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December 5th, 2012
10:57 PM ET

Larry Kudlow, to Piers Morgan, on the Fiscal Cliff: "Speaking as a Reagan conservative, I must admit, I rather agree with you"

With the passing of each day, America teeters that much closer to the proverbial "fiscal cliff." On Wednesday evening, with only 27 days remaining until the tax rates and spending cuts in question take effect, "Piers Morgan Tonight" welcomed a pair of men well-versed on a variety of topics, and equally qualified to share their insight into the nation's most-pressing economic issue.

Describing the subject as he sees it, Piers Morgan began by summarizing the situation:

"Come the fiscal cliff moment, if it goes over, Republicans are letting middle-class Americans be taxed higher, to save the backsides of the two percent of wealthiest Americans," he presented. "That's a nightmare politically."

Seated directly across from the host as part of a live interview, Larry Kudlow had no choice but to concur:

"Speaking as a Reagan conservative, I must admit, I rather agree with you. I probably shouldn't, but I do," revealed the host of "The Kudlow Report" on CNBC. "I think that divided government is very difficult. And there's some principles that Speaker [John] Boehner is fighting for with which I actually agree. But I think politically, the risk here for the GOP, is that they become the party of rich people, and that they give up the Middle Class to the Democrats."

Joining both Morgan and Kudlow in the program's New York City studio, Nick Kristof further detailed the potential political implications tied to the debate that has Washington, DC deadlocked:

"That's why the politics of this make it quite possible to go over the cliff. I think the Democrats see precisely that: that if we go over the cliff, the Republicans get blamed. So, there's not exactly an incentive to go over it, but the cost may not be so great, political cost," detailed the two-time Pulitzer Prize winner and "The New York Times" columnist. "Meanwhile, I think many of the Republicans, what they worry about, is not being blamed by the Democrats, but is a primary contender from within the Republican field. So that doesn't mean that they're obliged to stop this. So, I'm afraid the politics will make it a little harder."

Watch the clip, and listen to the interview as both Kristof and Kudlow share their expertise in explaining the pending fiscal cliff and why America may very well go off it.
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Filed under: The Big Story
soundoff (2 Responses)
  1. Liana Schill

    Piers, I've discovered that the Republican Party is the "Party of the two percent". They fiercely protect the financial interests of this segment of the population. I challenge you therefore to invite guests that represent the interests of the ninety-eight percent. Ask your staff to find economists, social workers, school teachers, etc. who understand the plight of this group w.r.t. the fiscal cliff. Incidentally, there are a number of Nobel Prize Laureates who have won prizes for economics, even economics as it relates to crime prevention.

    December 6, 2012 at 6:40 am | Report abuse | Reply
  2. M Bauman

    Too bad the liberal press does not understand free enterprise. After the Campaigner-in-Chief was re-elected he decreed that tax increases are required and spending cuts are off the table but that the other side must compromise. Apparently compromise only applies to one party and most "reporters" agree. I have not heard any media report on the need to avert the third downgrading of US credit rating (the first two in history have come under Obama). Adding enough new taxes to fund the government for a few days while the national debt speeds toward the same level as the annual gross domestic product is sheer lunacy.

    December 7, 2012 at 6:43 pm | Report abuse | Reply

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