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Jamie Colby and I'm here day for Chris -- while and there's a lot going on in Washington.
In fact we're gonna go right to Mike Emmanuel who's tracking what is going on in congress and with the president regarding the fiscal -- Mike.
I -- Texas Republican senator John -- who's a member of the leadership said a few moments ago.
That he thinks present Obama is trying to go over the fiscal cliff by wanting to raise taxes not cut spending.
And not offering a plan.
This in regard to the president's initial offering they came over yesterday.
Through secretary Tim Geithner now the president heading out to Pennsylvania today to sell his idea is Republican leadership in the house put out a video about a small business.
That would be hurt by a tax hike.
I'm Jerry -- people of course the engineering company.
-- -- -- -- subchapter S corporation so.
However good or bad we do is playing com.
This notion of 250000.
Top 2% or -- -- the wealthy people in America big ignores the -- most small businesses work in America.
-- I know the president is going to Pennsylvania to sell his ideas it is entirely possible.
We will hear from the speaker of the house John Boehner after the president makes his pitch -- -- get the Republicans have issues with the president's position what do you think they can really do about it obviously in congress.
In the house they have a little bit of power over Democrats but not in the senate.
-- had several members tell me today that this is really kind of the second quarter if you will of the game there's still plenty more back and forth to go.
Democrats are saying to the Republicans if you don't like the president's ideas.
Give us some ideas have your -- and specifically they're trying to force the Republicans to say what they want to do in terms of entitlement reform what they wanna cut from entitlements.
And what they want to do related to taxes.
House democratic leader Nancy Pelosi.
Is not talking about more spending cuts.
President has been clear and we support him.
-- holding firm to the 250 tax cuts.
Expiration of tax cuts for people making over 250000.
Dollars a year.
-- the -- of the big bold and balanced package.
That has big cuts we've already voted for over a trillion dollars.
Revenues are needed and job creation is essential to reducing the deficit.
Now one weapon the administration has is Treasury Secretary Tim Geithner can essentially.
Tell the country.
To set the withholding rates for those making 250000 dollars to hold them.
At the current level so if congress and the White House -- not reach a deal on extending the bush tax cuts for the middle classes as the White House has been pitching.
It is possible there is a weapon that Tim Geithner could use in effect to.
Make sure that it continues for just those making up to 250 K -- It's Friday they gonna work a full day today Mike.
Doubtful I think they're smelling the jet fumes to -- fly home to their individual districts.
-- Mike Emanuel who will work the whole day great to see you Mike thank you didn't have a good weekend too.
You can by the way I should mention that Treasury Secretary Timothy Geithner will be joining our own Chris Wallace on FOX News Sunday this Sunday that should be a fascinating.
We're keeping on top of the fiscal clip for you as it approaches.
I sure -- -- is -- this right now for roll call dot com Scherer good morning.
Good morning thank you for having me well you know we're looking for bipartisanship.
This go around with President Obama what are the chances.
Well in the -- there will need to be some bipartisanship because that's just part of the negotiation.
When you have a Republican.
And Republicans controlling the house Democrats controlling the senate and the White House.
They are going to need to come together and find some common ground if they want to avert this fiscal -- What it's going to look like that's still very much in the air as your reporter just described how can how can each side.
Push their talking points there bullet points of what they'd like to see happen to better the economy.
Right so there is -- Levels of negotiation right now I think there's been very public negotiation where you have the president.
Going out to southeastern Pennsylvania.
And speaking for that toy maker and also the Republican response to that with a small -- talking about how these.
Tax increases that hurt him and that's a very public level.
So on the private level I think that's where the real discussions are actually taking place these.
The distaff at shuttling back and forth from the White House to Capitol Hill and back again.
And Timothy Geithner obviously is playing a key role in that.
But he played a key role in the first four years in the administration do you think Tennessee guide nor the president will take a different approach to what we've seen so far.
Their first offer gives no indication of that they definitely shot for the stars in their first offer which was revealed yesterday.
-- news reports Republicans scoffed at it they laughed in some cases they said this is ridiculous this is very far from common ground at all it was kind of a democratic wish list.
Wish list of what they wish this package would look like to so far they haven't shown that.
