"Compromise is synonymous with government," said Cote, adding now is the time to be responsible and not reckless by playing politics.
Cote said some try to confuse the issue of the budget with that of taxing the wealthy, but the issue is far, far bigger than that. He said if you wanted to fix the budget by taxing the rich alone, you would have to tax the top two tiers 108% of their income to do it. Clearly, a comprehensive solution is needed.
Cote called on the "radical middle," those 70% of Americans not tied to the fringes of our political system, to come together and get this problem solved. If we don't, he said, eventually the problem will be solved for us with a crisis far bigger than even the one we have today.
In the Lightning Round, Cramer was bullish on
Cramer was bearish on
Off the Charts
In the "Off the Charts" segment, Cramer went head to head with colleague Bob Lang over the chart of
(BA - Get Report)
, a stock which Cramer owns for his charitable trust,
Action Alerts PLUS
and one that is squarely in the crosshairs of the looming fiscal cliff.
Using a daily chart of Boeing, Lang noted that the price action has been strong and rising since the election earlier this month, indicating that the big money managers are starting to get into the stock. With a floor at $69 a share, Lang said investors have decent downside protection at these levels.
More importantly, Boeing's recent rally now puts the stock above its 10-day, 50-day and 200-day moving averages, which makes it an "up stock" in the eyes of technicians who follow it. The MACD indication also recently signaled a bullish crossover, further confirming that now is the time to buy, buy, buy even though technically, a failed budget deal would drastically cut defense spending and send the economy into recession.
Cramer said there's a tremendous buying cycle at hand in the aerospace world, as more and more airlines need to add more fuel efficient planes to their fleets. This cycle lasts for years, he said, which is why Boeing is one stock that can fly higher than even the fiscal cliff.
No Huddle Offense
In his "No Huddle Offense" segment, Cramer took a moment out to praise the management at
(HD - Get Report)
Dicks Sporting Goods
(DKS - Get Report)
for their remarkable earnings.
Cramer said that Home Depot has provided investors with both consistency and humility and is now set to ride the waves of a recovering housing market and the rebuilding effort after Hurricane Sandy.
As for Dicks, there too, management delivered for shareholders at a time when rivals like
failed miserably. Cramer said the 5% pop in same store sales was remarkable during a time when many are not necessarily in the market for expensive sneakers or outdoor sporting gear.
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-- Written by Scott Rutt in Washington, D.C.
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