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'Fiscal cliff' deal reached between Senate and White House

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    Ed Henry reports

  • Duration 5:02
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-- more reporting turning now to the White House chief White House correspondent.

Ed Henry live in the north lawn Mike.

I've mentioned to add that the house.

-- listen a lot of them got -- of reelected a lot of them got elected to cut spending.

Not to raise taxes they feel emboldened by what date I felt was their mandate in their individual races whatever they were across the country.

And the house is still controlled by Republicans.

So when President Obama has.

His talk about to campaigning and running and getting a mandate on raising taxes on the upper tier.

These Republicans fight back with their own individual races.

No doubt about it and that's why we had this class you'll remember.

-- right after the election I remember full well that these negotiations which started.

With the president and speaker Boehner they're ending now with senator McConnell and Vice President Biden but within days of the election.

A speaker Boehner sent a letter to the president United States saying we just had a status quo election that was from the speaker.

Inside the White House they didn't believe as the status quo election.

They believe the president won decisively and did get that mandate and so that's what we had this class because house Republicans believed.

They had a mandate to cut spending.

President believed he had a mandate.

To raise taxes they will have that same -- two months from now she just laid out not just over the sequester or to -- back in two months -- just kicking the can down the road on that.

But in two months we'll have another clash over the debt ceiling so I'm not sure anybody wins tonight when they're kicking the can down the road again the nation will still be watching this closely the markets will be watching it closely.

But the White House will believe the days ahead -- -- one.

Because in this fight the president in the end is getting the tax cuts for the middle class he wanted he's getting the tax increases on the rich that he wanted.

And there are no major spending cuts no major entitlement reform.

That the Republicans the house Republicans wanted as Mike suggested they believe the Republicans do that they'll get those in the debt ceiling fight.

Will see but the bottom line is that a top official here told me a short time ago.

They're not spiking the ball tonight because they know full well house Republicans thought the sign off on this.

Quote unquote deal senate Democrats still that -- -- sign off on this quote unquote deal that's why Vice President Biden is up there lobbying them to support it will see they say they're not spiking the ball but earlier today when the president had -- campaign style rally.

Here at the White House Republicans certainly thought he was spiking the ball.

But the president and his aides say all he was doing was laying out once again his principles in this fight which he says is all about protecting middle class tax tax -- Take -- listen.

Preventing that tech -- has been my top priority.

Because the last thing.

Folks like the folks up here on this stage can afford right now is to pay an extra 2000 dollars in taxes next year.

Middle class families can't afford it.

Businesses can't afford it if.

But the president went on to say.

That he will have what he has called again and again a balanced approach that it's not just going to be spending cuts in the days ahead of -- have broader fights about deficit reduction.

In two months and beyond but it's also going to be about more tax increases in the days ahead and he said that will be the approach as long as some president and I'm going to be president for another four years and there -- -- a loud applause from.

The audience there which is why Republicans said it was essentially -- campaign rally.

They teed off on the president and said that basically he was rubbing their nose in their defeat take -- -- It's time to stop the campaign for president while we all know that.

He won fair and square.

But isn't it now time to govern the president was absolutely -- -- this comment 2130 this afternoon this is a very delicate time in the negotiations.

So Republicans suggesting there.

That in this delicate time the negotiations the president may have turned off some Republicans will see again.

Whether or not senate Republicans rank and file go along with their leader it's a big deal that Mitch McConnell is expected to be.

On you -- voting for this because he was involved in cutting the deal with the vice president will his rank and -- go along but -- more poorly in the days ahead -- the rank and file -- it on the House Republican Caucus go along finally tonight will we see the president we're not expecting to see him tonight since this is not done done yet it's more like -- will see him.

Tomorrow -- Get twice second here -- before take another break but it is it a loss for this White House.

That the debt ceiling part of this is not include.

There's no doubt they wanted it included here they were fighting for it so it's a loss in that sense but they will argue they won most of the other battles and they're willing to have to fight that went out in the days ahead although they believe that the Republicans will pay a price if they -- it once again into a political football for a -- looks like it may just be heading right down that Alley Ed Henry but the White House will be checking in again.

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