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The fiscal cliff showdown

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    Will lawmakers come to a compromise before the deadline?

  • Duration 5:19
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I think.

We all know that every income tax -- America.

Is gonna pay higher rates -- Jennifer the first unless congress acts.

So I believe it's important.

-- we protect as many American taxpayers as we can't.

-- -- our plan B would protect American taxpayers who make a million dollars or less and have all of their current rates extended.

Let's take a Boehner talking about protecting the taxpayers for this plan B -- -- -- a modified plan B but.

Is that what the plan really does here to debate that Fox News political analyst Juan Williams author of the great destroyer New York Times best seller David Limbaugh is -- us.

David Limbaugh if you go back.

It is this is how far we have come -- a year that go back to when.

The Republicans were debating trying to get the nomination ten dollars and in spending cuts for -- one dollars in tax increases.

Member they -- -- now.

Now that went three -- 11 those four to 13 -- one now we literally at the point two trillion dollars in cuts but they want more than a trillion in revenue.

So it's actually flipped and still Obama won't support.

You know he doesn't have any interest in supporting this the the Democrats promised.

Ray add bush senior three to one in spending cuts and then reneged.

And we weren't in nearly to travel we are now now we're in serious.

Existential problem -- -- international financial situation.

And Obama will not.

Come to the table even on a one to one ratio as you mentioned it's one point three trillion in tax increases.

It's 850 billion in spending and by the way.

We don't even know that those 850 billion are even real spending Tom Carney the -- examiner.

-- a little -- analysis and talked about it possibly being even double counting.

-- a little concerned with what I'm -- speaker Boehner is doing.

I'm -- I'm very concerned I'm very concerned about what -- reading because it doesn't sound like.

I like I like a party with bold differences and if they're just gonna be a carbon copy the Democrats that's problematic to -- Want here's why I think it may actually be noble.

To go off the fiscal cliff in January if the republic the president's not serious about cutting spending.

We're borrowing 46 cents of every dollar that we now spent a Washington Obama gave a six trillion in new debt.

And it is estimated.

New debt in the next four years may be as high as eight point five trillion dollars.

We I cannot in good conscience.

Allow generational theft like this.

And robbing from our kids and grandkids so what may be noble for the Republicans to hold the line demand the spending cuts.

Or go over the fiscal cliff I think it would be the responsible thing to do.

But as it's irresponsible was going on now.

You're talking about Republican suicide I wanna protect you may -- up and I also want to protect.

The American people from all those tax hikes that you would impose on them.

And secondly it's -- about carbon copy when -- the American people Republicans or Democrats and leaders to Washington.

Who are who think that compromise and reason are out of fashion and that you must be hard edged ideologues -- in order to job that I want to stop borrowing where that yeah those are present hard edge because I don't wanna borrow or steal all -- the word steal because I think it's accurate reporting six cents of every dollar we spend from our children that's hard edged up.

I tell you what you're -- first of all there's not that big difference right now between the the proposal from speaker better than -- -- -- Obama.

It's not a carbon copy but what you see is they're trying to protect the economy a lot of these things take place over a ten year period shot.

They're trying to protect the very fragile economic recovery doesn't make sure that people -- -- need right now.

Get the support they -- for -- -- a little -- -- -- they wanna protect the economy.

How about living within their means.

-- That you're doing the exact opposite formula the exact opposite prescription you need to be undertaking to protect the economy.

The economy's weak so you don't raise taxes on -- already struggling economy and you don't crowd out the private sector by spending more money.

And you don't could accumulate debt at a added to starving right.

Obama is expanding government I saw at Stanford economist is just -- -- written a book.

Who talked about.

The times that you really have -- retardation of economic growth.

Is when government spending the rate of government spending exceeds the rate of private spending and we saw that.

-- -- seeing that right now and Obama is proposing that we doubled down on that you prime you expand the big government spending you crowd out.

The private save -- that's not practice every day describe.

Oh David you're talking about it is it's -- more taxes sending -- over the fiscal clip.

And at the same time staring -- private employers by telling them that the government is cutting back on every kind of spending and contractor in the nation you're asking for catastrophe you got.

I didn't want you one attacks 70% -- my other businesses.

That provides 70% of the jobs want you noticed that about you want to do without it Democrats are trying to protect 98.

Comments -- -- tiger recently known attacks everybody we.

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