. >> peter cook - if i could follow up on your last response -- is it possible if policy makers or not to agree to some sort of deficit deal by the end of this year and we went over the fiscal cliff that the size of these asset purchases could, indeed, growth? you coined the phrase "fiscal cliff" and you think it is the most appropriate language to describe what may happen at the beginning of the year? some consumers think it may be alarming so do you think it is appropriate? >> if the economy went off the fiscal cliff, our assessment and the cbo assessment and outside forecasters think that would have a significant adverse effects on the economy and the unemployment rate. on the margin, we would try to do what we could. we could perhaps increase a bit. i want to be clear that we cannot offset the full impact of the fiscal cliff. it is just too big given the tools we have available and limitations on our policy tool kit at this point. as far as the terminology, people have different provinces about what they want to call things. i think it is a sensible term because i think that fiscal

. >> peter cook with bloomberg television. to follow up on your last response there, given the fiscal cliff, is it possible that if policymakers were not to agree to some sort of deficit deal by the end of this year and we were to go over the fiscal ", that the size of these asset purchases could grow in response? you going to the phrase fiscal cliff. i wanted to get your take on whether it is the most appropriate language on what will be happening at the beginning of the year. some americans may be alarmed. some economists feel it is more of a slope. do you feel it is still an appropriate term if there is no deal? >> to the first part of your question compaq if the economy actually went off the fiscal cliff, our assessment, the cbo assessment, outside assessment do not feel it will have a very adverse affect on the economy. on the margin commodity we would -- on the margin, we would try to work on that just a bit. but we cannot offset the full impact of the fiscal cliff. it is just too big, given an tools that we are -- how a

emerge we will be looking for something substantial in terms of a better job market [inaudible] >> peter cookf i could follow-up on your last response given the fiscal cliff is it possible if policymakers were not to agree to some sort of deficit deal and we were to go over the fiscal cliff the size of these asset purchases could grow in response to that and more specifically you calling the phrase fiscal cliff and i want your take on whether you feel it is the most appropriate language to describe what will happen at the beginning of the year. some americans may be alarmed, the you feel this is appropriate given circumstances, fiscal contraction that would come if there is no deal? >> the first part of your question, if the economy went off of the fiscal cliff our assessment, outside forecasters all think that would have significant adverse effect on the economy and the unemployment rate so on the margin, we would do what we could, we would increase a bit. but i want to be clear we cannot offset the full impact of the fiscal cliff. it is too big given the tools available and limitations on o

i will turn the stage back to peter cook from bloomberg. he will moderate the discussion. >> chairman, you are welcome to sit around, but i have a funny feeling you will get back to the hill. we hope to come up with some ideas from this esteemed panel. [indiscernbile] we will write them down and send them out. i will hand them to your staffer. all right, you hear the mission here, folks -- something that can pass congress and meet with everyone's approval. no small task. >> thank you. >> thank you, chairman baucus. there are new faces at the table, and we want to welcome all of you. i will go around the table quickly and introduce at least our new faces. we have got bill gale from the brookings institution, also a former economic adviser to president bush. john podesta, the chairman of the center for american progress. welcome. i will note that john has to leave us early, so i might put him first when we start questioning. donald marron, co-director of the urban tax policy center. we have will marshall as well, joining us from the progressi

. >> peter cook, bloomberg television. if i could follow your last response there, is it possible that if policymakers were not to agree to some sort of deaf set, the size of these asset purchases could grow in response to that? more specifically, you coined the phrase "fiscal cliff" and i want your take on whether you feel it is still the most appropriate language to represent what could happen at the end of the year. there are some plerns that could be alarmed -- americans that could be alarmed by the language. do you feel it is still appropriate if there is a contraction that could come if there is no deal? >> the first part of your question is, if the economy actually went off the fiscal cliff, our assessment, the c.b.o.'s assessment, all outside forces think that would have an adverse effect on the economy and on the unemployment rate. so on the margin, we would try to do what we could. we would perhaps increals a bit. but i just want to, again, be clear, that we cannot offset the full impact of the fiscal cliff. it i