That's said the president has a lot of faith and Timothy Geithner and some Republicans for example house speaker John Boehner says some nice things about Timothy Geithner in the past he says and not -- nice things as well the but he has been somewhat complimentary on some of this negotiating skills you know what's truly interesting shared to me is that this election happened at a time that folks knew the fiscal cliff was coming.
Do you think given the results of this election.
And the president's reelection.
That America wants more of the same or do you think they just had.
-- that changes would come that would turn the economy around.
If you bring up a good point that it is was very much -- status quo election and we did not see major change in the house.
Or the senate -- -- the White House obviously there was no change but I think the issues discussed during the election didn't focus that much on the fiscal -- I think the president is boosted by his own reelection I think he's trying to use that a lot of the bargaining table saying the American people have voted for me -- get -- elected -- not your party and therefore -- should have the upper hand here that's the only -- I'm really seeing the presidential.
Campaign to lead into these discussions to the president goes to Pennsylvania today to talk.
We know that listen.
Companies like hostess.
Led off thousands of people we could see more layoffs -- -- we'll see a little boost in retail sales over the holidays but who knows what will happen after that.
What kind of response do you think he'll get from the people that he'll be meeting with today they're not always handpicked in the audience.
-- may be some questions that are tough to answer don't you thanks.
-- -- and it depends as you pointed out whether or not they hand pick a lot of the people in this audience and what kind of event it is.
And that town hall events he's done you remember especially during the health care debate he got a lot of challenging kind of off the cuff questions.
I doubt this will be that kind of event I think it'll be much more control.
But if we do -- that this Bill Clinton or congress decides -- pass a small package that kind of pushes the fiscal -- down the road a little bit.
Then I think you'll see a lot of tough questions in voters will be very angry and I think even.
Even Americans who are concerned about their talk about -- watching this situation overseas as well the instability certainly in a number of countries in the Middle East and in Europe.
Could affect our economy as well is that something your tracking two.
I'm a little bit but right now our focus is really what's going on on Capitol Hill yes the international markets are feeling the heat from what's going on here.
But we'll see there's still potential for them to strike a deal.
The question is it going to be a short deal where's -- gonna be a bad deal so we'll see what happens at the end of the month right we certainly hope we'll see what happens by the end of the month as we approach the fiscal cliff shared top -- -- roll call thank you so much.
Well we're gonna take a quick break thanks for joining us some power -- -- Jamie Colby again in for Chris star while much more ahead stay right where you are.
Welcome back everybody so what is President Obama do as congress debates what to do about the economy in the upcoming fiscal cliff.
Let's check with Ed Henry right now as -- president makes -- way to Pennsylvania hey -- Crazy gave even no mention president will be -- talking basically it toy factory had just before the holidays trying to do talk up -- The whole situation with the fiscal cliff and -- press his proposal what we know so far but his proposal is that Republicans are saying it's a non starter.
Basically this is what Treasury Secretary Tim Geithner laid on the table yesterday with Republican leaders.
-- specifically about one point six trillion dollars in new taxes Republicans say that's a non starter because.
They say the president campaigned on raising taxes of about 800 billion dollars in the campaign.
But they think now he's trying to expand the mandated fuel like doubling the amount of tax increases they also note that -- this is a conversation about.
Deficits and debt.
The president's -- proposal laid out about fifty billion dollars in new spending in 2013.
Different initiatives the president also talked about in the campaign Republicans view their view on the hill as.
Look we're supposed to be talking here about reining in these deficits not adding to it.
With new spending when you're here for the president today is two things number one is that we need to do some of that spending even as in the long term the debt comes down -- -- some short term spending to keep the economy going and number two he's gonna say the real sticking point here among Republicans.
Is -- they don't wanna raise taxes on the rich the president again will make the case she ran on that the campaign he won he believes he is a mandate on that moving forward.
He's gonna continue to press Republicans on that point -- to take a step back from the rhetoric on both sides.
Basically they're laying out positions we've known both parties have had for a long time on taxes and spending.
And very little has changed during these negotiations and meanwhile.
We are edging closer and closer to that fiscal cliff so if you're looking for some progress I don't think you're seeing -- yet this morning.
