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Some new information now on the looming fiscal cliff negotiations.
Strong words from Republican leadership after President Obama is opening bid.
The president wants one point six trillion dollars in new taxes fifty billion dollars in new stimulus spending.
And expanded powers for the president to raise the federal debt limit without.
Getting any approval from congress.
A senior house GOP source calls the president's plan quote absurd.
And provides a six point explanation to back it up so is the economy headed for that fiscal cliff is all of this negotiating.
Dead in the water let's bring in our panel Monica Crowley a radio talk show host in the author of Monica memo dot com.
-- were against -- -- former political advisor to senator Frank Lautenberg of New Jersey both are Fox News contributors.
You say that this president is not interest that interested in compromise.
At all -- I just wrote a whole book about this called what the -- happen right traced the first four years of his presidency and every single time John.
He -- proposed any kind of economic proposal -- fiscal proposal.
It is contained the exact same to the same elements which is.
Tax hikes more spending not less no entitlement reform and pushing up the debt limit as far and as fast as possible that this should come as no big surprise here it's not a big mystery who this guy is using pure -- -- Allowed -- will not compromise is Julie he ran on a catch up platform saying let's raised that.
Top two tax rates for the top earners in this country if he did that.
That would raise about 850 billion dollars in in revenues.
He keeps asking for a million 4000000000006.
He's asking for twice what he campaigned to.
Well first and foremost I think Republicans have to understand that have an election and the people to speak and that -- -- this was in the secret that he ran on but.
Allegedly did the people's say yeah god would give you double what is that you that you want 60% said they want taxes -- On those 2% that's -- -- -- -- -- I think a lot of this is completely -- in the part of the Republicans and the Democrats the president knows he's not gonna get.
This very aggressive position that he's -- authorities not gonna get that ultimately what he's doing smartly finally thank you Mr.
That for four years he's learned how to use the bully pulpit and he's now saying look.
These the start of the Republicans by compromising and saying let me survey giving you half below open and we moved to the you know government one point seven trillion dollars.
Excuse me beforehand.
During the fiscal budget talks of 2011.
And actually lower deficit of one point seven trillion dollars over ten years he's already compromise on that's what he's essentially saying now is.
Let's start my position Republicans you proposed that you want to propose and then we'll talk about it well.
Republican I don't know anything yet it -- excuse me Paul -- of the Republicans the past two years worth of budgets to deal with these series not the discipline the Republicans have plenty of plants on the table.
In terms of tax reform and entitlement reform and spending reform all of which we need to do.
This conversation assumes that the president doesn't want to go over the fiscal -- I just -- I think he does.
I think he wants all the tax rates to go up you can argue the politics of this but he needs the revenue to come and he's arguing for more spending not less he wants the one point two trillion dollars in defense cuts because he wants to cut the military.
And he wants an unlimited credit card.
In terms of being allowed unilaterally to to raise that debt limit.
He wants all of these things.
And he knows he's not gonna get blamed for.
The Republicans will -- plains where no matter what happens the GOP will get blamed for a because the media is protective of the president so he has nothing to lose John he's willing to go over the cliff and that's what.
I think what he's saying is if you want to take us over the cliff he will then vote with the Democrats and dare the Republicans to novel for this.
To lower taxes again for the 90% of Americans that would be affected by these top two marginal tax rates but I think he understands the politician at long last having just gotten realistic.
But I had to negotiate -- Washington he finally understands.
-- which you need to do is come and say this is my position Republicans to give us your position and we'll negotiate -- opposed to coming.
To the table saying John Boehner and he didn't think he's got what you want that that would work for the normal presidency except there's nothing in Obama's history or pastor pattern of behavior to suggest any compromise or can I'm sorry we had a grand bargain agreement -- Paul Ryan Eric Cantor torpedoed it last time so I think this.
President to show -- -- already lowered again.
There are a lot of Arnold was the one who pulled the rug out from an hour and a half and -- when he doubled the amount of revenue and tax -- and during the budget control act of 2011 the president did work with congress that lower to lower by one point seven still look at seven trillion dollars -- -- -- -- -- this president couldn't even get his own budget through the senate which -- zero votes zero Democrat votes -- what is the last time -- had any president submit a budget.
That was verbatim adopted by any house of congress never never happened in the history of this and I just I -- from his own as you'll ever got -- I have never seen a prelude to any kind of budget numbers -- -- past you said they didn't feel like fighting today oh yeah there thank you very good.
-- Monica will have you back again pleasure thank you Jenna.
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