Who has the upper hand in 'fiscal cliff' negotiations?
Debate over talks between Obama, GOP
- Duration 4:37
- Date Nov 16, 2012
Debate over talks between Obama, GOP
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This transcript is automatically generated
Make sure that.
Feel we are able to cooperate together to work together.
Find some common ground.
Make some tough compromises.
Build some consensus.
To do the people's business and what folks are looking for.
And I think all of us agree on this it is fashion they wanna see that we are focused on them not focused on our politics here in Washington.
Right now the White House the president is meeting with congressional leaders in a push to avoid the so called fiscal cliff.
That comes January 1 that's when massive tax hikes and mandatory budget kicks budgets budget cuts kick in.
Taxes and cuts that could sink an already weak economy most economists agree on that.
So who has the upper hand at this point with time very much running out.
Monica Crowley and is a radio talk show host Julie were against -- former political advisor to senator Frank Lautenberg both are Fox News contributors and both are with us now also the president won the election his position seems to be.
Congress Republicans you need to do it my way.
Well this is a chess game and president the Democrats to control two of the major step of the three major chess pieces so it does seem that he has the upper hand but that's not to say that the Republicans should just cave -- and we're talking about two major sacred principles for the Republicans here not raising taxes and cutting spending getting government spending under control.
Both of those things need to be in play.
When John -- talks about raising revenue he's willing to do that if it only comes in the form of tax reform not raising tax rates.
But actually lowering tax rates closing loopholes broadening the base and you will get more money coming into the treasury.
But the other part of this equation that's so important that has been really not part of the public conversation.
Is cutting spending not just slowing the rate of growth that actually cutting spending to try to get this deficit under control.
Another Republicans don't control the narrative on this but I want to hear more from -- on that side of the equation of the equation -- you're nodding your -- I -- agree well angry part of a.
Monica sadly I think both sides need to come to the table enough already with these sort of you know showmanship -- -- -- in this people's either people's lives of others -- in this economy.
You know Monica is right in the sense the president does controlled upper hand at this point of the bush had nothing is done all the bush tax rates will expire.
You have exit polling coming out of this most recent elections and two thirds of the American people who voted.
Support raising some sort of tax is not everybody supports raising -- taxes and many People's Court raising taxes just on the upper.
What are 2% but people do understand.
That we need to contribute to the tax base in terms of higher tax revenue in terms of higher tax rates at least on the -- highest marginal tax rates.
You know at the same time you have a president that I think has already shown -- he's willing to compromise on the spending side he has put on the table as recently as a year and a half years ago.
To at least you sending to address Medicare spending -- address the security a lot of Democrats are happy with that but he did come to the table to do it in the grand bargain -- -- that we had a year and a half.
Your rug out from -- elect this president is fundamentally -- serious about cutting any spending this is a man -- delivered four years of record breaking four years of trillion dollar plus deficits ran out now -- sixteen point two trillion dollar.
He is not insisted it all in cutting spending.
The Republican the fault with the Republicans lies and allowing the president to grabbed a hold of the conversation and just be talking about tax rates.
Rather than actually talking about spending this country doesn't have a revenue problem penny of revenue coming in what we have -- a spending problem.
1 month alone last month John the month of October.
This government -- to -- -- twenty billion dollar deficit in just one month.
The spending has got to stop never -- revenues the American people are taxed enough this is about cutting spending here's the problem for their.
-- actually cure for John Boehner and he's got a caucus he's got Eric Cantor and Paul Ryan we're basically undermining anything he's gonna try to do in terms of negotiation -- Tea Party Grover Norquist.
-- -- -- -- -- No compromise no way no how that -- got governor is like Bob McDonnell in Virginia you've got that you know colleagues of ours that Bill Kristol certainly conservative.
Saying you know why don't we get off this whole notion of no way no how can at least talk -- -- potentially raising revenue rates on the upper upper upper earners here.
And you know and John Boehner is a fine because he's not gonna be able to do that not based on his own caucus on the president that's the problem is John Boehner is lack of control from his own party.
Here's John Boehner telling the president to show some leadership well we'll see and I hope John Boehner was in his pockets and it looks -- spent -- -- -- in the parking lot of this is actually right -- -- one economic -- you lower taxes.
-- and Monica thank you can't and we'll be right back.