. >> peter cook with bloomberg television. mr. chairman if i could follow up on your last response. given the fiscal cliff is a possible that a policymakers were not to agree to some sort of deficit deal with the -- by the end of year big over the fiscal cliff that the size of the asset purchases could indeed grow in response to that and more specifically you coined the phrase fiscal cliff and i wanted to get your take on whether you still feel it's the most appropriate language to describe what would happen at the beginning of the year of? there are some americans who may be alarmed by the language in some economists say it still -- and you feel it's appropriate given the fiscal contraction in the deal? >> the first part of your question is, if the economy actually went off the fiscal cliff, the ceo's assessment and outside forecasters think it would have significant adverse effect on on the economy and the unemployment rate. on the margin we would try to do a week could. we would perhaps increase a bit but i want to again be clear that we cannot offset the whole impact of the fisc

. >> thank you so much and thank you chairman bachus for turning us and turn it over to peter cook whour tax panel on tax reform. >> i got a feeling you have to head back to the hill. we hope to come up with some answers and ideas from this panel. we have -- we'll write them down. i'll hand them to your staffer. you hear the mission. we have to come up with some ideas that can pass congress and meet with everyone's approval, so no small task. there are some new faces at the table and again, we want to welcome all of you and go around the table and introduce at least our new faces. we have got the brookings institution who has done a lot on fiscal issues. we have the lindsay group, former economic adviser to president bush. welcome. we have the chairman for the center of american progress. former chief of staff of bill clinton. john has to leave us early. we have the director of the urban institute's tax policy center. we'll see if you two disagree on anything. we have will marshal from the progressive policy institute. we have senator bob packwood from oregon, former chairman of the se

i will turn the stage back to peter cook who will moderate our next panel on tax reform. thank you. >> chairman, you are welcome to sit around, but i have a funny feeling you will get back to the bill. we hope to come up with some ideas from this esteemed panel. [indiscernbile] we will write them down and send them out. i will hand them to your staffer. all right, you hear the mission here, folks. that can pass congress and meet with everyone's approval. no small task. >> thank you. >> thank you, chairman baucus. there are new faces at the table, and we want to welcome all of you. i will go around the table quickly and introduce at least our new faces. we have got bill gale from the institution.gs also a former economic adviser to president bush. john podesta, the chairman of the center for american progress. welcome. i will note that john has to leave us early, so i might put him first when we start questioning. donald marron, co-director of the urban tax policy center. we have will marshall as well, joining us from the progressive policy institute, the founder and presi

he will moderate -- to peter cook from bloomberg. he will moderate the discussion. >> we hope to come up with some answers from this esteemed panel. >> [inaudible] >> you heard it here folks. we need to come up with some ideas. thank you, chairman baucus. there are some new faces at the table. again, welcome to all of you. we will go around the table quickly and introduce at least our new faces. we have bill gale from the brookings institution. he has done a lot on tax and fiscal issues. we have lindsay, a former economic advisor for president bush. welcome. john podesta and chief of staff to bill clinton. welcome. john has to leave us a little bit early. i will go to him first when we begin. we also have the co-director of bill. we have will marshal as well. we have senator bob pack worwar. xe is part of the '86 ta negotiations. hope to get your thoughts on that. please jump in. we have about an hour or an hour and a half. if you hear something you want to weigh in, please do not look to me, but i will try to direct the conversation

ordered in from boston market for the family saying there were too many kids running around to be cooking. >> petere mighty have fallen. >> photographed pumping his gas since he has no entourage to the pump it for him. >> a sad story, nothing to do. >> peter: i don't feel that bad about it. hanging out with his car elevator taking rides. spiritists one of his many homes. >> the author of the hunger games trilogy is taking a break by writing a children's picture book an auto guy graphic piece about coping with her father's military service in vietnam as told through pictures. >> bill: all right, dan, thank you. all of the talk on the sunday shows yesterday and talk here in washington is still about negotiations to avoid going over the fiscal cliff. i think it's time to call it out. i am tired of all of the crap. let's go to the chase this morning and say there is only one person standing in the way of resolving this fiscal cliff, john boehner. who probably now has earned the titles of the worst speaker certainly in our lifetime if not the worst speaker ever in the history of the house of representat

