Last ditch effort to avoid fiscal cliff

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I'm Greg Gutfeld in for Bill O'Reilly thanks for watching us.

Our top story tonight the last ditch effort to avert the fiscal -- President Obama met with congressional leaders for several hours at the White House today to try to hammer out a deal before taxes go up on more than a 160 million Americans.

After the meeting the president presented a new plan to avoid the cliff.

And said he was modestly optimistic.

We had a constructive meeting today.

Senators Reid and McConnell are discussing a potential agreement.

Where we get a bipartisan.

Bill out of the senate over the house and -- in -- timely fashion so that we met.

The December 31 deadline.

But given -- -- have been working in this town.

We always have to wait and see until it actually happens.

The one thing the American people should not have to wait and see is some sort of action so if we don't see an agreement.

Between the two leaders in the senate.

I expect.

A bill to go on the floor and I asked senator -- to do this put -- bill on the floor.

That make sure that taxes on middle class families don't go up.

That unemployment insurance is still available for two million people.

And that lays the ground work been for additional.

Deficit reduction and economic growth steps that we can take in the new year.

Joining us now from Capitol Hill South Dakota Republican senator John -- a member of the budget committee to senator what do you make of that president's plan.

Well I'm just glad the president's finally engaged -- we've been waiting for this for a long time you can't do big things here in Washington DC without presidential leadership and that's what we haven't had.

And -- the fact that he's now at the table better late than never I would argue but.

He -- she's at the table presenting something that will give us a chance hopefully get some some bipartisan support.

In the senate and perhaps get something eventually through the house that -- avert what everybody agrees is a major economic disaster.

But we're still waiting for the details and obviously there is there's a long ways to go and this is a very that this could be a tough.

A needle to thread -- to get this done.

-- I don't understand why the Democrats think that this is an economic disaster going off the -- it's really it's just.

A democratic agenda I mean cuts defense in higher taxes.

What's not to love if you're Democrat.

Well and that's why I think they've been so slow to move now I do think that the president is concerned beginning to become concerned about the impact on the economy and also about his.

His legacy -- mean ultimately at some point even though he can blame Republicans in the near term in the long term when people look back on this period.

They're gonna this is -- this is gonna attach to the president.

And so I think he's feeling now an obligation to finally lead on this issue and hopefully he'll bring some Democrats in the house and senate along.

But it's gonna have to be something that Republicans could support Republicans are not -- -- for a bad deal.

And and obviously so we're gonna be very interested in the particulars.

This is they.

Begin to emerge but I'm I'm just -- filing that the president is here but your point.

It is true a lot of Democrats get what they want to get higher taxes automatically on on January 1 and they get steep cuts in the defense budget.

But I'll say what -- an awful lot of people who would be hurt by that particular small businesses -- in job creators and that's why.

It is so important that we do everything we -- to get an outcome here that doesn't hurt jobs in the economy.

Well this is.

-- again I don't get this the president says he's worried about this having an impact on the economy and that raising taxes at this point on a growing a growing economy which he believes it's growing.

Would be a bad thing however he still fighting tooth and nail to raise taxes.

On the successful.

Is -- a contradiction there I mean if raising taxes on the middle class is bad should it be really bad for the people that actually -- the middle class.

Absolutely and is a fragile economy -- you are right and you know two years ago the president when we had economic growth it was actually higher than it is today said.

We should be raising taxes in the middle -- -- weak economy.

Well today here we are we still got a fragile and weak economy we -- -- raising taxes at the 250000.

Dollar threshold.

Would hit a million small businesses who -- point 5% of the workforce in this country.

It would be all the handles all the economists say that this would be really bad for our economy.

And if you look at the impact of the revenue increases -- the president gets everything he wants in other words all the tax increases he wants.

It funds the government next year for less than a week right is not a revenue problem this is a spending problem which is what.

Republicans have maintained all along right exactly.

Not to Psycho analyze the president but he seems so obsessed.

With the 2% that he's disengaged himself from the bigger problem.

Which is that we're heading towards Greece were not thinking about spending he's almost on class warfare disability.

-- it's taken kind of out of the argument and now he's coming back.

Don't you think that's the problem that -- -- almost like Ahab in the -- on the whale was the wealthy.

Hit her feet.

Well if they do have it seems at least this obsession with raising taxes and particularly in a punitive way.

On on.

A -- people now.

Having said that again the people who are that you would would be hit with these tax increases are the people who create the jobs and that impacts a lot of middle class.

American -- a lot of middle class Americans who -- employed by small businesses it was either tax bills go up.

And that's gonna be bad for the economy -- bad for jobs.

But but again I mean I think that that philosophically the president a lot of his allies appear in the congress have a very different view the world and one.

Which believes that the way that you improve our country improve our society is to re distribute wealth.

But the way the -- with the way the -- improve this country and raise a standard of living.

Is to -- the economy that that makes it better for everybody and that also solves a lot of these fiscal problems of the country faces right.

Now -- we saw a lot of name calling Harry Reid called.

Boehner a dictator I find it strange because they don't call actual dictators.

Dictators like -- a -- Chavez or Castro a dictator but they'll call they'll call Boehner dictator.

I think to start acting like adults against him.

I hope so and this really is senate play in the in the house is down there their job and it's it's ironic to me that Harry Reid goes after John Boehner the House of Representatives.

Did this months ago when right when it should have been done extended the rates replace the across the board cuts was from responsible reductions -- In spending.

And yet here the senate is pointing the finger at the House of Representatives so.

The speaker is right to say it's up to the senate and and this is that this is where it's gonna have to happen all right senator thanks a lot.

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