tv Meet the Presss Press Pass NBC September 23, 2012 11:30am-11:45am EDT
. >> this week on bloomburg government's capitol cane. we take you to massachusettes with scott brown and elizabeth warren are locked in an expensive battle that could decide control of the senate. we'll talk to both candidates. will congress avoid sweeping defense cuts. we go one on one with senator john mccain. will a deficit deal be bad medicine for america's top hospitals and insurance companies. we'll explain in the bloomburg analysis. she helps people connect. you need to know julianna glover. i'm peter cook welcome to bloomburg governments capitol gain. if your business is washington stay with us the next half hour. for the impact on government action in business and the
economy and the people who matter. governments begin with elections. and this election will set the stage for the most important fiscal debate the country has faced. we'll talk about it. in a moment we'll take you inside the congressional race wall street cares about most. but first a quick take on bloomburg governments key findings this week on washington's winners and losers. so big they're known as the primes may have to make room for a 6th. according to an analysis the pentagon is likely to bless the proposed merger of eads and bae. the new competition for business would make the defense department a winner. losers lockheed martin among the primes likely to fight the marger. caterpillar and see monos hoping there will be a higher speed limits for a federally funded rail line. locomotives that can hit 125 miles per hour. if they get their way market
leader ge will be a loser. its locomotives would only be 110 the faster target could set the standard across the country. as the federal government spends billions on high speed rails. for the first time since 9/11 there's a budget threat in homeland security. the cuts would cost the agency $4.1 billion. fima disaster funding would be spared. the losers would be the agents in blue at the airport. they would have to slice half a billion dollars in aviation security. control of congress may matter as much as business as who wins the white house. the battle between senator scott brown and elizabeth warren in massachusetts. wall street is backing brown but warren has her own outside help. i caught up with both candidates on the campaign trail this week. >> i want to go to washington to fight for working families.
she's a hero to the left. and he's a popular republican in a democratic state. >> my goal has been to work with people to come up with solutions. >> scott brown and elizabeth warren are in the most closely watched senate race in the country. $48million counting it's also the most expensive. in 2010 brown took the political world by storm when he won ted kennedy's senate psi. now he's trying to keep his job. top watchdog and harvard professor is too liberal even for this state. >> what do you have to do to hold on to this seat. >> point out differences between professor warren and me. i'm a bipartisan guy. professor warren is the one who pushed the ewe didn't build it mentality. demonizing job creators. i'm going to point out those differences bealso remind folks what i've done since i've been
there. the job packages i've helped pass. a lot of accomplishments i'm very proud of. >> you mentioned it today the greatest threat to free enterprise you buy that. >> 3 trillion of new tax for radical occupy protest movement. demonizing businesses is not a way to get out of the economic mess we're in. on the campaign trail warren says it's republicans in congress including scott brown standing in way of the economy. >> brown says you're a threat to free enterprise. >> i truly do believe scott brown will say all kinds of things but the reality is what i want is a level playing field where everybody gets a chance to compete. i believe in markets. i love markets. but markets work only when there's a level playing field and only when there's transparency about those transactions. >> the adds on the tv says you're trying to out middle class the other guy.
how do you win that fight. >> this is what i've been working on for the last 20 years. washington doesn't get it. the army of lobbyist and the army of lawyers i reached a point where i couldn't stand it any more and i through myself into this fight. >> after a high profile speech at the democratic national convention she's now leading in most poles and pushing her middle class message. >> massachusetts. >> the republicans have made it clear. you cut taxes for the richest slice at the top, and you let everybody else pick up the ticket. >> but brown's every man appeal will make him hard to beat he has a 55 percent approval rate. >> the republican of massachusetts in the middle of a presidential year so do the people of massachusetts. >> events like this brown talks about hissing will tons buck his own party. he was the decisive vote
backing john frank. >> that's one area professor warren and i agree on. >> despite his vote wall street is backing brown. he's raised 19 million himself. money that could be critical call in a race that could decide the balance of power in the u.s. senate. >> warren and brown faced off in their first debate this week. they have three more to go before election day. and even as wall street seeks to have its say in elizabeth warren's political future. markets are having an impact on president obama's political standing. if you want to know how the president is doing. forget the poles. take a look at stocks. >> the s&p 500 has risen and fallen so has the president's chances of reelection. when osama binladen was killed in may. the chances of winning spiked and the s&p 500 got a bump as
well. in august things took a turn for the worst for the president and stocks. in april 2012 at mitt romney emerged from the republican primaries the president's main challenger stocks were up and so were the president's odds of wins. the president got a bounce from the democratic national convention. so did his in trade odds the s&p 500 rose to its highest level since 2007. >> the same correlation held true for president george w. bush. coming next only one other man has faced barack obama in a presidential campaign. we'll talk to sensor john mccain on the election and his effort to prevent steep defense cuts. capitol gains is back after the break.
