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Will Republicans bend in 'fiscal cliff' negotiations?

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    All-Star panel weighs in

  • Duration 5:25
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-- the president doesn't agree with our approach.

Why he's got an obligation to pull forward a plan that can pass both chambers of the congress.

Because right now the American people have to be scratching their heads and wondering when is the president gonna get serious.

He has said that he's not wedded to every detail in this plan and and did he understands that -- compromise requires all sides to.

They accept something short of the ideal.

And he's committed to doing that what we haven't seen for Republicans to this day is a single -- specific proposal.

On revenue we can get things done.

Quickly.

-- I think it's going to be extremely difficult to get it done before Christmas but it could be done.

Sights and sounds of the cliff that's we'll call it.

Today and just moments ago President Obama told ABC quote I'm pretty confident.

That Republicans would not hold middle class taxes hostage to trying to -- Protected tax cuts for high income individuals he says I don't think they'll do that.

He's is -- I remain optimistic I'd like to see a big package but the most important thing we can do is make sure.

The middle class taxes do not go up January 1.

He says I think the tone was good.

And he thinks a deal still can't get done.

We're back with the panel.

Optimism abounds and maybe.

Well.

You know -- just from the White House because they hold the cards in this tax rate -- -- On the Republican side although the house speaker always comes off I think is infinitely reasonable in his presentations is getting pretty frustrating.

The feeling in the background and in these discussions between the speaker and the president is.

As the president indicated about as optimism yes the Republicans are gonna -- on revenue -- rates probably rates.

But they're not -- -- and on December 11 because to admit now they'd have to have something in exchange.

So when the president says show us -- entitlement reform show us -- spending cuts.

The Republicans are in a corner where they can't say well for this we would.

Ask this because they don't want to say we raise taxes.

But if I gonna do it on December 30 so the president knows that it's up to him really if he wants to lead on this and not jump over the -- Which Republicans suspect he does.

She would have to really come over with that -- with a real.

Middle of the road offer that would allow the Republicans a win win -- take.

They hit for the tax increases he's not doing -- the -- today went from one point six -- one point four.

It was a meaningless difference.

People I spoke today and Republicans are very frustrated tonight.

By what they see as a big talk on Sunday that was going well but when it got down of the paperwork and everything -- Still the -- -- -- -- one point six trillion to one point forward target revenues that's tax increases that they're looking for.

The White House is looking for -- on the spending cuts side.

Democrats keep talking Tucker about one trillion dollars that's already been cut we explain this about baseline budgeting and just really quickly.

Friend from heritage explained it pretty well -- we thought we played this quickly.

Baseline budgeting just to kind of define it first before we get into falsehoods that are based in there.

Is Dave is the building of a projection of spending based on what you're currently doing.

So.

I'm currently building a house.

I -- under baseline budgeting I could.

Budget the same amount for building that house for each year of the next ten years have be based on budging what people say why that's crazy you go to her house one year.

That's it.

Not every year there after what this does is it permanently builds -- higher spending.

And then you can't and you call the cup.

-- -- what -- you never spent -- look I think it's pretty hard for Democrats to credibly argue that they are planning.

Big cuts on the other hand is very difficult for Republicans to win a debate they've allowed their opponents to define.

It's not all clear why the speaker and the leadership of the house and sentencing.

Here's the three things we would like through the cuts we would like and it's also clear why they weren't -- this predicate for six months ago we've taken the case to the public for why.

We actually have to curtail the growth specifically of of Medicare or go bankrupt.

But it's not too late.

And I think they could actually win this argument the president doesn't -- -- give on this he doesn't want to cut a single public sector employees there his base in exchange collect unemployment they get.

Staple for him and he doesn't want to cut entitlements they are they're taking a strict no entitlement cut position I think Republicans -- highlight their intransigence.

By stating their position I washed away.

It's late in the game to win the argument I think what you have to do.

He's emerged with your trousers still on.

The Boehner handed over his sword it is clear that the Republicans were another dissension among them are ready.

But to raise rates that's probably gonna happen and that's really -- rubicon but they have to do it.

Only in return for something really important and real.

On entitlements raising real stability.

Age for Medicare change -- cost of living adjustment means testing.

If they get nothing they cannot accept a higher -- if they get something from the president which he's withholding now.

I think that will give them a way to at least honorably handover -- who -- good walk out still dressed.

With contrasts.

That is it for a close at all.

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