The View from Here... David Gregory

December 12, 2010

Goolsbee, Bloomberg, and round table discuss taxes, economics and the President

President Obama is struggling for friends in Washington right now.  On Tuesday, the president defended his tax cut deal with Congressional Republicans, saying, "I felt that the middle-class tax cuts were being held hostage to the high-end tax cuts."  Not long after, some liberals in Congress came out against the proposal, angry that the President had given up on his pledge to end the Bush-era tax cuts for the wealthiest Americans.  

At the top of the show, I sat down with the chair of the White House Council of Economic Advisers, Austan Goolsbee. With all of the tension over the tax cut deal between President Obama and the Republican leadership, I wanted to talk with Mr. Goolsbee about what real effects he believes this deal will have on the economy. 

  

He also told me that even though there are some provisions of the deal that Democrats don't like, inaction would be far worse for the economy. He said, "And if you let these tax cuts expire, which they will in 20 days if we do nothing, I think that would be a serious blow to the economy.  Everybody agrees on that.  So I-- I don't think we should get into this semantics of whether it's what-- how much it raises the probability of double dip.  I think we should just recognize not acting is very bad for the economy"

Then, with such heated partisanship in Washington, it's not that farfetched to imagine an Independent candidate having a real shot at the Presidency in 2012. One name often mentioned  as possibly becoming that candidate is New York Mayor Michael Bloomberg. However, when I asked him about the possibility, he seemed adamant that he will not run in 2012.

Finally, I was joined by our political round table. My guests were The Wall Street Journal's Paul Gigot, Harold Ford Jr., Democratic Congressman Anthony Weiner, and NBC White House Correspondent Savannah Guthrie. Congressman Weiner and Former Congressman Ford (both Democrats) got in to a debate about whether or not this tax deal is good or bad for both the Democrats and the country. 

Mr. Weiner has been especially outspoken lately in his opposition to the deal. He told me today, "I'm not a member of the tail-between-my-legs-- wing of the Democratic party.  I believe we still fight for the things we care about." Watch part of our discussion below.

 Be sure to join us next week - same time, same place. If it's Sunday, it's Meet The Press.