It is 3 00 p. M. On the east coast, noon on the west coast. This is your money. Im ali velshi, were following breaking developments on the fiscal cliff. We welcome our viewers in the United States and around the world. There has been a major snag in the negotiations toward a fiscal cliff deal with fewer than two days remaining on the countdown clock, dana bash is on capitol hill. Tell us what the main point of contention is now. There are few according to sources in both parties. The biggest one when it comes to the democrats, from their point of view, is the fact that republicans in an offer that they made last night included what is known as chained cpi in laymens terms and in terms that matter to many americans, it would effectively make Social Security checks lower each month. We learned this from sources earlier. The Senate Majority leader, harry reid went to the senate floor and talked about the snag. List ton what he said. The one thing i do want to mention is that were not goin
Been described. They have to do that with 100 . Epublican vote. We stand ready our members have signed letters and petitions to open government, that we are therefore a coin legislation to open the government, clean legislation to lift the debt ceiling, that would take us on budget deal in any and all issues can be discussed. That is where we are. I am optimistic here at i believe because of the impact of not lifting the debt ceiling, on , is soalone actually catastrophic there will be those in the Republican Party who will see the light. We stand ready to supply the vote. If they go on the path they are on, they will need 100 republican vote. Thank you. I agree with the leader this was a very positive meeting. The president is very committed to getting the government open. Obviously, making sure america pays its bills. Thatsured the president those two objectives have the overwhelming almost unanimous support of our caucus. We have a letter signed on the debt limit and will be the ope
Tracy im tracy byrnes in for gerri willis, less than 3 weeks before u. S. Falls off the fiscal cliff, speaker john bain ser slamming the brakes on any hopes a deal is coming soon, making it clear both sides have differences. Second in command, eric cantor warning members not to make any plan for holidays, and kevin brady of texas, vice chairman of joint economic committee, thank you, are we still that far apart . You know we are. I started optimistic to get this done before the holidays, but, i dont feel that way, it seems to me the decision has been made, perhaps by white house to take us off this fiscal cliff. I think this is irresponsible to do it were ready to work out a reasonable sound solution but i do not see that coming from the other side right now. Tracy is it because there is so much going on behind scenes. They think there is a lot of secret wheeling and dealing with john boehner and the president do you agree . I do not, i think he they have been sporadic talks, i know Sp
Dead in for gerri willis, less than 3 weeks before u. S. Falls off the fiscal cliff, speaker john bain ser slamming the brakes on any hopes a deal is coming soon, making it clear both sides have differences. Second in command, eric cantor warning members n to make any plan for holidays, and kevin brady of texas, vice chairman of joint economic committee, thank you, are we still that far apart . You know we are. I started optimistic to get this done before the holidays, but, i dont feel that way, it seems to me the decision has been made, perhaps by white house to take us off this fiscal cliff. I think this is irresponsible to do it were ready to work out a reasonable sound solution but i do not see that coming from the other side right now. Tracy is it because there is so much going on behind scenes. They think there is a lot of secret wheeling and dealing with john boehner and the president do you agree . I do not, i think he they have been sporadic talks, i know Speaker Boehner has b
To you. That deal has now been nixed. Republican leadership in the house appear to have no idea what to do next and there is no good reason to believe anyone knows what will happen next. The house measure that was to have been voted on would have funded the government through december 15, extended the debt limit to february 7 and ended employer contributions to Health Insurance for members of congress and its staff, the white house and its staff as well as cabinet members. In this case government contributions since the government is the employer. As that made its way to the house rules committee, heritage activists urged them to vote no. And shortly after a vote was killed. Just 24 hours after we thought we had a deal coming from the senate. Reporter here is another layer of gamesmanship to the drama playing out in washington. Senator ted cruz in texas convened in a secret meeting last knight. Cruz summoned 15 to 20 House Republicans to the basement of this mexican restaurant. They we