but i think great leadership puts aside polling data and realizes we have divided government, that we need to get together, find consensus and close deals. >> i think i know how you'd answer that question. who do you think has more leverage? >> i don't think anybody has the leverage, because it will be political suicide for everyone i think to go off the cliff. >> what happens to the market on january 2nd? >> it goes down. >> how much? there's still the perception we'll get a deal

i think jared would probably agree with that.t's also an experiment that was tried in europe and it failed. what we need to be focusing on is -- we don't necessarily have to stick to the numbers in the august 2011 deal. >> going back to jared for a moment, the projections on growth are only around 2.3%. >> right. >> and we know that's not going to produce the kind of increase in revenues that people are looking for. >> right. but what julian is saying is our focus right now ought to be on economic growth and jobs, and i very much agree with that. at the same time we are headed for this fiscal cliff and we need to do something to resolve that. we have an opportunity here to lock in responsible fiscal policy over the next few years. i think we should be able to do both. >> ken, we're told that the president is meeting today with the head of mitt romney's favorite organization, the magnificent chamber of commerce which as we know produced some marvelous surveys that appeared to support him. he spoke with speaker boehner and harry re

jared laughner opened fire outside of a grocery store.ona representative ron barber one of the survivors also addressed jared laughner. >> i hold you hold no hatred for you but i am very, very angry and sick as heart about what you did and the hurt you have imposed on all of us. >> reporter: eight other victims spoke at today's sentencing. jared laughner punishment includes seven consecutive life terms plus 140 years. >>> the second man to be charged with vandalizing a muni bus during a world series celebration pled not guilty in court. nicholas hudson was charged with willful tampering with a passenger transit vehicle. hudson is accused of being part of a group that torched and vandalized that transit bus. the judge ordered that hudson be held without bail because he is already on probation. police released this photo of a man they're still looking for. >>> oakland police have released a sketch of a man they say tried to kidnap a 14-year- old girl this week. here's a look that the composite drawing. police describe the truck as a newer m

as jared says, it's a fiscal slope, it is not a cliff. if we let the tax cuts expire, they expire.ats come back in the early next year with middle class tax cut and restore the tax cuts for the middle class only. they leave that top 2% with their taxes up. that's smart politics. i think -- >> what about economically? >> i don't -- >> i want him to follow up on that, what you think would happen if joan's scenario played out. >> come on, jared. >> i think if it were clear to markets and clear to employers and all the other economic actors out there that a deal like joan described was in the offing, i think we would basically be fine. listen, the leverage is really important. joan has a point. the idea that income tax rates have to expire on the top 2% of households makes a ton of sense and a very important development here. it's bad for grover norquist but good for america and should be the end of asymmetrical tax policies where rates only go down, they never go up. that said, look, there may need to be some entitlements on the table. the president has already done so in his 2013 bud

they turned to face jared loughner and looked him in the eye.ared loughner's mother was in the courtroom sobbing. >>> man suspected of killing a schoolteacher is in court in richmond. darnell keith washington is facing robbery, burglary and carjacking. he and his wife murdered 55-year-old susie ko at her home last month and stole her car. the wife still faces extra from washington state where the couple were arrested following a crime spree. >>> marin county d.a.'s office has decline to file charges immediately against three daycare workers arrested for the death of a baby in their care. right now the center is closed. autopsy shows the four-month-old accidentally suffocated after bedding cut off the child's airway. the d.a.'s office says it needs more time to review the case. >>> protesters demonstrating at the grand opening of a chick-fil-a restaurant in walnut creek the group says it is against the company's donations to anti-gay organizations and for the public anti-gay stance the founder took this summer. the demonstration didn't stop dozen

joy reid, ari melber, jared bernstein, i wish we had more time.hank you all. >>> neck, proof that john mccain may be the biggest hypocrite in washington, and in that town, that is saying something. stay with us. i'm only in my 60's... i've got a nice long life ahead. big plans. so when i found out medicare doesn't pay all my medical expenses, i got a medicare supplement insurance plan. [ male announcer ] if you're eligible for medicare, you may know it only covers about 80% of your part b medical expenses. the rest is up to you. call and find out about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, it could save you thousands in out-of-pocket costs. call now to request your free decision guide. i've been with my doctor for 12 years. now i know i'll be able to stick with him. you'll be able to visit any doctor or hospital that accepts medicare patients. plus, there are no networks, and you never need a referral. see why millions of people have already enrol

