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Impact of 'fiscal cliff' standoff on economy

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    How is crisis shaping consumer confidence?

  • Duration 3:09
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Good evening I'm John Roberts in for Brett bear this Friday evening deadlock gridlock stalemate whatever you wanna -- -- most people here in Washington seem to think that we are there.

We have just four more weekends ago before America goes over the most talked about piece of real estate in the world right now the fiscal cliff.

The chief White House correspondent Ed Henry tells us not everyone is pessimistic.

They literally snapping his fingers that vice president Joseph Biden today suggested it would be so easy to finish a deal with congress to avoid the fiscal cliff he would take fifteen minutes from.

From the time the decision.

By the speaker of the house.

Compacts and make permanent middle class tax.

The president would probably have me -- up to the -- to bring to build down that side.

He can be done life.

Complicated speaker John later.

Not so optimistic -- does that sort of progress report because there are additional progress that to report Boehner blasted President Obama for not offering a counterproposal.

-- his debt plan.

And the Republican seemed more determined than ever race.

To stop tax increases after today's new jobs numbers.

While the economy mostly shrugged off hurricane sandy to create 146000.

New jobs nearly double what forecasters had said.

Job creation for September and October was revised downward by a total of 49000.

And another 350000.

People.

Were so discouraged in November they simply stopped looking for work and left the labor force which is why the unemployment rate dipped to seven point 7%.

Raising taxes on small businesses there's not gonna help our economy and it's not gonna help those seeking work.

There -- -- came out the day after reelection -- but revenues on the table.

To take a step toward the president to try to resolve this -- -- what is it gonna take a step towards us.

Analysts say anxiety over higher taxes from the fiscal crisis is a major reason why consumer confidence plunged in early December.

The Thomson Reuters university of Michigan's preliminary reading on consumer sentiment dropped to 74 point five -- its lowest level since August.

The vice president countered that business leaders are telling him the economy will take off -- if there's a fiscal cliff deal -- -- over a trillion dollars out there to invest.

If they think that the car.

And what -- he suggested some wiggle room to get that done -- top brackets have to go up.

This is not a negotiable issue where we're.

-- -- Theoretically could negotiate how far.

And Democrats noted today despite the gators tough talk when he was pressed on whether the tax rates on the rich could be negotiated he initially ignored it.

And then suggested some flexibility.

There are a lot of things are possible but to put the revenue of the president -- on the table.

Now White House officials are clear in saying they still want the tap tax rate to look at 39 point 6% like in the Clinton days.

But it's also clear tonight bill give on that a little.

To get a deal John.

We'll see how far they'll go Ed Henry forced them out of the White House said thanks.

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