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Geithner to head 'fiscal cliff' talks with Congress

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    Peter Doocy reports from Washington, D.C.

  • Duration 4:12
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-- -- on Fox News alert just so goes at bay hill today to meet with Republicans.

Treasury Secretary Tim Geithner he's the president's point man in talks to avoid the fiscal avalanche.

-- it was a fiscal -- but now we're going to fiscal bigger than that avalanche because it's snowballing folks.

Good morning everybody that's right I'm bill.

Do not meet her half sister works -- let's hope island are you doing now is why everybody I'm Martha McAllen -- adding to that tension.

There already some rumblings that the president wants to strike a deal.

On the tax hikes on the wealthy now.

But doesn't wanna deal with any entitlement no changes in entitlements -- perhaps some time in the new year listen to this exchange that happened between our Ed Henry.

And -- -- Press Secretary Jay Carney on that.

You're not having any spending cuts now you want to -- spending cuts next year is that -- fact.

Look I think no it's not fact I think that these are all parts.

Aspects of constant conversations that are ongoing.

Republicans are willing to put revenue on the table but it's time for the president and Democrats to get serious.

About the spending problem.

Of that our country yeah it's all right now Peter -- is live in the north lawn White House there -- good morning it was their movement on a deal over -- Peter.

-- bill it sounds like things might be stuck because a senior administration official just told us that President Obama and speaker Boehner.

Had a phone call last night and Politico is reporting.

That that phone call was hurt and they're saying that on the call speaker Boehner told the president to leave tax rates for the rich alone but the president said.

-- has wanna do that he's gonna stick with its plan to raise one point six trillion dollars in new revenue and -- if the Republicans have something better.

They should get specific now and this comes at the house majority leader Eric Cantor says.

Republicans are already going further than they did in this same spot and when he ten.

We have.

Done our part we have put revenues on the table something that we.

Didn't do two years ago during the debt ceiling negotiations.

We've seen some.

Positive developments in the last several weeks.

In terms of what Republicans have been saying about.

The need for revenue as part of a balanced package.

The president will continue to make the case that that is essential.

So both sides saying revenues on the table now the fight is obviously to figure out.

Where it's gonna come from how the government is going to make more money Democrats want someone -- to come from increased tax rates on the rich Republicans though would prefer.

To do it to make that extra money by reforming the tax code and entitlements the -- about the politics of this house the president trying to rally the public around his ideas Peter.

In part with a hash tags my two K because the White House is saying that if the US.

Goes off the fiscal -- that'll cost the average middle class Stanley twenty -- Hundred dollars a year and they want middle class social media users Twitter users who don't want that to happen to get online right now.

So today I'm asking congress to listen to the people who sent us here to serve.

I'm asking Americans all across the country to make your voice heard.

-- members of congress what a 2000 dollar tax -- would mean to you.

Call your members of congress write them an email.

Posted on their FaceBook walls.

You can tweet it using the hash tag it my two -- And as you heard at the top of the show Treasury Secretary Tim Geithner is -- be on the hill today one of his meetings will be with Senate Minority Leader Mitch McConnell.

Whose spokesman just emailed me quote we are eager to hear.

The administration's specific plans for protecting jobs and growth while reducing the national debt through strengthening the entitlement system reducing Washington spending.

And preventing a tax hike on every American tax.

-- so -- the two sides are talking to each other but does sound like we're a little ways away.

From them coming up with anything to send to the president's desk for him to sign almost December we -- line Peter thank you and a big law.

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