-- deficit head and the need to raise the limit how we can't just keep accumulating the deficit or do you think they'll be discussions as well on May be setting a new limit.
Well you know the bottom line is that the president did something this week and is negotiating strategy where he was trying to say basically let's do this is a two step procedure where.
We deal with the taxes changes.
The middle class getting their tax cuts extended the bush tax rates basically.
And that the rich getting their taxes increase.
And then once we deal with that let's deal with the spending cuts down the road next year that will deal with the debt the deficit problem that you mentioned Jamie for the Republicans are pushing back by saying look.
They've seen this before where taxes go up and you have a deal on that.
And then when you promise to come back to three months down the road actually cut spending and do something about the long term debt.
Congress has -- habit of not actually following up.
Handing out more pork projects increasing more stimulus spending and not actually raining in the debt and so again that's why I think these talks are are stalled because the president is focused.
-- trying to make sure he gets that tax increase on the rich city campaigned on.
The Republicans are saying okay we're -- -- make some concessions on that but we also want you to make concessions on spending cuts they haven't seen the president do that -- -- And because the president's going to Pennsylvania Mike Emmanuel and I were talking about this before -- I went to you read I'm just curious.
Are those audiences at those companies are factories hand -- What.
Ahtisaari handpicked by the White House but certainly handpicked by the company because they'll decide.
You have to bring you got employees are bringing out special guests and oftentimes.
The local senator congressman won't -- people and so.
They might not be completely -- -- like this is my guy but at the end of the day when they're picked by the local leaders the -- -- to be.
Appearing with who are Democrats -- likely going to be people who support the president's plan so I think it's highly likely -- have people in this audience.
Who were against what the president calls a balanced approach but.
You know what also say look he's -- time he won the election.
He's going out to the American people now because negotiations are stalled here in Washington Republicans like to say he's campaigning he's not governing -- -- and they're complaining.
Other beating up on him but the White House is saying look he's -- -- as president to go out take his case to the American people supporters opposition whoever it may be.
And try to explain to the American people that he needs their help.
To try to break the deadlock back here in Washington.
You know we're getting a little help today -- from four RO tax burden and spending bottom line I'm gonna bring you this alert here we now know that one of the two it's not you -- me clearly.
Is a 52 year old mechanic who bought his ticket.
At a Dearborn gas station he and his wife Cindy according to the Associated Press we'll share that record 588.
Million dollar powerball.
Jackpot maybe next time my friend.
Yeah that's right you know that's one case where I would not mind paying more taxes if I had.
It's like 500 million dollars -- the power while I'll pay taxes like Mike -- I'll bet I got a tax impact.
I got -- as what our families be happy anyway have a great day have a good weekend to see him.
We're gonna take a quick break right now we'll keep you post and all the president's travels and the congressional activity there's also big vote going on on immigration today much more ahead.
Right here -- power play.
I'm Jamie -- great to have you with us today let's go straight to our guests to talk a little about what Mike and -- we're talking about the fiscal cliff what's -- on in congress.
The chance for bipartisanship.
A joining me now Christiane -- Ramos is a policy advisor at the new Democrat network great to see you Christiane.
Great to be with you today and Ford O'Connell is here as well former McCain Palin presidential campaign advisor chairman cinematic form.
-- -- After large -- but -- yeah.
-- you know you've accumulated even more expertise in title since I saw you last great to have both today.
-- -- -- -- -- Well Christiane you first what do you expect will happen in congress probably shortened day today on a Friday they wanna get back to their districts for the weekend.
-- congress look I think we just need to really explore the contours of -- debate right now I think and get a great job sort of outlining exactly.
What the president wants to do here in the plan that he proposes and he wants to invest in the middle class he wants -- invest in middle.
In infrastructure and continue to help our economy to grow and on the other side of this we have -- House Republicans adamantly saying no way Jose on any of this stuff and at the same time.
We really really really don't want the that you present in this country and pay their fair share in taxes they're really gonna do everything they -- to protect that the end of the day.
I would say that you know there's no surprises here and this is gonna come down to the wire no surprise there either and at the end of the day.
I think there will be a deal but the question is really -- -- on the specific.
