monica, have to say, eloquent labor leader, richard trumka from a manufactured crisis. the mathematics don't matter. >> well, apparently mathematics do not matter. according to the president of united states the united states from the math doesn't matter or he simply doesn't care. this is a president hasnow racked up $16.2 trillion in debt and given us a record-breaking four straight years of trillion dollar less deficit. in his press conference yesterday, when he was talking about the need to cut the deficit and bring this under control, he has credibility on this. he has had for years, including two years for of democratic congress to be serious about it. he has not demonstrated. there is nothing in his background or pattern or history that leads us to believe he will do just. lou: senator patty murray, wants to be the chair of the senate budget committee but of dollars that she cannot commit to actually passing a budget. what are we doing with your? >> we are dealing with a bunch of adolescents in the united states senate who don't leave. the congressional budget off

this is richard trumka.have to remember, it used to be headed by people who were basically to the right of where he is certainly. i would not call them from the center-right. certainly on the left, but the afl-cio used to represent america much more than this guy help. >> nobody takes this seriously. it is a way to basically to explain away the rampant growth of government spending. stuart: i take it very seriously question of the import of it that he has made happen, but it is a way to explain away the rampant growth of entitlement and government spending and the president. then the way to fix it is to tax the rich because you're all the polling 140 billion year. that's no way cutting into the deficit. stuart: he's going with the krugman, paul krugman, new york times. >> bomber in rod consultants. stuart: they're going with that line which is, you don't have to worry about the deficit because money is cheap. it costs nothing for the government to borrow, and you can print it. >> you know what does it on a s

this is what labor leaders want, and richard trumka saying, quote, and no more bush tax cuts for the richest 2%, no benefit cuts for social security, medicare and medicaid. john boehner says we will talk more tax revenue in an overall tax system but we won't discuss without entitlement reform. that is the key for republicans. they will do tax revenue but it has got to be part of an overhaul of the tax system and has to involve medicare, medicaid and social security. exactly what, folks. but white house don't want to. melissa: leaders in d.c. are scrambling to figure this out but our first guest says he really does fear we're going to hit the fiscal cliff. think of while e. coyote and the acme parachute. scott hodge is president of the tax foundation. you are well known for innovative ideas on tax policy. in the 1990s you campaign to include a child credit in capital gains tax cuts. what is your best idea this time around? >> the best idea right now is for everybody to take a deep breath and pumped into next year. all the tax cuts should be extended for one more year to give congress

we're scrolling their names on the side of the screen, but you can see richard trumka is there alongthe heads of every major union, richard trumka who said this after the president's victory last week. >> it's strongly believed that we should make sure the wealthy should pay their fair share of taxes. they believe we should protect medicare and medicaid and social security benefits from cuts. and voters reject the idea that bringing down the federal budget deficit is an overriding priority. >> all right. tax the rich, keep spending and don't worry about the deficit. that's the man who has the president's ear on the first day of fiscal cliff talks. tomorrow, a group of ceo's for the white house for a meeting none of them, none of them from wall street. the president also holds a news conference tomorrow afternoon. now, it won't be until friday that he'll finally get together with congressional leaders, the people who havv to make the deal to avoid the fiscal cliff and everybody that passes, we get close, every day that passes we get closer to huge tax increases and budget cuts. and no

richard trumka said there is no fiscal cliff.t we are facing is an obstacle course within a manufactured crisis. we make it back? >> i don't know? what is manufactured? we have been in the most predictable crisis. and you seem to have a lack of will on the part of the president actually get something done. that is the fundamental problem. gerri: i have asked you about one other comment. this from patty murray. this is that taxing the wealthy is essentially more important than taxing the budget. now coming of the senate doesn't have any track record ofassing budgets. am ihe only person who is shocked by this? >> no. we can consult recent history to understand we haven't had a budget and more than three years , and that taxg the wealthy is one one of the things the democrats think what'll solve the problem. u're talking about $80 billion a year. $800 billion over 10 years. when you are trying to fill a hole that is $1.4 trillion, more or less of a the deficit. the math just doesn't work. you can also go back and make a simple point

