Budget Deal Does Close to Nothing: Hunt

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Dec. 9 (Bloomberg) -- Al Hunt discusses U.S. budget negotiations with Stephanie Ruhle on Bloomberg Television's "Market Makers." (Source: Bloomberg)

Are talking about the great he'll be negotiated.

What is this deal?

No entitlement reform, no tax hikes, that is no nothing.

It is very close to that.

It is a deal that has politics written all over it, not much economics or fiscal sanity.

I think they will come up with a deal.

It is not certain they can get it through the house and senate.

It does nothing for long-term entitlements, nothing for tax loopholes.

It only partially replaces the sequester, which most people think is mindless.

The argument for it is pure and simple.

For the republicans, they avoid another government shutdown in mid-january.

The last one was a disaster for them.

Democrats get to replace some of those questioned cuts they find especially onerous.

It was a disaster for republicans but it was a disaster for the reputation.

What about the american people and for trillion dollars in debt?

We now face a short term that problem.

What they ought to do now is figure out a way to address that long-term deficit because it is rather painless in the immediate future.

Being politicians, the future for them -- there will be nothing of significance that comes out of this deal.

Let's say they get a deal but lawmakers still push back.

What does that say about what is happening in the sea -- in d.c.? if i was a good speller i would say it is his function.

I don't spell very well.

Right now the democrats -- and they need democratic votes to get this through the house -- the democrats are complaining about federal workers having to pay their pensions.

A lot of federal workers, some of the republicans don't like the idea of replacing the sequester.

They don't even like some of the user fees that are going to be imposed on airline passengers and customs.

Even the small stuff in today's climate draws a flag.

M a -- do we need a clinton or christie in the white house?

I'm not even sure the big c would do it right now.

The parties are so divided.

There is such polarization that those in the middle get hit from both sides.

We probably need to go through a crisis or two or an election travel or two before we get anything big.

Even long-term, is there any chance of a grand bargain anytime in the future?

Not in this congress.

Considerably -- conceivably the 2014 election could change that and baby the 2016 election.

The house goes home on friday, then what happens?

I hope you will still invite me on the show so we can find something to talk about.

There will be foreign issues, as always.

Once congress goes back there is not a whole lot of issues that dominate washington for three weeks.

Thank you so much for joining

This text has been automatically generated. It may not be 100% accurate.


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