It's sort of -- behind the eight ball in terms of covering this spending that's gone on over the last four years and even before that.
That even if the rich pay more in taxes.
More will become even more.
Well let me let me say this the president has a better chance of winning the next powerball jackpot but it doesn't -- in his first proposals through -- a joke you're absolutely right.
Look -- sixteen trillion in debt.
We were running age fifteen billion dollar deficit in Social Security right now the administration doesn't want admitted that the deficit driver we've got it we've got to reform entitlement spending in that it -- that house Republicans are right.
We know we're gonna have to give -- on some revenues the question is is that the president needed in this senate Democrats did to show some leadership.
And tell us what it is we're gonna -- we they have to remember that's the burden of leadership.
Coming up -- how we're gonna do this and if we do not bring you know rain -- our -- we're in some serious trouble.
Let's practice yeah.
Let me just sort of articulate.
Little a little bit of what you're saying it in a different -- This round of negotiations that happening right now before the at December 31 deadline.
Is all about the middle class tax cuts is all about making sure the middle class continues to pay the tax rates -- they are.
Now as opposed to having them rise in January 31.
After December 31 they will have a good morning good.
She -- we will see guys song and dance before it never happens we do this okay in this is not about the middle class you want to say it is about the middle class is about continuing our -- Out of control spending.
Part of the proposal you're asking is for no limit on the debt -- you gotta be kidding me we're sixteen trillion in debt and all you wanted to do was spend.
And I understand that we need to protect -- 98%.
And pass the bush tax cuts for the house Republicans would be fools to do that if they don't give up promise.
From for greater spending cuts and really they just want to walk right by this.
We're sixteen trillion in debt Jamie in in essentially.
Senate Democrats don't wanna touch entitlements because -- in the hands.
For the unions and the ARP.
And unfortunately special interest -- control of the democrats' actions they talk to our -- no tax pledge but they really have a the no -- pledged its just they just didn't sign the law other just rest just out of proceeding.
Totals add to that also Christiane promises that were made in this campaign about entitlements being available about kids being able to go to college.
The debt ceiling is rising rising rising -- not good.
I had one of the one of the great minutes I think that is is out there right now that that.
House Republicans -- to keep saying is that.
The president is not willing to cut entitlements he has cut entitlements in the past you had some cuts to Medicare Social Security on the table a lot of this stuff this is out there but he's going to do -- the real issue here on the other side of style is.
Republicans refuse to say would they want to cut.
Entitlements they say we did we didn't the Ryan budget you guys just totally let -- we will -- about it a little.
-- -- wanna -- like nothing you can hear music that's artist should know better.
-- -- you if the Ryan budget did not get Ryan elected.
Do you expect Republicans.
To come back with plan big.
That's a great -- I think they're going to have to come back with a plan B but I do think that the president needs -- -- for the budget first remember.
The president's budget didn't get a single vote the democratic controlled senate and frankly in his budget that didn't even get a -- from his own party it actually had more costly entitlement to what he's proposing right now.
And the Ryan budget truth it might have been a Republican budget -- still got votes within his party in fact it got us.
Have a lot more votes and I think the president's not being honest he's not taking up the mantle of leadership you we elected a campaign or -- and we're not -- a leader really.
But it didn't get a vote in in in the senate candidate because it was dead on arrival in the house there was no it it was going forward anyway the Republicans.
Day one has said no they've taken the town will conduct -- mantle here as the doctor knows of the American.
-- -- -- elect American political system the reality is they say no.
They -- no way we're never gonna raise rates on on.
Christiane you guys are not being honest the Washington Post which is not exactly a conservative bastion basically called on the president to take some leadership with respect to reining in entitlement.
People don't understand -- entitlements are 62 to 65% of the federal budget.
In its ballooning by the hour if we don't -- this and we're gonna keep continue taking the pedestrian basically let me president decided that I want unlimited credit card to increase.
Wish you good at what do you think that the cuts made in the Paul Ryan budget.
Our would rein in those deficits and isn't isn't necessary password forward for the house Republicans and he had -- I'd hate to certain -- answer that one play because I wanna move onto another topic.
