CNN's GUT CHECK | for November 9, 2012 | 5 p.m.
– n. a pause to assess the state, progress or condition of the political news cycle
BREAKING: CIA DIRECTOR DAVID PETRAEUS SUBMITS RESIGNATION OVER EXTRAMARITAL AFFAIR… Petraeus issued a statement announcing his resignation, saying, “After being married for over 37 years, I showed extremely poor judgment by engaging in an extramarital affair.” He continues: “Such behavior is unacceptable, both as a husband and as the leader of an organization such as ours. This afternoon, the president graciously accepted my resignation.”
DEVELOPING: FISCAL CLIFF NEGOTIATIONS BEGIN… ON TELEVISION
– Obama: ‘I am not wedded to every detail of my plan’ –
PRESIDENT BARACK OBAMA AT A WHITE HOUSE EVENT: “I want to be clear, I am not wedded to every detail of my plan. I am open to compromise. I am open to new ideas. I am committed to solving our fiscal challenges. But I refuse to accept any approach that isn’t balanced. I am not going to ask students and seniors and middle class families to pay down the entire deficit while people like me making over $250,000 aren’t asked to pay a dime more in taxes. I am not going to do that.”
– Boehner heralds ‘lowering rates and cleaning up the tax code’ –
SPEAKER JOHN BOEHNER AT A CAPITOL HILL PRESS CONFERENCE: “By lowering rates and cleaning up the tax code, we know that we're going to get more economic growth. It'll bring jobs back to America. It will bring more revenue. We also know that if we clean up the code – make it simpler – the tax code will be more efficient. The current code only collects about 85% of what's due the government and it's clear that if you have a simpler, cleaner, fairer tax code that efficiency, the effectiveness and efficiency of the tax code increases exponentially.”
– For GOP, it is tax revenues, not tax increases –
ALI VELSHI, CNN'S CHIEF BUSINESS CORRESPONDENT: “Either you are accepting tax increases or you are not. Long term tax reform is not going to get done between now and December 31. …We have to be careful, in the next few weeks we are going to hear a lot of smoke and mirrors, tax revenues is what the Republicans are saying they will accept, not tax increases.”
BIG WEEK AHEAD: The President will hold a press conference on Wednesday in the East Room. And, on Friday, the President meets with congressional leaders at the White House. The leaders invited are Senate Majority Leader Harry Reid, Senate Minority Leader Mitch McConnell, House Speaker John Boehner and House Minority Leader Nancy Pelosi.
The first foreign trip by a president occurred on this day in history. Who was president and where did he go?
We quickly quick pivot from the 2012 elections, which now appears in our rear view mirror, and focus on the road ahead: the fiscal cliff. There is so much at stake, beyond the partisan politics, with the nation and world leaders watching Washington to see if Democrats and Republicans can come together, and dare we say reach a compromise?
There will be many pieces that need to come together for an agreement to be reached, but one of the most important will be the personalities and that’s why CNN Chief White House Correspondent Jessica Yellin’s analysis on the fiscal cliff caught our eye. The grand negotiators will be President Obama and House Speaker John Boehner, both of whom will feel pressure to dig in at the same time facing the stark reality that each side will be forced to give something to reach an agreement.
Yellin notes Obama and Boehner spoke after the election where they discussed the need for each to speak carefully in public to leave room to cut a deal in private.
And as Yellin writes, “There's not much time to negotiate. In the days between now and the new year, the nation's leaders will face three events in quick succession:
First, the Bush-era tax cuts will expire on December 31, triggering a return to higher Clinton-era rates unless new policy is set.
Second, $1.2 trillion of painful automatic budget cuts will be triggered - the "sequester" - unless Congress finds a way to bring that sum into the nation's coffers.
Third, the country will hit a new debt ceiling mid-spring. These events, especially the sequester, could have a devastating impact on the economy, pushing it over the fiscal cliff.
The question is will both parties be able to put the partisanship of the campaign year aside to compromise – quickly.
Did you miss it?
Leading CNNPolitics: Another Bush flirts with office in Texas
George P. Bush, the nephew of former President George W. Bush and son of former Florida Gov. Jeb Bush, this week filed paperwork required to run for office in the state of Texas. The 36-year-old attorney hand-delivered the document Wednesday to the Texas Ethics Commission, the agency that oversees campaigns for state offices, including state senators, state legislators and statewide positions. It's unclear which office Bush is seeking, but more may be known by January 15, when campaign finance reports are due to the commission. – Ashley Killough
Leading Drudge: The New America
In the wake of GOP presidential candidate Mitt Romney's loss, the Republican Party has spent the week talking about reshaping their identity to appeal more broadly to American voters. Friday, former Secretary of State during the Bush administration, Condoleezza Rice, joined "CBS This Morning" to look ahead at her party's future and shared some foreign policy advice with President Obama.
Leading HuffPo: No Regrets
Florida Gov. Rick Scott (R) is standing by his decision not to extend early voting hours, despite the fact that some voters said they waited as long as nine hours to cast a ballot. "Well, I'm very comfortable that the right thing happened," he told WXMG Orlando while speaking with reporters on Thursday night. "We had 4.4 million people vote." – Luke Johnson
Leading Politico: John Boehner on taxes: Your move, Obama
Speaker John Boehner again tried to shift responsibility for the looming fiscal cliff to President Barack Obama, saying expiring tax rates and trillions of dollars in spending cuts are mostly his to solve. “This is an opportunity for the president to lead,” Boehner said Friday in the Capitol. “This is his moment to engage the Congress and work toward a solution that can pass both chambers.” – Jake Sherman
Leading The New York Times: For Romney, All His Career Options Are Still Open. Except One.
