'This Week' Transcript: Tax Deal

KRUGMAN: ... 2 million jobs in 2012. That's the scary thing. What the -- what the -- you know, what the regression analysis actually say is, is the growth rate in the two quarters preceding the election that matter.

WILL: The argument -- the reason there's so much vitriol surrounding this is this comes at the end of a long list of liberal disappointments. I made a little list of them: card check for unions, not going to happen; climate change legislation, not going to happen; the EPA says we'll do it by regulation, they're now backing off those; Guantanamo Bay, still open; "don't ask/don't tell" not being repealed; Afghan war escalated; Federal pay frozen, which goes right at sort of the Republican theme that government is the problem.

AMANPOUR: START, maybe he -- maybe because of the negotiations with Jon Kyl, he'll come around on START?

KRUGMAN: I don't think any voters care about that.

AMANPOUR: No, the voters might not.



AMANPOUR: But the president has said that he wants it to happen...


ROBERTS: It might -- that might...

AMANPOUR: Will it happen?

ROBERTS: It might happen, but that's not going to appease the liberals in the House.

AMANPOUR: No, I know.

ROBERTS: But that's what George is talking about. And it's not just that their -- that their wish list is not fulfilled. It's that in many of those cases, the House has gone out and voted and the Senate has not, which has put them on a limb...

WILL: Precisely.

ROBERTS: ... which is why a lot of them walked (ph).

WILL: The big -- the big war in this town is not between Republicans and Democrats.

ROBERTS: It's between the House and Senate.

WILL: It's between the Democratic House members and the Democratic senators.


AMANPOUR: So do you think -- I mean, tomorrow starts the first round of votes on -- on this tax cut. Do you think that when it gets to the House, that he will -- that the president will get more than just -- just the number of Democrats he needs to -- to put it over? Or will he get many more than that?

DOWD: I think that he'll -- there will be some level of compromise, I'm sure, in this package. He'll get a package...

AMANPOUR: Where? Because David Axelrod said no.


DOWD: They may -- they may have to give -- they may have to give up on some of the estate tax cuts or something. There will be something...

AMANPOUR: He indicated no.

DOWD: But the interesting thing about this is, he will pass something and will get no political benefit from this. The president of the United States will get no political benefit from this until, at some point, the American public has confidence and that jobs are being added in this economy. He will not get a benefit from a...


KRUGMAN: Matt and I are in agreement on that.

ROBERTS: He would have gotten -- but he certainly would have gotten -- he would have gotten a detriment if it had not happened.

KRUGMAN: I don't know about that.

ROBERTS: Oh, if taxes went up in January, everybody -- who's in the White House?

KRUGMAN: I don't know that. I don't know that.

ROBERTS: Oh, I think there's only person (ph) at this point.

WILL: Might he have got some credit for this, if he hadn't come out and...


WILL: He came out and said the hostage-takers made me do it. The sanctimonious liberals...

DOWD: I agree with that.


WILL: ... and he just...

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