i could say the president and richard trumka have a point. we are not going to have a debt crisis next week or next month. not even next year. very cheap to keep borrowing money, interest rates at all time record lows. why worry about it? why should i worry about it? >> the president and from the are right, not massive drivers we are not addressing. we are not looking at medicare or social security. these are things that ultimately will bankrupt the country. the thing that makes me concerned hearing this from left-wing leaders, hearing this from the president is to say we don't need to deal with the problem is to ignore the massive spending obama has presided over and for him to ignore that presents a problem for us now. wheat -- interest rates are low but in no way are we an economy not beleaguered by big government and tax hikes and to that. stuart: as i listen to these negotiations going on over this fiscal cliff, i hear richard trumka really loud and clear saying borrow, keep borrowing. you must not cut spending on medicare and medicaid,

right before the election afl-cio president richard trumka went on, talked to the "new york times."t on the record said if he won in michigan he would spread it to 18 other states that have the same constitutional amendment process giving it to voters. they had a big gamble on this and they lost big-time. david: hey, vince, because we have breaking news. we want you to have you come back to talk more about this story. could you do that? >> absolutely, david. david: will do. we'll have him back. the news from am. did, they're saying their company is not for sale. that is the breaking news here at fox business. what we have economic problems in europe and here so, where is the big flight to gold that usually results in these fears? up next, it is back to liz claman at the cme global financial leadership conference. she has got one of the best people to ask about gold. the vice president of global futures and precious metals at rbc capital markets. he has three reasons, people are not, not flocking to gold. ♪ . ♪ [ male announcer ] how could a luminous protein in jellyfish, impact life

[applause] >> union boss richard trumka says what fiscal cliff? nancy pelosi says oh, whatever, when she's talking about the constitution. you'll get to hear my reaction to the equities of the week when we return. [applause]. monarch of marketing analysis. with the ability to improve roi through seo all by cob. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. i'm going b-i-g. [ male announcer ] good choice business pro. good choice. go national. go like a pro. so, which supeast 4g lte service would yochoose, based on this chart ? don't rush into it, i'm not looking for the fastest answer. obviously verizon. okay, i have a different chart. going that way, does that make a difference ? look at verizon. it's so much more than the other ones. so what if we just changed the format altogether ? isn't that the exact same thing ? it's pretty clear. still sticking with verizon. verizon. more 4g lte coverage than all other networks co

those at the white house meeting and says he and the president are right now on the same page, richard trumka. >> we're working to make sure we're not paying a tab for a party we didn't go to. the president led with the notion of protecting the middle class and now you have republicans that have it in their power and could sign a bill tomorrow that protects the middle class so we'll see what they can. are we going to push them on that? without a doubt we're going to push on them. are we going to collectively stand up and make sure that workers get a fair shake in all of this? absolutely, we are. do we believe that the president is committed to that same thing? absolutely, we do. >> by the way, tune in to msnbc today at 1:30 p.m. for live coverage of the president's press conference. again, at 1:30 today. >>> congressman paul ryan is dismissing suggestions that president obama's victory gives his administration a mandate to raise taxes on the rich. returning to capitol hill yesterday for the first time since the election loss, paul ryan pointed to the republicans keeping control of the house a

afl/cio president richard trumka, is not worried at all. here's what he says. he says, the most frustrating thing about washington, d.c. is the way political insiders create a self-reinforcing reality out of nonsense. take what the media are calling the fiscal cliff there is no fiscal cliff. what we're facing is an obstacle course with a manufactured crisis thrown together in response to inflated rhetoric about our federal deficit. this is amazing that a union boss would tell us there's no fiscal cliff. we don't have a debt problem. we only owe about 16 trillion dollars that's what our debt is, surely we can pay that off, we'll just ask every american to write a big fat check for about $60,000 a piece. would you write yours and send it. if you are dumb enough to do it, send it to me, don't send it to the government. i'd be delighted to have it. mr. trumka ought to be talking to some of the people in the union that would not budge with the hostess baking company. we're losing hostess, they're gone. snowballs, hostess cakes, ding-dongs, twinkies, they will be no

