Also in this playlist...
This transcript is automatically generated
House Minority Leader Nancy Pelosi are going along with Treasury Secretary Timothy Geithner.
And and say it's just simply a fact we're going over the fiscal clip from Republicans do not agree.
To meet the president's ultimatum and raise taxes on the top 2%.
The way I heard it and the way I.
Think it was not -- threat will go over if they don't it was a prediction.
If there is no agreement.
And then then the fiscal -- Has to be dealt with but I didn't see it as a if they don't do this we do that I saw it as a statement effect.
Not a threat its prediction.
If there's no agreement.
-- go over the cliff let's hope that we can have an agreement.
Parts of the presidential politics -- -- -- Similarly ask -- this it it looks like a condition preceding and it sounds like her condition received and it's found that looks like an ultimatum.
On the part of the president.
How could it be that the entire national media establishment seems to.
Be blaming the Republicans because the president is issued an ultimatum.
Yes rather -- the president has had a couple a couple different ultimatum -- a red lines or call what you want and he said.
He will not entertain the debt ceiling debate in the middle of this broader fiscal cliff discussion.
Made clear where he is on taxes on the wealthy this is a president who's come out and and from the beginning suggested that.
He's not moving off of his basic.
Requirements and you have Republicans on the other hand who have come -- a couple of different times making.
At least gestures.
-- toward some kind of compromise I think that suggests.
Where the leverage really lies in this debate -- Negotiations.
Chris hit it seems the president's doing everything but taking -- as he makes these decrees and pronouncements.
And and the Republicans for a life of me they don't seem to have a rejoinder.
Two to meet and deal with the president.
Well this is the starving time for the Republicans this is the very bad season for the -- a very unhappy Christmas for the Republicans.
Their whole goal is to get to the fiscal cliff.
And and get beyond that so that they can get to the debt ceiling.
The -- -- is where they have leverage where they have advantage it's where the president is asking to increase.
The debt ceiling beyond the 2.2 trillion.
These are American dollars the 2.2 trillion dollars.
That he was granted in borrowing power back in August the Republicans need to get to the point where that is the fulcrum for the debate president wants to have it all out now.
And do it -- he with -- -- an unconditional increase in a permanent basically increase in the debt ceiling.
Now in addition to the tax rate increase Republicans have to survive this time as it relates the tax increase and get -- to the ground of the debt ceiling.
What what are they -- the odds of survival SP remains it if you have the Senate Minority Leader filibuster his own proposal on the floor of the senate.
Which some consider he'll consider.
Yeah ally I mean it was certainly it was only a moment wasn't -- I -- If I don't think indebted to the Republicans clearly -- having a bad moment here I think -- Chris is right you're gonna look back on this in.
Six months or twelve months or a year two years and say this was the low point that's at least what most Republicans are open.
But it's not the case the Democrats are entirely organize and all sitting together.
On the same page -- you've had some democratic dissent on the question of he'd -- overall amount of raising taxes one -- extra and that scares.
Some Democrats in the senate you've had Democrats in the house.
-- clear their opposition.
With entitlements Medicare is a big Social Security that things that are driving the that the real problem here they are saying flat out we are not gonna do that -- got some.
-- differences among the -- But this president is giving -- very clear impression that he doesn't care what anyone else -- whether it be a Democrat or Republican.
In the senate the house -- on his own and his own team.
He's going to plunge ahead right over that -- am I missing something or Chris.
Now that's what he would like.
Most of all the thing that Barack Obama would like most of all and I don't mean this to say that he doesn't love America or whatever else.
What I mean is that the president is advantaged hugely.
On the other side of the fiscal cliff if he can get Republicans to join hands with him and -- and be on the other side.
Then all the tax rates go up and then he's negotiating from a hugely advantaged position.
He also if he can't get that.
What he would then hope would be that he could force Republicans into.
So he's right now on the tax question looking at win.
Win the only hope the on the ground that the Republicans and -- to stand out is that debt limit increase which happens in February.
See right here are saying is that you know just because -- wreaked devastation as president United States on your economy doesn't mean you don't -- your country.
Said very good about our that's about I work with Christmas -- does that.
I -- I -- it's it's it's an interesting position right now for for the president if you if you look at the president's argument I mean.
That is in effect what he's saying if you go back and -- -- you know I've talked about this before but remember.
The president argued twice that raising taxes in a time of economic struggle.
Would be bad for the economy called it -- stimulative he was very clear about this he laid -- the argument some detail.
Don't raise taxes when the economy -- when he made that argument.
We were growing at a clip of five point 6%.
GDP growth today we're less than 2% and he's making the same argued.
Don't want to thank you so much as always Stephen -- Chris firewall good to have you here much.
Filter by section