ago. two things are going on on the cap and trade programs, he knows it can t pass congress, it s not going to pass congress, and this is his excuse that he s putting out there to do what is now becoming much more common in the obama administration and executive power. what he said was a challenge, either pass this bill or i m going to do this unilaterally through regulatory action. he knows that s what he s going to do anyway, this is his excuse. on the tax part, oil and gas, a new way for him to continue funding his green energy projects. we ve got a big natural gas and oil boom and i think the administration made the decision rather than necessarily fight that, because it s a big job creator, you try to siphon some of the money off it and use it for your own ambitions like war, solyndra, more wind and solar powers. paul: and this could be a play for the second term, minimum wage, republicans are saying $9 from 7.25, they like
ago. two things are going on on the cap and trade programs, he knows it can t pass congress, it s not going to pass congress, and this is his excuse that he s putting out there to do what is now becoming much more common in the obama administration and executive power. what he said was a challenge, either pass this bill or i m going to do this unilaterally through regulatory action. he knows that s what he s going to do anyway, this is his excuse. on the tax part, oil and gas, a new way for him to continue funding his green energy projects. we ve got a big natural gas and oil boom and i think the administration made the decision rather than necessarily fight that, because it s a big job creator, you try to siphon some of the money off it and use it for your own ambitions like war, solyndra, more wind and solar powers. paul: and this could be a play for the second term, minimum wage, republicans are saying $9 from 7.25, they like
we need to do whatever we can to support job creation. raising taxes more than was accomplished in the last few weeks on any category of americans is not a good solution to a problem that is fundamentally a demographic problem. neil: you don t argue that taxes should be part of it. you argue that we got the tax part of it. let s focus on the spending part of it, right? we can ratchet back people in higher income brackets receive once they become eligible. that addresses that issue. what we want to do is weak economy, the last thing we would do is just that. neil: just showing a direction at least more fiscally sound could pay rich dividends. not only the markets will jump
white house and vice president joe biden here, we should vote on this tax part tonight. trace? trace: rich edson live for us on capitol hill. thank you. as lawmakers continue working on a compromise, much of the nation getting ready to watch the ball drop in times square. and security in new york city as tight as a drum. a few hours ago, the nypd started allowing revelers into times square. we re told thousands of extra cops are on duty. radiation detectors. of course, if everything goes without a hitch, the 1 billion people expected to watch the ball drop won t even know the security is there. and that s the point. our own megyn kelly and bill hemmer are live in times square. they are hosting tonight s all american new year s eve right here on the fox news channel. i just checked with the weather center. they are saying like it s a
we have got even word a few moments ago that we will hear from president obama. he will be speaking in about a half an hour from now on negotiatings over a debt deal 0, just about 11 hours left now until washington s failure to reach a deal would trigger a big series of tax hikes and spending cuts. welcome to america live i m rick folbaum. i m arthe arthel nevel. the president is expected to make remarks within the hour about the on going negotiations about the so-called fiscal cliff. we ll bring that live to you when it happens. sources are telling fox news that congress has figured out the tax part. the main bone of contention is at this point the spending. the white house wants new spending using tax hikes to prevent some of the severe budget cuts that also kick in in 11 hours from now. republicans argued that is just robbing pete tore pay paul. chief congressional correspondent mike emanuel is live at the capitol following