what do you make of richard trumka?basically laying the groundwork for economic policy in that second term. he's saying look, forget about this fiscal cliff. what we want to do is spend more money and tax the rich. he's saying the debt is not a problem now. it may be a problem down the road but it's not a problem now. so he's being very forceful in saying spend it, spend it on infrastructure. keep spending on medicare. medicaid. we'll borrow the money and we'll worry about it later. >> brian: the fact that he goes in first and the ceos go in later in the week and then congressional leaders to end the week today, doesn't that say a lot? >> it does say an enormous amount, yes, it does. the first out of the box, the first meeting that the president had after his reelection was with the left. union people and leftist activists. they got in first into the white house. they laid down the law. this is what we want. the bottom line here is, look, trumka is saying don't worry about the debt. we've got to keep spending and theref

richard trumka was right.t will pay off. >> alisyn: okay. so as we know, politics is a game of tit for tat. you say that the president owes them big time. so how will he repay them? >> first thing you're going to be seeing is the employee prechoice act, card check. it's doing away with secret ballot elections. they desperately want to be able to just force people to sign up by standing over them and having them sign a card. second thing you're going to see is health care, obamacare be implemented, which will give enormous amounts of new members to the unions. you will see he millions of new members because of obamacare because obamacare will be a program that -- where money will be coming from the states. third thing is more insourcing, which is basically not letting the federal government go out and let independent people do some of the jobs more inexpensively. they're going to bring them in house in the federal government which means more union members. >> alisyn: obviously compromise is the word of the day

richard trumka does not have much to say about the union that brought down hostess.tead, he figured out a way to blame governor romney for the demise of the company and the 18,000 jobs. happy birthday, speaker? the president gave him his gifts, but was it a secret plot to eliminate the competition? what may be a white house diabolical plan, we are just kidding. the white house would not do that. that. straight 4g lte is the fastest. so, which supeast 4g lte service would yochoose, based on this chart ? don't rush into it, i'm not looking for the fastest answer. obviously verizon. okay, i have a different chart. going that way, does that make a difference ? look at verizon. it's so much more than the other ones. so what if we just changed the format altogether ? isn't that the exact same thing ? it's pretty clear. still sticking with verizon. verizon. more 4g lte coverage than all other networks mbined. and need to get my car fixed? progressive makes it easy, because we give you choices. you can pick where to get your car fixed, we can cut you a check, or, at our serv

richard trumka does not have much to say about the union that brought down hostess.ed out a way to blame governor romney for the demise of the company and the 18,000 jobs. happy birthday, speaker? the president gave him his gifts, but was it a secret plot to eliminate the competition? what may be a white house diabolical plan, we are just kidding. the white house would not do that. straight ♪ lou: following a meeting with the president and the congressional leaders, the house speaker says the group outlined what he called a framework for compromise on the fiscal clef. republicans apparently willing to put revenue on the table if accompanied by opprobrious spending cuts. joining us ow, congressman leach, r from texas just reelected to a fifth term, vice chair of the house subcommittee on crime, terrorism, homeland security and served previously as chief justice for the texas 12 court of appeals. great to have you with us. >> always good to be with you. lou: let's start with the fiscal cliff. your call for a special prosecutor on benghazi. going to the fiscal cliff, th

richard trumka does n have much to say about the union that brought down hostess.tead, he gured out a wa to blame governor romney for the demise of the company and the 18,000 jobs. happy birthday, speaker? the president gave him his gifts, but was it a secret plot to eliminate the competition? what may be a white ouse diabolical plan, we are just kidding. the white house would not do that. that. straight the capital one cash rewards card gives you 1%ash back on all purchases, plus a 50% annual bonus. and everyone...but her likes 50% more ch. but i'm upping my game. do you want a candy cane? yes! do you want the puppy? yes! do you want a tricycle? yes! do you want 50 percent more cash? no! ♪ festive. [ male announcer ] the capital one cash rewards card gives you 1% cash back on every purchase plus a 50% annual bonus on the cash you earn. it's the card for people who like more cash. what's in your wallet? ♪ [ male announcer ] they are a glowing example of what it means to be the best. and at this special time of year, they shine even brighter. come to the winter even

