This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Cramer's 'Mad Money' Recap: CEOs Are Better Than Congressmen

Search Jim Cramer's "Mad Money" trading recommendations using our exclusive "Mad Money" Stock Screener.

NEW YORK ( TheStreet) -- Jim Cramer visited Washington Tuesday, but it wasn't for any vacation. He was there to talk with members of both parties in Congress about resolving the fiscal cliff.

The good news, or what little there is, is that Washington didn't seem okay with taking a vacation if a fiscal cliff isn't done, Cramer said, reminding viewers of his "No vacation without legislation" war cry.

However, "it didn't seem like Washington was willing to rise above politics and take the necessary action," Cramer said. "I hope I'm wrong."

CEOs are so much better to deal with than congressmen, he added. "I'm not feeling confident our leaders will be able to rise above" partisan politics and come up with a deal.

So the bottom line for investors, Cramer says: "I think we're going over the cliff, then we'll bounce back."

Investors, you have to ask yourself "can you handle the endless Washington intrusion in your portfolio? If you can't, no one will blame you for selling. It really is that bad down there," Cramer said.

North Dakota Pride

If there's one state Cramer loves because of the energy potential of the Bakken shale region, it's North Dakota. So Cramer talked to the Sen. John Hoeven, about whether than can be a deal that promotes small-business growth.

Hoeven, an advocate of finding bipartisan consensus, is an unusual Republican in that he did not sign a no-tax pledge.

"I think we can get a deal on the order of $4 trillion over 10 years" through a combination of tax reform and entitlement reform, Hoeven said. "That's what we need to get our economy going."

As governor of North Dakota, Hoeven was behind a tax code that is "fair and makes sense." He said the state's economic growth and budget surplus comes from economic growth and not from taxes.

The U.S. tax codes must be reformed in a pro-growth way, Hoeven said. We need to unleash entrepreneurial energy, "the small entrepreneurs are going to make a difference."

Cramer said of Hoeven that resolving the fiscal cliff has to do with spirit. "There's no rancor here, just pro-growth. Pro-growth gets the job done. Sen. Hoeven is speaking for a lot of people in trying to rise above." What's needed is leadership from President Obama, who must come out and say we're going to get this done.
1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
SKS $0.00 0.00%
AIG $54.84 -2.00%
YUM $80.60 1.10%
AAPL $94.19 -1.04%
FB $118.06 0.54%


Chart of I:DJI
DOW 17,651.26 -99.65 -0.56%
S&P 500 2,051.12 -12.25 -0.59%
NASDAQ 4,725.6390 -37.5850 -0.79%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs