Also in this playlist...
This transcript is automatically generated
-- now house Republicans are putting their offer on the table to cut the -- to sit and avoid the fiscal cliff calls for collecting an additional.
800 billion dollars in revenue over ten year -- Without raising tax rates.
And that's balanced by the reduction of 800 billion dollars in spending.
From federal programs a lot of ins and -- there we just try to boil it down for you because in all the Republican plan.
We'll cut the deficit by one point six trillion dollars so far.
Democrats are uninspired by this here's a democratic congressman Chris van Holland in Maryland had to say last night and special report.
The big difference -- between the way the president has proposed to deal with Medicare and and the Republicans the Republican plan their definition of reform.
Is simply to -- rising health care cost onto the backs of seniors.
Our view is you can modernize the Medicare system to change the incentives to move towards his system it's not strictly free for service.
-- -- Cathy McMorris Rodgers of Washington State chairs the house Republican congress so congresswoman is that what you're trying to do you.
You know where we are about saving these entitlements read the Republicans believe that this is our moment to actually address.
Some of the pressing problems that face America and part of it is.
In the entitlement programs making sure that we're saving them part of it is spending reform part of it is getting our economy growing.
Play in order to avoid having this debate again and just another few months like we had this a year ago in the one we're having over the fiscal -- Is it that we have to be willing right now to come to the table have these negotiations.
And speaker Boehner the day after the election signal to the White House he went to the podium and he said were willing to put.
Tax revenue on the table but we must have the spending.
Spending reductions and also the entitlement reforms.
So the White House says they will not compromise unless we do you see tax rates going up at least for the wealthiest.
What what do you see the end result being if that's some of the Red Line that they are drying.
What do you see as part of the compromise there they say they -- -- those rates go.
Well it's it's a question as to whether.
Whether or not they're going to insist on those that that those top 2% rates going up it's really a strong man in this whole debate.
Because even if we raise.
The top 2%.
-- we have to not a 100%.
It would only fund the federal government for 981 days.
This does not solve the problem and we need we need a real fix.
Not just the quick fix and it comes through tax reform it comes through also addressing the structural spending problems the out of control spending the president.
Put on the table he put on.
More taxes he doubled the tax new tax isn't any tax increases and many put more spending on the table in new stimulus that is heading us in the -- -- So I'm just getting lightning bolt wire that comes into our newsroom and -- crosses and apparently the president speaking to Bloomberg television just moments ago at least getting parts in this interview now.
I says it's bigger gators proposal on the fiscal cliff is still.
Out of balance and that that is -- -- the president has given about the letter -- the proposal that you sent to Capitol Hill realistically.
When you need to get ahead.
A deal done to avoid the country from going off the fiscal cliff I know there's limited days.
But -- Wednesday as an actual deal have to be done so many gets through those logistical process is that we no need to be done in both the house and the senate.
That the sooner we can get a deal the better speaker Boehner.
As I said he would heat and the day after the election said okay where -- will put tax revenue on the table let's start the negotiations.
You know this can be done President Reagan and Tip O'Neill back in the early eighties they negotiated a deal to save social security and address tax reform.
And that the other entitlement programs the spending that was.
And I think you know at Reagan famously said trust but verify.
Why she -- stress to you why -- just plug on acres an office right now that they can do this.
Well and and because I would say we're either going to succeed together we're going to fail together but it is so important because congress has a history.
Where we've seen taxes go up.
But the spending side not addressed in a balanced approach means that we're going to get the structural spending reforms in place that we need to address the dead.
-- The debt is almost doubled under this administration under President Obama.
And that have to be a part of this and that's where the Republicans are insisting.
That we have the spending cuts.
And the entitlement reforms that are gonna get America on the right track moving forward -- is such a big topics and we only breast that this surface haven't we look forward to having you back so we can talk more about it thank you so much.
Filter by section