richard trumka does not have much to say about the union that brought down hostess.ad, he figured out a way to blame governor romney for the demise of the company and the 18,000 jobs. happy birthday, speaker? the president gave him his gifts, but was it a secret plot to eliminate t competition? what may be a white house diabolical plan, we are just kidding. the white house would not do that. that. straight i look up to a lot of the older heads, you know, the innovators, the heads of the art movements of the past. they kept it really edgy, and, like, a lot of the latin american muralists and the latin american artists, their styles are very uniqe and new to their time, you know, somewhat controversial, but that's who i look up to mainly. personally, i'm very excited about going to college. it's something new, and it's something different than what i'm used to. i'm definitely going to be a little out of my element, but that's what makes it so exciting is that, you know, it's something fresh. well, there's so many opportunities that i think i could miss out on if i didn

richard trumka does not have much to say about th union that brought down hostess.ad, he figured out a way to blame governor romney for the demise of the company and the 18,000 jobs. happy birthday, speaker? the president gave him his gifts, but was it a secret plot to eliminate the competition? what may be a white hou diabolical plan, we are just kidding. the white house would not do that. ♪ ♪ [ale announcer ] they are a glowing example of what it means to be the best. and at thispecial time of year, they shine even brighter. come to the winter event and get the mercedes-benz you've always wished for, now for an exceptional price. [ santa ] ho, ho, ho, ho! [ male announcer lease a 2013 glk350 for $399 a month at your local mercedes-benz dealer. so, which supeast 4g lte service would yochoose, bad on this chart ? don't rush into it, i'm not looking for the fastt answer. obviously verizon. okay, i have a different chart. gog that way, does that make a difference ? look at verizon. it's so much more than the other ones. so what if we just changed the format altogether

and don't you tell me from a distance that richard trumka is a dead ringer to meatier jack sparrow fromnce. ♪ ♪ >> neil: all right, that sounded good while we were preproducing it. i'm kidding. the invite lost today is no joke. besides the afl-cio, the american federation of state county and municipal employees and on and op and on. i am looking at union guys to think to myself, self, surely they are not all union guys on pennsylvania avenue. too obvious. i found nonunion ties. pirates of a different sort. united in wanting the success to walk the plank. the national community to preserve social security and medicare. moveon.org. all right. game over. game over. if this is the white house view of fair and balance count me concerned and worried. the white house is quick to say that the ceos are due up tomorrow. true. but i notice no wall street ceos, tit-for-tat. that's fine. no matter. what matters to the president is keeping them close today. barack obama invited them to his house to remind them he is indebted. the president of all the people he will never forget his people. the messag

very quickly, richard trumka. look at what he had to say about the fiscal cliff today.is obstacle course in a manufacturered crisis that was hastily thrown together in response to inflated rhetoric about our federal deficit. >> dana: that reads like a greg gutfeld sentence. >> eric: let me show what a fiscal cliff really looks like. bush tax cut expire, $150 billion. payroll expire , $125 billion. tax patch, $88 billion. billion. $145 billion in other taxes. $514 billion of new taxes will hit you american families. by the way, every single year going forward. >> dana: what do you get for it? >> bob: $17 trillion in debt, right? who is next? >> andrea: so a lot of environmental tree-hugging freaks gripe about hydrofracking. we talk about this on "the five." a huge job creator but they say it's not safe. look what i found. a new hydro fracking fluid made entirely from food ingredients. they are using this on frac jobs to prove it's safe. i'm going to drink it. >> bob: don't do that. >> andrea: hmm. >> dana: let me know how it goes in the morning. >> andrea: it's thick but

labor leader and president of the afl-cio, richard trumka, was among those at the white house meeting. he said he and the president are on the same page. >> we're very, very committed to making sure that the middle class and workers don't end up paying the tab for a party that we didn't get to go to. the president led with that notion of protecting the middle class, and now you have republicans that have it in their power, they could sign a bill tomorrow that protects the middle class. we'll see what they can. are we going to push them on that? without a doubt we're going to push them on that. are we going to collectively stand up and make sure that workers get a fair shake in all of this? absolutely we are. do we believe that the president is committed to that same thing? absolutely we do. >>> also congressman paul ryan is dismissing suggestions that president obama's victory gives his administration a mandate to raise taxes on the rich. returning to capitol hill yesterday for the first time since the election, ryan pointed the republicans keeping control of the house as a sign that

