Senator Erskine Bowles, co-chair of President Obama's debt reduction committee and author of Simpson-Bowles rules for fiscal deficit reduction, was on CNBC to discuss his views on the chances of a deal getting done in Washington and the fiscal cliff getting resolved.
-- He thinks there are good odds of a deal getting done on the fiscal cliff before the end of year.
-- Going over the fiscal cliff will be horrible.
-- We have to have both revenue and spending cuts to resolve this.
-- He said taxes will go up for the top 2% of Americans.
Here is the video:
About the author:
Dheeraj GroverI am an individual investor with deep interest in the field of value investing. My ideas and thinking is inspired by highly respected value investors like Ben Graham, Warren Buffett, Walter Schloss, Bill Ruane and Tweedy Browne