course. the $1.2 trillions in spending cuts at the end of the year that will be triggered without a budget deal. john mccain is a veteran of the campaign trail. i spoke with him and asked about his efforts to avoid the fiscal clip. >> everybody knows what the solution is. and that's set some goals. everybody knows that's the template for what we need to do. but nobody's ready to step forward so far. and i say as a partisan it does require some presidential leadership. the president's made it very clear that everything is going to be settled in docker after the election. those of us who have been around this town lame duck sessions don't do well. in fact they're usually disastrous. the only thing i think may happen. and i'm not an expert on this. but the markets may react as we get closer and closer to a situation where taxes are raised dramatically, the debt limit is -- i mean all these
draconian effects and the reason why we call it a fiscal cliff. >> there are a lot of republicans that didn't fully embrace similar son bolts. are you saying that you're ready to support that plan. >> i think we're prepared to support it as an outline. a as a broad outline for a solution. now, again when you talk about raising quote revenues or you're talking about closing loopholes, which we did in -- back in 86. the last time the tax code was simplified. and revenues went up because of the dynamics going part of it. even on the cbo who did you want do dynamics scoring may call it a revenue loss. but the fact is a simpler fairer tax code is something that every american that i've ever met are in favor of. and that means closing loopholes. no, i'm not ready to quote raise taxes. but i am ready to sit down and go over the hole area with
everything on the table so that we can fix this. >> do democrats finally have leverage here. the defense cuts that are out there that you warned about. leon has warned about. is this going to put the pressure to bear too again, force republicans that were reluctant to talk about revenue before can now put it on the table. >> i think peter, that we're talking about the fiscal cliff which means the bush tax cuts expire. and the debt limit is breeched etcetera. now the other part of this disaster that we're facing is a sequestration which is a trillion dollar cut on spending on both nondefense as well as defense. half a trillion on defense. which by the way is only 19 percent of the budget. but what the sequestration on defense will do in the words of the secretary of defense is devastate our national security. but most importantly, our uniform leaders who have said if this half trillion dollar cut in defense spending on top,
all ready of some 460 billion cuts that are all ready in train, that it will jeopardize national defense. what's our most important obligation? defending the nation. what's the president's most important job in commander and chief. we are begging the white house to sit down with us and try and avoid this. so far, no answer. >> is it irresponsible for this white house and this congress to leave town for the election right now without having this done. >> of course it is. you have to notify defense workers two months ahead of time. there's a likelihood on november first that lay off notices could gout go out to hundred of thousands of employees in the defense industry. we don't want to do that to people. >> you've walked in mitt romney's shoes of course as the nominee four years ago. what do you see happening there? is it slippage way for him. >> i think there have been difficult times hear. but i think the race is still
very close. and by the way, i remember in 2007 when i was declared dead and it was the worst campaign in history. and everybody was second guessing, they new what i should have done, well, we had an incredible resurrection. and ended up winning the nomination of my party. and frankly, those republicans taking shots at me when i was down didn't help my campaign at all. so everybody's free to comment, but why would republicans now try to harm a republican candidate for president of the united states? i've never been able to get that. >> my thanks to senator john mccain. still to come on capitol gains if you want to make connections in dc you need to know julia in glover. who is she? we'll take you coming up. worry about a grand budget bargain. exclusive analysis up next.