President asked for hisn his initial offer last week. Other details in this offer being reported by nbc. Health savings of 600 billion. Other mandatory savings of 300 billion. A revision to cpi of 200 billion. And further discretionary savings of 300 billion. Guys, it looks like the horse trading is alive and well here in washington. Now this offer being extended from the republicans. You can assume that the white house will not think this is enough tax revenue to go forward, but, of course, offers are being exchanged here so thats a sign negotiations are under way, guys. Lets get into the details here. 600 billion in health savings. What does that mean for medicare . Break it down in terms of where these savings come from. I wish i could. What we dont have here is a lot of detail hanging off this Christmas Tree at this point. Were looking at a couple of bullet points being released now in terms of the scale of the deal. It gives us overall broad numbers. Presumably negotiators would h
Attack on the United States embassy in iman, jordan. Ill ask the countrys foreign minister for details. Hes standing by live. Im wolf blitzer. Youre in the situation room. We begin this afternoon with brandnew republican offers to try to save the 2. 2 trillion and avoid the socalled fiscal cliff. The acrosstheboard spending cuts and sharp tax increases that hit in just 29 days. Lets get straight to our senior Congressional Correspondent dana bash. Shes watching whats going on. Dana, the tax rates, first of all, lets get to a major Sticking Point right now. Theres been a counterproposal from House Republicans to the white house. You have details. Reporter thats right. Lets start exactly where you just began on those tax rates because that has become the big divide between the two sides. The answer is the House Republicans are not budging. They still want to continue the bush era tax rates at all income levels. Lets get specific. First of all, the counterproposal, they say they would get
Lackluster week. Lackluster again. Mixed markets, dow and s p 500 lower than nasdaq, but holding on. We got a report contracted, showing the lowest level of activities since july of 2009. Also, taking a look at dell shares. Surging more than 6 on an upgrade at goldman sachs, actually, a 180 on the stock. Goldman had it at a sell for two years, upgraded to a buying and increasing the price target from 9 to 13. Dell is up today. Back to you. Thank you very much. The majority, believe it or not of americans, have a low opinion of the lawmakers when it comes to being honest. Just above pushers at the local car dealership. Doug shone, what do you think of this . Ive been in the profession a long time. Ive seen it. Bottom line, just one category below politicians b and politicians, and thats political consultants. People are cynical, and with justification, lori. Whats going on in washington, they cant make sense of it. Do you think its change at all . Ust a fever pitch with the cliff coming
Gerri hello, everybody. Im gerri willis. A bold counter offer to president obama on the fiscal clef. The new plan contains 800 billion in new taxes, half of what the president was looking for. More importantly, the gop plan keep tax rates the way they are now. We know that is a deal maker for the tiebreaker for the president s. Joining me now, the man some democrats blame for the fiscal cliff impasse, grover norquist, president of americans for tax reform. And the many and as a finger to about fixing it, michael reagan, founder of the reagan group. I want to start with the republicans plan that they put on the table. They have been accused of doing nothing and all. They come up with their own plan which includes 800 billion in revenue from closing loopholes and eliminating deductions and then 1 billion in spending cuts. It is being rejected from the get go by democrats. Grover, what do you say . I think the republicans had a very good plan called lorraine budget. They all voted for it
Is simply fed up with the white house. There is a stalemate. Lets not kid ourselves. The white house stance three weeks trying to develop a proposal and they send one of pier that calls for over one half trillion in new taxes, calls for not even 400 billion in cuts and this extra spending that is greater than the amount theyre willing to get. But not a serious proposal. Lou Senate Minority leader writing a little easier in the midst of what is at best a process. He burst into laughter when treasury secretary presented the president s plan. The resident, meanwhile, showing no sign of interest initiation, giving no sign he is rey to make any significant step toward resolving the impasse. President obama cast himself as santa claus in a campaign tyle rally. His comfort zone, while blasting republicans and reminding them, he will not forget who stood in his late on tax increases. Of course santa delivers everywhere. I have been keeping my own money and nice list for washngton. Visiting tow