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'Fiscal cliff': deal or no deal?

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    Both sides trade new offers

  • Duration 4:01
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-- with less than three weeks until the US economy falls off the so called fiscal cliff house speaker John Boehner.

Says -- the president are still not close to reaching any kind of -- deal.

President's planned to avert the fiscal cliff.

Still does not meet the two standards that I laid out the day after the election.

His plan does not fulfill.

His promise to to bring a balanced approach to solving this problem.

It's mainly tax -- And this plan does not be in the -- our debt crisis and actually increases spending for the longer.

Well the White House slow walks this this discussion the closer our economy gets to the fiscal -- In the more American jobs are placed -- just.

So with both sides still hung up over tax hikes and spending cuts can they come to a consensus in time to avert gone off -- That's Texas congressman -- -- -- who joins me live from Washington this morning good morning Q congressman.

Good morning -- you.

I'm doing just fine thank you so much.

It's interesting because it appears from John Boehner.

That the president isn't budging on these spending cuts and yet I want to point you in the direction of a new Fox News poll that came out this morning.

It's said that if there are tax increases should the president also budge on spending -- anyone know how many people say yes.

89%.

Your thoughts.

Well I'm gratified by that.

Because the truth this American is America is facing a debt crisis and he's under President Obama we've.

Accumulated more debt in four years and in the previous 200.

We're born roughly forty cents on the dollar much of it from the Chinese sending the bill to our children and grandchildren.

The president out there saying -- follow we will do is tax quote unquote rich people a little more will solve the problem well.

Here the two problems with his logic.

Number one.

Half of this income that he wants to tax is small business income.

And then in the economic studies show that 700000.

Of our fellow citizens will go from haven't paychecks to unemployment checks under his plan.

And as the economy contracts every American left with a paycheck.

We'll see about 2% less and -- so that's my first point.

The second point -- you give the president every single job crushing increase that he -- -- it runs the government for eight.

Maybe nine day she can't solve it there.

He's had government -- 20% under his watch.

So our revenues have been about level for the last five or six years.

But -- has skyrocketed.

In -- on the verge of being the first generation in America's history.

To lead the next generation with fewer jobs.

Okay so -- -- opportunities in the lower standard of living so congressman if you had a crystal ball right now and he would would you expect.

To happen and should the Republicans hold the debt ceiling discussion.

As their bargaining chip.

Well and my crystal ball was a little Fuzzy but I fear I may be paying my stocking the chimney with care next to my colleagues.

And perhaps only be read in the new year with them I don't know that -- not come as a -- life.

But -- yeah exactly with respect to the debt ceiling you know the press that this come out I don't know whether to laugh or cry with this brazen.

Demand that we essentially give him carte Blanche on the debt ceiling you know what -- Greece has been very good.

And ignoring their -- seed in now they have 25%.

Unemployment 50%.

Youth unemployment you have young people having to leave the cities to go to the country to engage in subsistence agriculture.

So that's what happens when you ignoring your debt ceiling.

-- congressman I got to wrap it up there if you actually -- your stocking there might have to send some champagne to.

Sorry about police -- aren't congressman have a great rest of today and Merry Christmas to you thank you threw me.

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