. >> i think peter we talked about this. it's a point that tim cook cook told the new ceo of apple, told brian williams that one of the reasons that they located some jobs overseas is because people there have the skills and the training to build these computers. well, it seems to me americans can build these computers. we teach the skills in our community colleges and tie the two together. >> absolutely. we have an agreement we want to work with community colleges and businesses and actually have the community colleges write the criminal curriculum the businesses want. how can you go wrong with that? >> you marry those two together. >>. >> i ask you about december. typically december, there is a pick-up in december, isn't there, because retail jobs even if there were part-time jobs. >> those numbers are all so, you know, they will be adjusted. they make that ajustment because of seasonal hiring but we may continue to see that there are people who will stay on those jobs, which is good but we also need to expand some of those manufacturing second orde

cleaning the floors were cooking in all my dinner and so you don't challenge the media and you don't pretend to be something that you are not. islamic political science professor peter and his most recent book is o.o.p.s. and again, i have to -- observing the politics, how many books have you written and what are the topics? >> this is 17 of the original books. the second editions and its 27 but any way with the statistics i started out from all academics have to do the kind of time in the trenches of doing academic books. i've done textbooks the last five or six have been the most fun kind of books. the one prior to this on a profile of the people the presidents have mentioned in the state union message and today we are used to that a president pointing out using someone as an example. that wasn't done until ronald reagan did it for the first time and every president since then has used these people as an example of their political goals and so i found that one close to home office. they see what is the real brian lamb light and he didn't on the biography done and finally came in and said what do you think and they said well i guess i can't say no its open access i

peter billingsley looks familiar, that's because he played ralphie. >> it's the simple little things that drive you crazy around christmas. trying to get your little brother to eat, picking a tree, trying to cookhose things. >> reporter: now billingsley is one of the producers of "a christmas story: the broadway musical." ♪ get there on the double! >> reporter: 12-year-old johnny rabb plays ralphie. ♪ ralphie too the rescue -- >> reporter: ten-year-old zach ballard is randy's brother randy, the one who memorably pigs out on mashed potatoes. >> good! that's my piggy. did you ever think of asking a stunt man to do that for you? >> no, i never want a stunt man to do that. >> reporter: you do your own stunts? >> yeah. >> reporter: what's your motivation? >> um, what do you mean by "motivation"? >> i don't even know what i'm asking. whatever you're doing, it's great. this family favorite was a series of stories written by radio commentator gene shepherd in, of all places,play bog magazine. the stories became a book which then became a movie. >> rose fudge! >> reporter: only i did isn't "fudge" i said the word. the big one. >> reporter: the number one that people say to you when you come up is -- >>

tim cook ceo of apple saying we are going to do a whole line of manufacturing here in the united states next year. how about it petereting at bp show at bp show. ski king says, bill for once i agree with you. >> whoa. >> you've got a friend there. also, derrick thompson. >> all of the time i have been on the air, he has never agreed with anything. >> sorry. our friend derrick thompson from the atlantic whom we have in studio. is apples made in the u.s. move about economics or marketing? >> both. >> i think it's probably both. >> sure. >> it's $10 million they are investing in jobs here no matter how you look at it, it's a good deal. >> a good marketing move for them. it's good publicity. i am talking about it saying i think it's good for this country. ruth is in sandy hook connecticut. >> good morning, bill. i am calling to say, please keep feeling guilty. >> why? >> because this adorable company does things to make sure that they don't pay taxes in the u.s. there is a thing called -- this was in "the new york times." it's double-dutch sandwich which reduces taxes by routing profits through irish subsidarbs like the