. >> stefan logic sometimes is hard. let me say this, there's markets and then there's the congress. the congress thinks they're smarter than the markets. markets has come back. why? housing, there isn't enough inventory. supply and demand. congress couldn't even screw that up. our economy is up, why? because the federal reserve is stronger than everyone here, the 800-pound gorilla that turnn out to be the 8,000-pound gorilla. to john'ses point, we couldn't absorb a $100 billion cut in a titanic of $15 trillion? come on. >> joan what do the economic ti tell you about the spending cuts? >> i think now it's pretty obvious that spending cuts and tax increases if done too early don't work. most countries in the world, except for china, are having major troubles because they did what we're doing a couple years too early and they have growth problems because of it. our stock market is beating all the european countries, foreign countries. we have the best gdp of the larger countries not including china as usual. it's because w