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House unable to act until Senate works out fiscal cliff deal

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    Lawmakers play hurry up and wait

  • Duration 5:06
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Yeah new videotape showing house majority leader Eric can't her arriving at Capitol Hill on he didn't really say much of any thing.

And he was asked what's going on is there -- deal and he basically said.

Happy new year.

Happy new year happy news -- -- and the senate is not convenient until about 11 AM and it may not be officially -- -- just meeting.

But that was the time that Harry Reid said it would happen Tony Sega is a former press case GOP vice presidential nominee Jack -- and national political correspondent for talk radio news service.

Kirsten Powers is a columnist for the Daily Beast and a Fox News contributor -- -- I think you said that -- the president's really gonna come out getting most of what he wants Heidi of how do you figure that.

Well the president -- even the president wanted and what he really ran on during that entire campaign was.

Raising taxes on people who make over 250000.

Dollars it's possible that threshold could move a little bit -- -- in the president -- about a week or two ago 400000 dollars.

-- threshold on the table so we could see -- -- -- goes up to 400 or 500000 but ultimately he's gonna end up getting.

That the tax increases that he wants some people.

Upper income people and and really have happened.

-- they're given very little up I mean I don't I don't think that there is you know that the -- that around cuts and spending.

He's really where he wanted to be.

There's nothing mean down on sequestration at least the way it's been reported so far which means the defense cuts will go into a fact though they'll probably.

Do something retroactive to trying to -- at some of the -- that's about but.

Overall it's hard to see where the president really didn't come out on top on.

And Tony does that mean Republicans -- to come out on the losing end.

Certainly with the politics on this one Greg without a doubt look the president came into this whole fight -- maximum leverage -- just won the election.

And and frankly.

I don't think he wanted to go over the fiscal cliff but it didn't seem that he was so afraid of going over the cliff if that was the ultimate conclusion if -- were not to get.

The rate.

Increases that he was looking for and of course you negotiated -- -- on the threshold but remember something about the actual rational Chuck Schumer.

And Nancy Pelosi this summer suggested a million dollars be the mark.

For which people begin to pay higher tax rates not 250000.

So I think the president definitely.

-- stretched his definition of millionaires and billionaires by.

Putting the 250 rate -- -- level as that rate but he's also the at the extension of unemployment benefits that he wants as well so.

He certainly outmaneuvered us on this one but -- -- real irony here is that this whole process was worn -- -- deficit reduction -- another reports are it might actually -- the deficit so.

That's kind of pattern war or.

Or at least the 800 plus billion in new revenue would be wiped out.

By 800 billion yen in new spending and so it sort of dead even and not a nickel actually goes to.

Deficit reduction -- -- -- if that happens.

Both the American people say -- -- a minute wasn't this holds -- supposed to be about reducing the deficit.

Now they won't -- the fundamental political point the Republicans just seem incapable of understanding.

And father claims that this is what that country is obsessed with it's not what the countries of SaaS -- -- -- just care.

Obsessed -- the dad if you ask people what are you what are your major concerns in this last election -- They would be -- economy would be unemployment if you ask somebody just a question.

Do you think we have a problem with with the deficit and debt yes they say that but it is not the thing that animates them more than -- -- -- enemy experiments.

They don't want their benefits cuts so you know that -- I'm not saying that's right on -- -- -- easily -- interesting it's good for the country amnesty as a political issue.

That there's a reason that the Republicans had not been very specific -- -- -- concussion they would.

She makes pretty good point that you had it's a huge political win it for the Democrats and the president and may -- -- fiscal failure and but Americans -- obsessed with that as many Republicans all.

Well that that's actually very true with the bears on -- unfortunately but it's also because -- will say Republicans have failed to make this fiscal cliff conversation.

Enough about spending by addressing the revenue issue earlier and getting it off the table so they could focus on making the same point.

That the bipartisan debt commission made itself which is the majority of the problem.

With our debt and deficit is driven highly by entitlements that are out of control that need to be struck program.

And out of control spending in Washington -- actually put it.

For four dollars in spending cuts to one dollar -- well you could actually balance this budget and I certainly hope.

That's the conversation we begin to have I -- ready debt debt debt crisis negotiations how excited am I re read especially the risk of bulls portion of -- and it's 321.

But I'm it's slightly more than three hi I'm averaging up you average -- I'll quote him if you want.

Be my -- thanks guys well and we.

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