wouldn't you say that, jared? >> i like the points you're making. on the wage side i agree with you. one of the things you've seen is while consumer spending has actually come up a bit, it's coming out of savings and not out of paychecks. peter has a point. >> you guys agree way too much. this is weird. >> to put this in perspective. it's encouraging news today, we had the news about housing starts being up a few weeks ago, and you have the potential the at least it seems to have a real recovery next year. i wonder if that sets the stakes for next week's elections. we'll find out who will get credit for the recovery that's already begun and there are policy implications for that long-term. >> don't be so quick. it will behoove everyone who becomes president because of the fiscal cliff and problems in europe. i wouldn't want to be either guy inheriting this situation in 2013. it's hardly a cleaned-up mess. >> yeah. i guess i feel differently about that. certainly peter raises some potential serious head winds out there, but the housing market is begi

they turned to face jared loughner and looked him in the eye.d loughner's mother was in the courtroom sobbing. >>> man suspected of killing a schoolteacher is in court in richmond. darnell keith washington is facing robbery, burglary and carjacking. he and his wife murdered 55-year-old susie ko at her home last month and stole her car. the wife still faces extra from washington state where the couple were arrested following a crime spree. >>> marin county d.a.'s office has decline to file charges immediately against three daycare workers arrested for the death of a baby in their care. right now the center is closed. autopsy shows the four-month-old accidentally suffocated after bedding cut off the child's airway. the d.a.'s office says it needs more time to review the case. >>> protesters demonstrating at the grand opening of a chick-fil-a restaurant in walnut creek the group says it is against the company's donations to anti-gay organizations and for the public anti-gay stance the founder took this summer. the demonstration didn't stop dozens w

jared bernstein, david corn, anana marie cox. thank you all. more denial from the right and their shrinking membership. stay with us. >> last night due to the technicality called the constitution barack obama was re-elected president though -- [ cheers and applause ] [ bleep ] you. [ female announcer ] research suggests cell health plays a key role throughout our lives. one a day women's 50+ is a complete multivitamin designed for women's health concerns as we age. it has more of 7 antioxidants to support cell health. one a day 50+. >>> republicans still seem a little groggy after crashing into the reality of modern america on tuesday night. mitt romney's comprehensive defeat reflected badly orn a party that seems to struggle with the racial, ethnic, and gender changes that this country has undergone. after taking such a beating, are republicans prepared to confront reality or will they carry on whistling in the wind? joining me now from philadelphia is julian epstein, a democratic strategist and in nearby bethlehem, pennsylvania, dr. james pet

it is sentencing day for jared lee loughner.gabrielle giffords and her husband plan to be there in the courtroom. six people were killed, 13 more injured in a rampage at a shopping center. some of those victims plan to comment today, including a woman whose words will not be aimed at jared lee loughner. >> i do not think you could have words that can have a strong enough meaning. i do not have any specific words for him. >> jared lee loughner'pleases agreement guarantees you will spend the rest of his life in prison without the possibility for parole. >> and the trove for a student accused of killing her -- and the trial for a student accused of killing her roommate begins today. they say she killed her over music being played on an ipod. she claims to was acting in self-defense. two of the three suspects arrested in the brutal beating of a man had to court today. they are all charged with attacking the man and august. maslin suffer severe brain injuries. >> in the aftermath of hurricane sandy we will get an update on garrett co

jared loughner walked in to the courtroom.ve seen many pictures of him with the head shaved, his hair has grown now and a much different looking young man than we have been accustomed of seeing and congressman giffords walking in to the courtroom with the help of her husband and with help of friends. they were going to confront mr. loughner for the first time since that day back in january when he shot congresswoman giffords and several other people, killing six people. the victim after victim paraded before the court and spoke many of them directly to jared loughner looking at him, describing the impact that this shooting had on all of their lives. many of them surprisingly i think, brooke, offered forgiveness. they said because he's mentally ill, they have some capacity in their heart to forgive him. all of them, according to the prosecutor or nearly all of them, said that they did not want the death penalty in this case. and that the prosecution honored those wishes because of mr. loughner's mental illness. perhaps the most

i can guarantee you we will not be spending a lot of time thinking about jared loughner. >> and so ita new day. a lot of things take courage. and both of you have shown so much courage through it all. thank you so much. astronaut mark kelly joining us tonight. >> you're welcome, diane. >> i thought the quote was inspiring. you tried to create a world dark as your own, you failed, you may have put a bullet in her head but you didn't put a dent in her spirit. >> and he also got political as he took eight at politicians and governors not doing more on gun control. he wrote, we have passed up the opportunity to address this issue. after columbine, virginia tech, tucson, aurora, we have done nothing, calling jan brewer's work feckless. reporting out weeks after the shooting arizona took time out to name an official state handgun weeks after the shooting. so it was a multilayered speech he gave in the courtroom yesterday. >>> coming up next, music's power to heal. >> the wounded warriors project that is turning silence to sound. you'll want to meet this band of brothers. stay with us. >> an

joining me now is jared bernstein, msnbc contributor and former chief economist for vice president joe biden and michelle cottle, washington correspondent for newsweek and the daily beast. thank you both for coming on the show. >> thanks, rev. >> michelle, let me go to you first. let's leave the other tax reform issues for aside for the moment. how can they defend not raising rates? >> this is fundamental to the house republicans got elected and who they are. taxation is stealing under any circumstances you don't raise the tax rates. and this whole grover norquist pledge, i agree, is a complete distraction. no matter how you feel about taxes, you don't want to look like you're tied to and being given marching orders by somebody who people have never heard of. i don't think the norquist pledge really matters. the house, in particular, has a problem with any kind of tax rate hike. >> now, jared, you're the economist. what is the economic part of this? give me how the economy is impacted by the rates as opposed to what they are saying. >> well, it's a very important question because the a

but, jared, as susan pointed out, is this already baked in? are people going to take this somewhere to the voters? >> i agree with them so far. but there are a couple of things that i want to take a disagreement with. dana said something like it's not so bad. this is something about a pretty good jobs report. if you look at the pace of jobs growth, and to smooth out the statistical noise, the underlying pace of job growth on the payroll side is about 170,000 jobs per month over the past four months. go back to the second quarter of the year where we were seeing a bit of a slump. the pace was about 67,000 per month. 67,000, 170,000. and disagreeing with susan a bit, that kind of momentum is actually showing up quite explicitly in consumer confidence. if you look at the measures of consumer confidence, they'll elevated consistently as the job markets accelerate. >> so let's talk about the fact that mitt romney, he's we said, he's going to have a campaign event in wisconsin and he's going to be hitting pennsylvania and new hampshire in the last f

. >> an emotional day in a tucson courtroom as jared loughner was sentenced to life in prison for hisage. the first time victims survived the crime, including congresswoman gabrielle giffords came face to face with loughner. mark kelly spoke for her in the courtroom and hear more of what he had to say coming up later in the broadcast. >>> seven members of the secretive seal team 6 one involved to kill osama bin laden they have been pirned for allegedly disclosing classified information. the seal members, consulted with makers of medal of honor war fighter. now that is a major violation of navy rules regarding disclosure of tactics, techniques, and pre seed jur -- procedures. seven men were punished, 11 involved, nonjudicial punishment, letters of reprimand can be career enders and punishments were read out loud in front of their peers this morning. a little public humiliation. >> first the book, upset about that. and now a video game. >>> if you were watching yesterday morning, you saw the braise in robbery in which thieves drove into a mall to rob a jewelry store with an ax in hand.

jared bernstein. . the president will have his first news conference in the east room of the white house, 1:30 p.m. our special coverage will kick off at 1:00. top of the hour. you do not want to miss that. pete, wall street has no representation in the room today. >> no. >> it's the most important issue to the markets. >> yeah. >> it's shaping the way you're trading. >> so, are we really saying that, you know, you need to get in front of your base first? if that's the case, then why do we even have these pins on, rise above. i thought we were supposed to be in an atmosphere where you're reaching across and trying to work together. there is absolutely no reason right now. take a look at the financial industry. what's been hit the worst basically since re-election of the president? it's been the financials. obviously some coal names took a hit as well. the market itself is getting beat up right now. i really don't understand how it is the financials -- now, you go back to 2006, you're talking about 8.3 m

