Keeping Them Honest, Americans want compromise, but elected officials are instead blaming each other for stalled progress.
Rep. Lee Terry, R-Nebraska, says it would be politically advantageous for President Obama if no deal on the fiscal cliff is met by the end of the year, calling the administration’s proposals to tame the nation’s debt “disingenuous.”
"We come back from the election; we want to get the fiscal cliff resolved,” Terry told CNN on Friday. “But yet we aren't seeing anything from the White House.”
If no deal is reached by the end of the year, automatic federal spending cuts and tax rate increases will go into effect, a situation economists warn could slow economic growth and push the country back into a recession.
Mary Matalin and Paul Begala debate the strategy behind President Obama's fiscal cliff proposal.
Rep. Keith Ellison says a fiscal cliff deal must protect seniors, low-income Americans and those with disabilities.
Mary Matalin and Cornell Belcher react to the tax proposal President Obama offered as part of fiscal cliff negotiations.
Wolf Blitzer looks at why some Republicans are calling for a compromise with President Obama that would mean higher taxes for top income earners.
Sen. Paul says Republicans should agree to cut military spending to reach a deal before the Dec. 31 fiscal cliff deadline.
"I think the compromise is conservatives like myself who think national defense is very important should compromise on military spending and the liberals should compromise on entitlements and on social welfare spending. I think that compromise could get to some spending cuts," says Paul.
Paul tells Wolf Blitzer federal spending has increased at an "alarming rate" over the past four years. He believes raising taxes for anyone is not the answer, and it would be more beneficial to "leave it in the private sector."
Republican Rep. Tom Cole, who drew sharp disagreement from House Speaker John Boehner when he broke from party lines in the fiscal cliff negotiations, further stood by his position Wednesday night but added he would support the GOP no matter what decision was reached.
"I'm one voice. I'm not king of the universe, and I support my speaker," Cole, from Oklahoma, said on AC360. "I recognize he's the speaker. I support my conference."
In the fiscal cliff debate, Republicans and Democrats disagree over whether the Bush-era tax cuts should expire on the wealthy. President Barack Obama and Senate Democrats want to let tax rates increase for households making more than $250,000, while House Republicans insist the tax rates should stay in place for all Americans, including the highest income earners.
For Grover Norquist's Taxpayer Protection Pledge, the latest rebellion began last week in the South, by way of friendly fire.
"I care more about my country than I do about a 20-year-old pledge," Sen. Saxby Chambliss, R-Georgia, told Macon station WMAZ. "If we do it his way, then we'll continue in debt, and I just have a disagreement with him about that."
The next shot came from South Carolina's Sen. Lindsey Graham: "I think Grover is wrong when it comes to we can't cap deductions and buy down debt....I will violate the pledge, long story short, for the good of the country."
More Republican salvos followed. Rep. Peter King of New York said the hard line on revenue was based on outdated thinking: "A pledge you signed 20 years ago, 18 years ago, is for that Congress" - not an entire congressional career.
Sen. Dick Durbin discusses what Democrats and Republicans need to offer to reach a compromise on tax cuts and entitlement reform before the fiscal cliff deadline.
© 2012 Cable News Network. Turner Broadcasting System, Inc. All Rights Reserved.
| Advertise with us | About us | Help | Advertising Practices
Gumby celebrates Isha Sesay's birthday
Anderson Cooper's birthday surprise
You asked, Anderson answers