iran richard trumka saying to reporters today that there is no fiscal cliff.actured crisis. men wrote to us inside as if we needed any further evidence that humans have been a cancer on this country. aaron also agrees. of course, there is no fiscal cliff in the unionize. we asked the question on gerriwillis.com. 95% said no. only 5% said yes. log onto gerriwillis.com for online question every weekday. surely right that obama couldn't have asked for anything more dramatic to get the american focus off of his libya debacle. it was only a few more days before the election and he milked hurricane sandy for all it's worth. and randy agrees. my heart goes out to people in the northeast. it's funny that i didn't see the president in iowa when they had a horrible weather a couple of years ago. people suffer there, too, but not important enough to make him the center of attention. joe from texas says as an insurance adjuster, insanity to one to explain just what kind of coverage the insured had to set the time they need help most. most people have no idea how their cov

megyn: i mentioned a moment ago that the union leaders including richard trumka, supposedly they cameout and said we don't want them touching medicare and in medicare and social security, they don't want any of these so-called entitlement programs to be adjusted. i'm not talking about people that are getting social security currently, but there had been a discussion from the deficit commission to raise the retirement age for people who are a little younger. lou: it's going to have to happen. megyn: they said no, that's a nonstarter. megyn: lou: they are going to talk straight. we are going to talk about tech expenditures, we are talking about raising taxes. the boys and big girls talk straight. they are going to have to join our club whether they want to or not. we have a crisis at hand. it is going to have to be dealt with intelligently. you know, this is an unfortunate beginning. and he reminds me right now, and i hope i'm wrong about this, he reminds me of george w. bush when he bellied up to the 2004 election, talking about the political capital that he had made. i'm going to spen

here's what's on richard trumka's mind. he has been reminding the press that in ohio, afl-cio members are 83% white, 53% of them own guns and they voted 70% for barack obama. labor knows exactly how important it was to the president's reelection effort particularly in the swing states. what about labor law reforms? what about making the marketplace more attractive to unions and union membership? mitt romney ran as if the president had put in place big sweeping labor law changes, but the obama administration didn't affect midge change in the first term. there's lots of things left on the labor agenda like a bill to make it easier for unions to get recognized and harder for companies to block unions from forming. could it be in the realm of possibility in the second term obama administration? or yesterday when the president spoke at arlington national cemetery, he touched on something that should be in the realm of possibility. the month's long backlog that our new veterans are facing when they try to access the benefits they

here is afl-cio president richard trumka immediately after the meeting. >> we're very, very committedo making sure that the middle class and workers don't end up paying the tab for a party that we didn't get to go to. and the president is committed to that as well. are we going to collectively stand up and make sure that workers get a fair shake in all of this? absolutely we are. do we believe that the president is committed to that same thing? absolutely we do. >> but in a prior interview with salon, trumka took a harder line saying, quote, if any bipartisan deal includes cuts in social security, medicare, or medicaid or extends the bush cuts for the top 2%, we will oppose it. whenever something is good for workers, we'll support it. if it's bad for workers, it doesn't matter who proposes it, we won't be on board. we won't be taken for granted. it doesn't sound as if he's giving the president much room at all to negotiate. later this afternoon treasury secretary timothy geithner made his first comments about the fiscal crisis since obama's re-election. reuters reports the secretary s

richard trumka, the president of the afl-cio was speaking at an event in columbus today, talking about the importance of getting people out to vote. here is why. the obama campaign made it a sfr piece because they believe they can win it and get younger people out to the polls and people out there camp to the polls and president obama has a lead going into the early vote. and absentee, is strong enough, because the republicans believe they'll win in the election day voting. >> peter doocy is live in fairfax, virginia where national polls are showing the race between governor mitt romney and president obama is a statistical dead heat. peter? >> that's right, uma, here in fairfax county today, virginia's largest locality. 1.1 million people live here and barack obama won this county by 109,000 votes in 2008. helping him win the state of virginia, we've seen a steady stream of people walking from the parking lot into the polls, today is the last day in virginia and you can vote absentee in person and since every vote is important in virginia in 2012, asking them what it is that's driving