TODAY | November 03, 2010
>>> back now at 7:44 with more on the midterm elections, republicans reclaimed ten seats in the house and picked up six seats in the senate. tom brokaw was up all night watching the results. the president is going to hold a news conference today, she's just had this stinging defeat. how does he communicate to the american people that he got the message?
>> it's helpful to be self-depry indicating, weather to -- we heard from harry reid , he's going to have to reach out. because it's a subset, we want you guys to get together and find a way out of this. they were sending a signal to the president by sending some very sharp critics of his to washington in the tea party votes but all the exit polls that we have looked at have said find a way to work together.
>> you reach out a hand, but if there's no one there to grab it, what do you do? let me play you a little bit of what john boehner said last night. it was a big night for him. it also turned out to be an emotion night for him, listen.
>> i have spent my whole life chasing the american dream . and when i saw -- core values of this great nation, i put my name forward and ran for office.
>> obviously emotional. he's the man now. so when that hand comes out from president obama , if it comes out, what does he do with it?
>> in his case, he continues to insist that he's going to have more transparency as the speaker, he's not going to be as rigidly partisan as he says that nancy pelosi was. he's going to have to deal with his own party as well. the first big test is the health care bill. tea party wants to repeal it. they're prepared to introduce a bill every day to repeal it. they're going to have to find a way to fix it because a lot of people believe it's broken across party lines . that's going to be the first big test.
>> the republicans in the tea party , they're coming to washington , smaller government, they want to cut spending. can they make the cuts in spending they have promised?
>> i don't think they k they can begin to make the government much more frugal and much more efficient. i think everybody would welcome that. but while defense is not on the table, senior citizens are not on the table, and the veterans are not on the table. you get up to 75% very quickly, matt. so they're going to have to find ways to get more efficiency. i think you're going to see more public-private enterprises going on in the next couple of years. but we're in for a tough time. the big question also is, with this new crowd in washington , how do you create jobs? what is the tax structure that you have to get, lowering corporate taxes is that part of it? because this is not a magic wand .
>> tom brokaw , good to see