hop it works. >> jared, jimmy's got a point. the industrial production number, no matter how you slice it, with the hurricane or without the hurricane, was a lousy number. business equipment continues to fall. that whole capital goods sector is in freefall right now. so yeah, great, no spending cuts. lots of tax revenues. your man wants 1.6 trillion over the next ten years. i don't see how this works out. >> let me explain how it works because jimmy was not being nearly kissy and huggy enough. look, what people have to understand and appreciate, i don't know why this hasn't gotten more play. maybe the white house itself needs to do a better job here. the congress and the president have already cut $1.5 trillion of spending over the next ten years. 1.7 trillion if you add interest savings. now, bowles simpson which i think you and jimmy like a lot, calls for 3 trillion in spending cuts. we are halfiway there. this is not a promise for later. and it did come through the budget control act and other discretionary caps, p but it's r

. >>> engineer rod love they are -- jared loughner will be sentenced to life in prison as part of a plea deal. congresswoman gabrielle giffords will be at the sentencing along with others who were at the attack. jared loughner is accused of killing 16 people and wounding several hours. >>> secretary of state hillary rodham clinton is not interested in another four years and speculation is sentencing on jim kerry. tim geithner is also expected to be replaced by jack luan leon panetta has said he is ready to return to his walnut farm in monterey. >>> it is not clear what mitt romney's plans are after losing out his bid for the white house. after watching the election news, he told them, win or lose he wanted to spend time with his family after months on the road. they are refusing to speculate what might be next for him but the former governor is unlikely to disappear from politics completely. >>> they are revealing two things to watch this. marijuana is still illegal under federal laws despite the passage of the two measures. colorado and california is the first state to allow potato for

3& 24-year-old jared lee loughnnr...he man that shot anddkilled ix people and wounded many more... including u-s represeetative gabrrelle iffordssin 2011... will spend the rest of hhs life in prison. prison.loughner plead guilty to the shootings and waa sentenceddto life today.. without parole.the hearing mmrked the first time vvctims -- innluding giffords -- could &pconfronttloughner ii ccurt.he husbann spoke on her beealf, saying loughner changed his wife's life forever but couldn't dent her spirit. m-s-n-b-c-'s... chris matthews... hot water... . &pfor comments...// e... &pmadee../ after... the... re-election of presiidnt obama...///. he... praised voters... for... eleeting... mr. pbama... whee... he rrferenced... the positive impact... hurricann sanny... had.../ onn.. the presideet's ccmp. campaign. good work for thhm, for america. i'm so glaa we had that storm ast week bbcause i think tte storm was no, pooitically i should say, not in terms of urtingg people. thhse comments cominn in the early morning wednesday... f

jared loughner killed six and wounded 11 others. we have more on today's sentencing. >> reporter: retired astronaut mark kelly spoke directly at the man who shot his wife, congresswoman gabrielle giffords who did not speak during the proceedings. you may have put a bullet in her head but not a dent in her spirit. know this and remember it always -- you failed. it was the first time gabrielle giffords came face to face with 24-year-old jared loughner who is accused of killing six and wounding 13 other. >> . another said i will not think of you again. loughner will spend the rest of his life in jail without the possibility of parole. he pleaded guilty to 19 federal charges as part of a plea deal to avid the federal death penalty. the only time he spoke in the courtroom is when the judge asked him not to comment. tucson shooting victims exspresd their pain and talked about the importance of treating the mentally ill. >> people should have been alerted that he needed mental health treatment. >> this is sad. this is tragic. this young ma

andrew boget joined jared rush on the injury list. he had trouble moving around on the surgically repaired aping l. main concern for the warriors is the ankles. logan says he thinks he rushed back from injury too soon. >>> billy bean has been named major league baseball's executive of the year. it's the second time he won the award. despite having the lowest payroll, they made a surprising run to the postseason after many expected them to finish dead last. andrew luck sporting a shaved head in support of his coach chuck people's exhibit agano. they say his cancer is remission and could be back by the end of the season and leading the playoffs. >> we'll see you at 11. ,,,, we don't call this our company, we call this our mission. green toys teaches children that if i have a milk jug and i stick it in the recycling bin it can turn into something new. chase allows us to buy capital equipment to be able to manufacture in the states to the scale we need to be a global company. with a little luck green toys could be the next great american

