Fiscal cliff or financial crisis?

This transcript is automatically generated

As President Obama and house speaker John Boehner -- the White House today to discuss the looming fiscal cliff.

There's new inside about who Americans think should receive the most blame if lawmakers fail to reach a deal according to the new post poll.

And this is a -- -- post pew poll a majority of Americans say.

They would hold congressional Republicans responsible.

While just 27%.

Think the blame should fall squarely on president Obama's shoulders.

Let's bring in our political insiders -- absolutely former Republican congressman for New York packet dale Fox News contributor and former pollster for president Jimmy Carter -- shot.

He too -- Fox News -- -- -- -- former pollster for Bill Clinton.

Well here is Boehner or the White House talking to the president today just two days after he said had been a whole wasted week.

Right and it has been a wasted week.

The Republicans are divided and as a -- numbers suggest a very clearly the Republican brand is weakening they're getting the blame.

I believe they are trying to.

Cobble together something to avoid going over the cliff Boehner has asserted his control of -- over a fractured.

Caucus Greg and bottom line it remains to be seen whether they can get a deal but I read into this statement.

Which was identical from the White House and for -- right that they are looking for something big not small.

Our big would be -- on that grand bargain at sixteen months ago.

They were on the precipice -- the president Boehner and suddenly didn't happen sold more.

Part of the reason it didn't happen in August -- -- eleven was Boehner was told by Air Canada the majority leader.

Who was allied with the Tea Party faction in the house.

If you do this deal with Obama you're -- -- speaker throughout our area so this time we've had the election Republicans are in total disarray.

Boehner has stepped -- and he's fired four members of the house all their committees conservatives.

Conservatives he he he yep Tea Party people -- the Tea Party is in.

NC in the house since the election.

Cantor is not in the room Boehner I believe is trying to do the grand bargain because he thinks it will be the best thing.

-- -- for the country but for the republic may be the only thing John yeah pat and I mean Weir's.

Mitch McConnell handled it well first what Republicans -- had been talking to each other candidates and talk -- Boehner.

And nobody talks McCall -- he -- -- indeed wolf what we had you know starts.

Pursuing its debts sealed warrant which I believe busy -- a -- can we -- for the president.

Could have been something could be something for the Republicans to challenge.

The president -- for overreaching.

We -- -- Harry Reid's right there is no quarterback here for the republic exactly so Harry Reid gives we will both wait hold back -- -- we just can't happen you would think they'll have a center Greg of course a lot of if this was put the Democrats on record.

-- -- -- -- -- ball just as we've said last week just prior merry way and group.

-- maintenance and these people want to vote for the these people are out of control you know what I don't think I watched the president's inner view this week I believe it was on Tuesday and he said he is happy to look at ways.

To strengthen Social Security.

He -- be open to the idea of doing something about Medicaid and Medicare so this is the biggest driver right right yeah.

The president.

Is indicating.

Trial balloon.

That he's willing to take on entitlements in some way.

The real question for the Republicans.

And I think it may be signaled by Boehner going to the White House will they cave and rates.

For the wealthy people they go up to 3738.

Percent and allow the president -- had put -- -- to get anything less than 39 available -- a victory they're gonna give the president the right.

The problem for the Republicans is they have to -- been -- taxes they lost the election.

And that's ultimately another -- but I'm certain that went out.

-- dollars is not rich want to wanna cue -- one -- you don't have an election once you get that off the table.

You get spending remember we still have coming in February -- -- and let's -- this big deal we still have.

-- new debt ceiling -- right right in the middle of what that was just described in this Republican disarray where they don't talk to each other than rabid conservative strategy.

The biggest Saturday in the Republican Party is the Tea Party.

Sure the leader of the team and -- in the in the US senator.

And generate -- man in the middle of this thing -- and automatically immediately -- -- an -- foundation run.

Yeah and make one and a half you know here -- -- four years he's solace for years on his term.

Every what are Washington in the senate let's understand this is in the business of -- it whether it was Trent Lott.

Have been -- the lord Jim agreement now everybody in that town is just not I think his principles for -- -- -- in Washington does and that's the dirty secret that no one will talk about this is -- -- and it also said that his principles were Paramount.

More important than Republican orthodoxy.

And -- -- Ron we have him on the air and he said -- I think I can pursue my principles that starter in this.

It by advocating on behalf they -- its foundation and giving money to org is a.

Is to -- -- -- just another sign of the disarray on the right since the election this thing is totally still gonna go over to be watching you're you're the outsider railing at the gates and go to the insider.

Heritage Foundation NY and a half a million and a half to lead the fight the revolution got what I want to come back to John's argument about the grand bargain sixteen months ago as I understand it he would have been three things to.

Reform entitlements -- reduce the cost of living -- -- never to raise the eligibility age for example for for Medicare and of the three.

Increase Medicare premiums for the for the -- the high income earners now is that workable as -- that I.

Yeah it is more alcohol I think the means testing easy.

CPI is something that gets.

Lost in the equation and raising the age is probably in the president's gonna do is no he's not regret I I don't you know I don't know but if he gets a big deal that stabilizes the economy would do -- -- right now I don't I don't think the Democrats will go with raising the -- I think -- part of a barrel and an 112000.

What you could have gotten a deal I think you're talking to her breezy.

Age it's mr.

knell for the question is what do you do about the road that all about abreast in the spending.

And the question is in what will come out of this deal opens a grand bargain about the debt limit -- -- Republicans cannot give the president what a lot of what we if Republicans got the three things you list of that means testing the change in inflation.

And the retirement age over time.

And they did raise tax rates that we talked about that's the grand bargain could be worth four trillion over ten years that is a huge victory.

For the president and for -- if they don't let me.

Watch Live

Fiscal cliff or financial crisis?

Details

Clips

Powerful Politics

Is Obama a bystander or observer?

Rep. Trey Gowdy: 'I want to know everything that happened'

Scandals impact Obama's second term agenda

Rep. Issa pushing for more answers on Benghazi

Is the Republican Party 'leaderless'?

DC adrift in a sea of corruption?

States fight back against EPA regulations

Lawmakers offer alternatives to 'Gang of 8' immigration plan

Questions over possible use of chemical weapons in Syria

Prosecuting the Boston bombing suspect

Worlds collide at White House Correspondents Dinner

Could the Boston bombing have been prevented?

Transcript

Recommended