Yes Christiane I assume that they did believe that or they wouldn't have proposed that because that was the issue at hand but as I would love to have that debate.
You know what I'll let you guys that -- of the race but before we do want to play some sound.
Susan Collins senator was interviewed by Greta van session on our meeting Chad wind ambassador -- rice.
And whether or not her her position is that she would be a great candidate.
For secretary of state and other points about Susan -- is goings on in the last couple of months let's take a listen then we'll talk about it.
I believe that the White House asked her -- -- mind.
Because they felt that she would emphasize.
The point it's.
That's the Obama administration wants to visit and besides that I blacked out of the meeting -- that pros.
Found sense of disappointment.
All right that was the senator they're talking about that of course that's about when Susan Rice came out days almost a week after talking about the fact that there was a video that -- -- uprising at the Ben Ghazi.
And the deaths of four Americans including our ambassador.
Guys what do you think's going to happen with Susan Rice exports but I.
-- -- I think this is Susan Rice isn't the issue I think the administration's the issue basically she was a yes woman for the administration.
And you look.
The administration pres Obama admitted in the second debate that he knew within that within a day that it was a terrorist attacked him and -- -- yet he sent her out there on the Sunday morning shows why didn't he send out.
Secretary Clinton why did he send out secretary Panetta or even David Petraeus would be better fit to discusses the bottom line is the administration picked her after -- -- gonna -- the line if she wants to be the secretary of state she needs into the nation's top diplomat she needs not just -- woman she's a video act in the interest the American people we still have Ford dead Americans.
And no questions.
Well we don't know whether -- Christian why don't we know for sure this is -- -- what Susan Rice was told to do what information she was provided and -- it lingered for so many days.
When it wasn't Atrix.
This is well true based -- -- terrain here on on Fox News you guys have talked about this -- -- and and there's been a lot.
Disgusting I just want to highlight everything race.
Can you blame us for talking about and -- no.
-- -- -- -- -- -- -- I didn't you know answer my -- is still not poison right.
If for Americans are dead and Susan Rice said that it was something other than what was known to be the truth.
Why shouldn't we talk about it.
Susan Rice is talking points that she used in the congressional testimony and also in front of the the Sunday talk shows.
We're ridden by the intelligence community.
The White House and the intelligence community at all said that the talking -- today she was given had.
The terrorists and al-Qaeda stricken from the notes that she was given that the for.
There are generated zero.
Talking -- warrant truth she continues is she still continue to hold the party line and that's why she was -- Is doing so -- -- -- call anyone it is they were always heard and she went out and said it anyway do you think Secretary Clinton would have done the same thing yeah.
Susan Rice has absolutely nothing to do with the security of the in the bad -- the attacks on a serious candidate mark why did you say how -- you just made my point TI did you Cinderella yeah.
Browser to -- -- -- that the GOP house Republicans have slashed the budget.
For the that has nothing to do with anything the bottom line is.
Why did you send her out there to to do this city's center around there really do want to follow the party line and basically hey that's -- Honestly look after everybody hard everybody would know -- -- is that -- in the administration sending the.
Not there are others in is -- Obama administration and any other administration that could easily be asked to go out and read bullet points.
-- talking points they do it all the time why was she chosen.
Is is he knew anything differently why didn't she come back out and does that make her final question -- free to view.
It could candidate for secretary of state will she be able to do the job without being told what to say.
I don't think yeah.
Well you think she'll be -- it does look she's proven that she can handle.
A lot look animosity symbolically at home and abroad and is a leader at the UN and and furthermore she really passionately believes it in in a robust.
Foreign policy from the US were shedding light at -- -- first dance on and on a lot of these issues is not much different from somebody like say Senator John McCain and I think a lot of this stuff.
That the McCain in the -- some of these guys are coming out and attacking Iran as low -- do it day as saying it.
-- senate seat in masses and it doesn't raise your business or actually.
It's funny seconds let's wrap it up you get the -- if the president wants supporter -- she should get a confirmation hearing but if she doesn't explain herself and she's just proving herself once again to be yes woman then she should not be the next secretary of state it's really that simple.
Our guys got to leave -- there great spirited discussion good to have -- here -- power
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