jared loughner opened fire on an event and six people died and 13 hurt. >>> we'll find out what the u.sl service expects from the holiday mailing and shipping season. the deadline to mail the packages to service members overseas is next tuesday, the 13th. >>> and flying to see family and friends over thanksgiving will be crowded and expensive. 24million people will fly between november 16th and tuesday november 27th. that's up, they say, 150,000 from last year. >>> the governor will be the keynote speaker at morgan state university's founder's day convocation. the school is celebrating the 144th anniversary. and the contributions that it made to the community throughout the history. >>> for the first time the majority of puerto ricans voted in favor of state hood. the vote was non-binding. right now 4 million residents are citizen whose cannot vote for president. >>> and sandy struck and people are without necessarities. stunts at towson want to help. today they're collecting supplies and donations to send to parts of maryland. delaware, new jersey and new york. they will be set up at t

bush, and jared bernstein. both men will join us life. >>> and the man many believe should have gotten the top post at yahoo. what ross levinsohn thinks, and of course the direction that marisa mayer is taking right now. >>> you won't believe what the ceo of groupon just said at a conference in new york city. we're going to tell you exactly what it is, just after the break. with the fidelity stock screener, you can try strategies from independent experts and see what criteria they use. such as a 5% yield on dividend-paying stocks. then you can customize the strategies and narrow down to exactly those stocks you want to follow. i'm mark allen of fidelity investments. the expert strategies feature is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. [ male announcer ] zeebox is the free app that makes watching tv even better. if your tv were a hot dog, zeebox would be some sort of fancy, french mustard. just like adding fancy mustard to a hotdog

sentencings expected any moment for jared loughner. he pleaded guilty you might recall in the arizona shootings that left six people dead and congresswoman gabrielle giffords critically injured. >>> a guilty plea expected today in the wikileaks case. american soldier private bradley manning accused leaking government secrets offerings up a plea to some lesser charges in that case. >>> the family of jessica ridgeway ordering a missing children's foundation to stop using the 10-year-old's likeness. jessica was kidnapped and killed in october as she walked to school. her family says they never authorized the organization to use her name and photo on fund-raising items they have been selling in colorado. jenna: weather certainly one of the biggest stories last few weeks. this fox news weather alert. the east coast going another round with mother nature. a powerful nor'easter slamming the area with heavy winds and rain and record snowfall quite frankly especially for this time of the year as really this whole area is trying to recover from

jared loughner walked off with a gun killed six people wanting 13 including giffords. he had fired 31 shots and has never explained what had compelled them. psychiatrist testified that despite this drastic swings in his mental capacity he was competent to enter the fuel deeply that brought him to this day. >> let the shopping began a grand opening of a new outlet mall has some shopping until they drop. we will tell you where. >> twitter has been hacked. will tell [ laughter ] [ girl ] wow, you guys have it easy. i wish i had u-verse when i was your age. in my day, we didn't have these fancy wireless receivers. blah blah blah. if i had a sleepover, i couldn't just move the tv into the playroom. no. we had to watch movies in the den because that's where the tv outlet was. and if dad was snoring on the couch, we muscled through it. is she for real? your generation has it made. [ male announcer ] the wireless receiver only from at&t u-verse. get a free wireless receiver with a qualifying u-verse plan. rethink possible. >> a san francisco man has died after suffering from a

jared, first to you. if you listen to what the president just said, he has basically toll the american people that if we raise taxes on 250k-plus earners, we can solve every problem that we've got -- jobs, college, roads, whatever it is. right? it's chump change! it's petty cash. >> well, no, no, no, no. it's interesting because i actually feel a little bit better than you about where things are. not just because we won. the thing that i've been hearing over the last couple of days, leader boehner, the president today, is agreement on this point on revenues. you make a great point, brian. it's not going to solve everything. but, by the way, there is $1 trillion of deficit savings on those upper income tax expirations. that's about 25%, about one-fourth of that -- it is one-fourth of that $4 trillion that the president's been talking about. >> it's generous friday. most estimates are $40 billion to $80 billion. joint committee on taxation, $467 billion. the president nis "new york times" two months ago, $8

