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Detailed text transcripts for TV channel - MSNBC - 20101220:12:31:00

most potent arguments republicans were able to say which you can t raise taxes on anybody when you go through a slow recovery. they are banking on that. number two, the president says that he and republicans are going to have a very serious talk about the deficit and once that talk takes place, everyone will understand that there s going to have to be massive spending cuts but also going to have to be some realistic revenue chats. you are already hearing the republicans take the other side of this argument which is we need to keep taxes low and i imagine 2012 we ll do it again. savannah, put on your voice memo thing and just record this. are you ready? yes. what s going to happen in 2012? the economy is going to get better. unemployment will be down around 8.5% or so and bush tax cuts will be extended beyond 2012. they re not going to raise it in an election year. that s the point. if the president couldn t win the debate now, he won t win it in 2012.

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