over the fiscal cliff, you president spoke to a handful of chief executives including jpmorgan chase jimmy diamond, apple can cook, costco ceo, i'm sure they'll have some great insight. but guess what, one of president reagan's top economic advisors says we have already fallen off the cliff, so now what? art laffer here with a few things president obama has to do right now. thank you for coming on. you heard everything we have been talking about so far. we hear about france being downgraded, is that where we are headed? >> yes, that is where we are headed. he was really great. we are moving in that direction, obviously. melissa: we're looking at a shot of him celebrating. i can see that. he really is good. melissa: let me ask you, the three things president obama has to do right now putting politics aside to sort of save the day for us financially. these growth rates, they sound fantastic but how do you do that? >> you extend all the tax cuts, not just on the ones with lower income, but for all people. you really can't raise taxes and job creators and expect to get more jobs. honestly that is not