jared, my friend, can i just make one factual correction? >> there are two tax questions in the exit polling and when you ask people about the income tax assuming there's a hike and then yes, you're correction, by 47 to 35 and not a huge amount, and they do favor tacking the wealthy and there was another question in the exit poll and i wrote a column about that, and should taxes be raised to help cut the budget deficit? guess what? yes, 33. no, 63. so i go slow on the mandate side. the country is very divided about tax hikes. >> go ahead. i'm sorry. >> jared, the republicans were elected to control the house. they also got a mandate. they could have been thrown out. four years ago the democrats controlled the house and now the republicans do and they were reelected to control the house so you can't just use the president by himself. >> i think that's a fair point and the cbo is not evidence. the cbo is an interpretation and an incorrect interpretation at that. >> that last part i lost you on. >> we all have the evidence. >> larry, it's my un

jared, good to see you. >> nice to see you. >> want to talk about big picture projections. you heard kristen making that comparison to what the fractured nature of the house was in 2011 versus right now. do you think that you're into more cohesive tone and something really will get done? >> i think there is a more cohesive tone and i actually think we'll probably solve this sooner than later. the question is does that mean before we actually go over the cliff on january 1st? i still think unfortunately we may end up going over that cliff. if there is a plan in place, maybe it's not completely signed and stamped yet. the economy won't go into recession on january 2nd. >> really? j is that because so many people say that it will, jared. why do you think it won't? >> okay. because people conflate going over the cliff with going over and staying over the cliff and they're different. this is actually right out of the congressional budget office's document that many folks are quoting from including you guys just a second alg. the cbo prediction of a recession and unemployment goi

jared. i'll start with you. i'm puzzled about the national conversation we're having here about the fiscal cliff or as i call it the gradual fiscal slope. the premise is you have automatic spending cut that are scheduled to trigger on january 1st. what we hear is panic over the prospect of austerity. the economy is weak and fragile, and we can't have austerity at this time. that makes sense. why isn't the conversation about stimulating the economy at all? >> it's a great question. in fact, behind the scenes there have been some discussions about that. one of the aspects of the fiscal cliff that gets less attention is the fact that the payroll tax cut, which is now 120 billion in the 2012 economy, is also part of cliff. that ends at the end of this year. there has been some internal discussions i understand about something that might replace that. there's been internal discussions about continuing unemployment insurance, which remains important. we still center a highly elevated unemployment rate with lots of lon

. >>> tears and anger in an arizona courtroom today as victims of gunman jared loughner confronted him at his sentencing hearing. gabrielle giffords was the target of that rampage which killed six people and injured 13 others. jay gray has more on the survivors who looked into the eye of the convicted killer. >> reporter: as he arrived at the federal courthouse in tucson, jared loughner knew his sentence, life in prison with no chance of parole. what he and the world would learn today is the emotions from the killing spree are still raw and at times overwhelming. >> i'm very, very angry and sick at heart about what you did, and the hurt you have imposed on all of us. >> reporter: often drew tears and always focused on loughner, survivors shared heart wrenching stories of that day. a quivering voice, she told loughner, i wanted to shake you and scream at you, as if that would matter. i will think of you as dead. mrs. studdard said, you murdered my raliegh, i'm so lonesome without him. the face of the tragedy, former congresswoman gabrielle giffords, stood at her husband's side as he cer

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this ends the federal case against jared lee loughner. and local officials say they will not pursue charges with this resolution. brian? >> miguel, thank you, in tucson. after a rough day in court in tucson >>> two days after this presidential election we still don't know the results from florida, the count of provisional absentee ballots continues there. president obama maintains a slight lead, but if it is much closer there could be a re-count. >>> meanwhile, a cliffhanger between republicans and democrats in d.c., one that involves automatic tax increases and spending cuts. the congressional budget office says it could go up to 9.1%. it is what they call for good reason, this fiscal cliff. andrea mitchell has more. >> reporter: the campaign was tough. victory is sweet. now comes the hard part. >> on january one, 2013, there will be a massive fiscal cliff of large spending cuts and tax increases. >> reporter: the economy could go off that cliff. so what exactly is the fiscal cliff? it is a nightmare combination of tax hikes and spending