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FBN’s Rich Edson on President Obama’s first press conference since his re-election, and his attitude toward compromise on the fiscal cliff.
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Rich -- at the White House right now.
-- you know one of the things he says is that -- clean up her super -- CNB was -- aggressive I guess he -- in two breezy point.
Or -- island recently because man it's still a mess there.
So -- -- its New York tomorrow to view storm damage but I think what we got here.
Was an opening for compromise President Obama saying look I'll take a look.
At tax reform and a serious look at entitlements we don't have many details on that and again we're at the stage of these negotiations where.
Neither side is providing too many details a system where you willingness to go on this.
One of the questions that a number folks have been asking is.
Are -- President Obama firm on your commitment that tax.
Rates must go up on those earning more than 250000.
Dollars a year that's the signal we had gone from the white house Press Secretary.
We had not gotten that from the president himself.
And he showed -- little wiggle room -- meticulous.
I am open to new ideas if there.
Republican counterparts -- some Democrats.
Have a great idea for us to raise revenue.
-- maintain progressivity make sure the middle class is getting hit.
Reduces our deficit.
Encourages growth.
I'm not gonna just slam the door of their face I want pure.
-- I wanna -- wanna hear ideas from everybody.
Tracy he was asked twice are rates going up on 215 above is at a red line for you.
He would not go there instead that was the answer that he provided though he did say the Republican position in of overhauling the tax code.
Just getting this revenue through cutting deductions and economic growth he says the math.
Doesn't seem to work there so it's not exactly that we have a total agreement between the two sides.
But at least some progress some indications perhaps that we get actually get a deal done -- we are very far from that point president's gonna walk across the White House complex -- here headed off to though.
East wing west wing coming from the the east side of the White House so we've gotten some arrivals.
From a number of the CEOs on their way here -- rometti of IBM Mike duke of -- Jeff Immelt came through Andrew Liveris handful of CEOs waiting for President Obama.
As he heads to the west wing.
We'll get him on the way out into this time will actually say something.
-- -- Yeah rich and that's -- an interesting afternoon because again the president says his -- -- to help the middle class.
What about you know Wall -- what the firms that helped him get re elected he's essentially kind of saying I'm done with you thanks for your money.
Well yeah that's actually been some of the questions here how can we not seeing.
Any Wall Street representation at this meeting the White House insists.
That president continues conversations we'll have conversations.
With representatives.
Of Wall Street and -- you know look the message of the president's campaign.
Was to help the middle class he mentioned it.
At least a dozen times today how can he help the middle class it's what helped him get elected and so that's why he's about protecting those from tax increases.
Driving that line home.
Wants tax increases on to fifty -- above but has little room exactly how that's going to be done and net -- to -- seems to move the ball forward here in Washington.
And -- before they go back to fifteen above is actually not instill in either right I don't think he mentioned that number at all during a press conference -- suppose.
Based on what you're saying that number could be different as well in the end.
-- the White House talk as the top 2% basically translates to 258 above but of course there's all speculation.
How -- -- get this deal done there are Democrats out there who say how about a million dollars and above especially Democrats from wealthier states.
It Stetson down in DC thank you very much and -- business and policy.
