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Signs of progress in 'fiscal cliff' talks?

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    Sen. Lindsey Graham sounds off

  • Duration 6:32
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Well right now on Capitol Hill we're hearing there's progress -- in the pot talks avoided fiscal -- but we've heard this before and we're just hours away from massive tax hikes and spending cuts.

Set to -- -- at midnight.

Republican senator Lindsey Graham is joining us now with all his thoughts on the matter and welcome senator great to -- today.

Glad to do it because.

Let's talk for my bet that fact that you know the beauty and a deal yet and yet.

You're already conceding that this is a victory for the president why.

Well it will be handing -- no Republican wants to raise tax rates.

In 2010 the president -- we needed to extend all the bush tax cuts cost the economy was weak well in 2012.

The last day.

He's pushing the -- tax rates the economy is still weak.

But it's all politics who won the election he says.

-- -- campaign I was raising tax rates on upper income Americans about 250000.

And at the end of the day he's probably gonna get that victory and there will be a hollow victory because raising tax rates is not gonna have job creation.

You certainly not going to get decided -- so but here's the question asked on FOX News Sunday.

What are you gonna do with the money Mr.

President that comes in from raising tax rates I found out yesterday asked afternoon.

Much tonight disappointment that they had intended to spend 600 billion dollars.

And new spending takes 600 billion dollars.

From the rate increases and spend it on the government not put any money on the deficit -- while we're still talking.

Among ourselves because that's unacceptable so you have no hope that this money's going to be used to bring down the debt.

The last -- -- every dime you give these people they're gonna stand if we don't make them do otherwise that's why ask this simple question.

You've got to get a rate increase.

Hope this -- up -- fifty I think it will be.

And if we had the house bill on the floor weeks ago.

We have -- mended it would have passed it this thing would have been done a long time ago.

Behind the -- negotiations.

-- a lot of intrigue of this function this place is so dysfunctional.

You should bring the house -- -- the floor and -- every senator had their say.

About what they would like to see happen there eighty votes to avoid the fiscal cliff but here's the number one issue for me.

Whatever money is raised between now and tomorrow.

I hope all of it goes on the deficit and none of it goes -- the government if any of it goes to grow the government count me out.

Let me ask you this -- you in good conscience raise the debt ceiling without addressing.

The tax debt problems.

The long term that -- get credit.

Two different issues tax rates -- phone everybody on January the second.

Everybody in the country's gonna get a tax increase we're going over the fiscal cliff.

It will destroy our military so first things first let's avoid going over the cliff.

There's a deal to be had somewhere between 40500000.

-- rates.

Let's make sure that we don't spend that money own -- the government put it on the deficit and when that debt ceiling debate comes up in a couple of months.

You better believe that ever Republican hopefully some Democrats will say.

We're not don't borrow any more money until we address while we're in debt.

That means -- top -- form adjusting the age of retirement for Medicare.

Means testing Medicare and Social Security.

And CPI adjustments.

For the rate of inflation that's what I want to raise the debt ceiling in August 2 -- that this past year 2011.

-- -- two point one trillion dollars in the last time we raise the debt ceiling.

And we don't think two point one trillion dollars and seventeen months we're burning money out here and it has to stop.

You know some folks are saying why I just go over that cliff and never -- the country -- deal with that as the chips fall on that one because.

Some believe is the only way to force President Obama and the senate Democrats to agree on fundamental tax reform what do you think about that.

We will get fundamental tax reform I believe as a part of the debt ceiling debate going over the cliff means that our economy goes in the tank.

We've got it -- very small recovery going on here it would destroy data recovery and John's sons a first lieutenant.

Going over the cliff means that we start to dismantle.

The best and finest military in the history of the world at the time we needed the most so that's unacceptable that means I've got -- vote for something I don't -- Raising race is something I don't like I think it's a bad idea but it's going to happen because Barack Obama insists that it happens.

That let me tell you this he had the courage of his convictions to raise tax rates I have the courage of my convictions not to raise the debt ceiling.

Until we reform our nation and stop attending grace and finally start getting out of debt.

I hope Republicans will fight as hard on the debt ceiling as Barack Obama did on tax -- It's what you call everything is going on Washington right now I've dysfunctional the American people are waiting to see what's gonna happen here and you gotta know that many people are very upset and frustrated that once again we're here at the eleventh hour.

Try to get a deal done at a time when there was a lot of time.

Before this to work something out.

Because the senate doesn't.

Function anymore.

The house this past three -- four bills.

To avoid sequestration to save the military -- days that's the deal with the fiscal cliff if you don't like the house is product break it on the floor of the senate.

And let's change it let's start being legislate towards instead of just.

A place where ideas going -- the United States -- It's embarrassing to me to -- and most deliberative body in the world and not being able have a debate about how the fiscal cliff.

I promised it and wish -- -- the house bill on the four months ago.

Harry Reid blocks everything coming from the house this place is completely dysfunctional.

And this is why you lay -- New Year's need to find out what's happening because we don't vote in vicinity more.

Well it's a very troubling and disturbing situation indeed senator Graham thank you so much for joining us of course.

Were all watching and waiting to see what happens over the next few hours.

There are a lot of votes in this body to avoid the fiscal cliff if we could just get the body working we would.

-- in with this note.

If there's going to be -- revenue increases.

Not one penny should go to growing the government all the money should go -- reducing the deficit.

Because we're gonna lose the American dream about being in debt to the point our children cannot have what we -- Senator Graham thank you very much for joining us today appreciate it he's.

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