They predict he will write a book, convinced that the daily diary he kept on the campaign trail would make for a compelling read. They speculate that he will return to the corridors of finance, where his reputation as a savvy chief executive and investor remains unblemished. They suspect that he could take on a major role in the Mormon Church, picking up where he left off two decades ago. In conversations over the past 24 hours, friends, aides and advisers to Mitt Romney have begun turning their attention to an issue that until now they have never had to consider: his next move. – Michael Barbaro
Leading CNN Money: Two million jobless set to lose unemployment benefits
More than 2 million jobless Americans will lose their federal unemployment insurance during the holidays if Congress doesn't extend the deadline to file for extended benefits. – Tami Luhby
The political bites of the day
– Obama: I have America on my side! –
PRESIDENT BARACK OBAMA AT A WHITE HOUSE EVENT: “This was a central question during the election. It was debated over and over again and on Tuesday night, we found out that the majority of Americans agree with my approach and that includes Democrats, Independents and a lot of Republicans across the country as well as independent economists and budget experts. That's how you reduce the deficit; with a balanced approach so our job now is to get a majority in Congress to reflect the will of the American people.”
– Boehner says the buck’s in the president’s court –
SPEAKER OF THE HOUSE JOHN BOEHNER AT A CAPITOL HILL PRESS CONFERENCE: “Clearly the deficit is a drag on our economy and we can’t continue to spend money that we don’t have. I don’t want to box myself in and I don’t want to box anyone else in. I think it is important for us to come to an agreement with the president but this is his opportunity to lead.”
–McConnell: We’re waiting…. –
SENATE MINORITY LEADER MITCH MCCONNELL IN A STATEMENT: "I was glad to hear the President's focus on jobs and growth and his call for consensus. But there is no consensus on raising tax rates, which would undermine the jobs and growth we all believe are important to our economy. While I appreciate and share the President's desire to put the election behind us, the fact is we still have yet to hear an actual plan from the President for addressing the great economic challenges we face. What's needed now is a realistic and specific proposal from the President that can actually pass the Congress. … The President has a duty to lead. We implore him again to do so."
– Rice blames mixed messages, media for Republican defeat –
FORMER SECRETARY OF STATE CONDOLEEZZA RICE IN AN INTERVIEW ON CBS “THIS MORNING”: “On the immigration issue, which turned out to be very important, and some issues about women too, some mixed messages were sent. And when you send mixed messages through the narrow funnel that is the media spotlight sometimes people hear only one side of that message.”
– The White House = a downsize –
JAY LENO JOKES ABOUT MITT ROMNEY ON HIS LATE NIGHT NBC TALK SHOW: “There is one silver lining about Mitt Romney losing the election. At least now, he doesn't have to move into a smaller house.”
What stopped us in 140 characters or less
Robert Yoon (@yoonCNN)
Geithner staying at Treasury through inauguration, per CNNMoney's @JenLiberto http://money.cnn.com/2012/11/09/news/economy/geithner-staying/index.html
Robert Reich (@RBReich)
Boehner can say what he wants about taxes. Obama's bargaining chip: If R's won't deal, Bush tax cuts end automatically Jan 1.
Olivier Knox (@OKnox)
One heck of a post-election pivot to Asia: SecDef Panetta, SecState Clinton, Pres Obama all heading there in next week or so.
Brad Dayspring (@BDayspring)
Warning flare: Obama nearly won Cubans, according to exit polling. Romney won 52-48, a #GOP Decrease http://ow.ly/f9LFq
Maggie Haberman (@maggiepolitico)
Re-upping w/@aburnspolitico, Romney officials were getting vote data from local officials and http://CNN.com http://www.politico.com/blogs/burns-haberman/2012/11/romneys-fail-whale-orca-the-votetracker-149098.html
Steve Inskeep (@NPRinskeep)
Conservative activist Richard Viguerie on GOP future: "The most effective way to reach minorities is to run minorities." @MorningEdition
Nick Confessore (@nickconfessore)
"I will not fall off the map." The inimitable @mikiebarb on Romney's next step. http://nyti.ms/VXsSEk
Daniel Strauss (@DanielStrauss4)
Quietly, the Secret Service put in place security plans for all 29 members of Romney's family. http://www.gq.com/news-politics/blogs/death-race/2012/11/how-the-secret-service-said-goodbye-to-mitt-romney.html …
TRIVIA ANSWER from (@DanMericaCNN)
President Theodore Roosevelt’s trip to Panama on November 9, 1906, was the first foreign trip ever taken by a U.S. president.
Aboard the battleship Louisiana, Roosevelt traveled to Panama to visit the Panama Canal project, where U.S.-led construction looked to make it easier for ships to cross the Isthmus of Panama. Three years before Roosevelt’s visit, the U.S. military successfully supported a Panamanian revolt against Colombia.
Following Roosevelt’s visit, the president traveled to Puerto Rico, a U.S. territory.
GUT CHECK WINNER’S CIRCLE
(why aren’t you in it)
We will call it a tie. Evan Goldstein (@egoldstein93) correctly identified that the trip involved Theodore Roosevelt, but Peter Ubertaccio (@ProfessorU) was the first to get the entire question correctly. Adam Sharp (@AdamS) was a close second. Happy Friday all.
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