a democratic source telling it differently, saying the president challenged mr. cantor for what the source called talk out of both sides of his mouth . they ll be back at the table tomorrow. the stakes could not be higher. moody s today put america s credit rating on review hinting at a possible rating drop. ben bernanke says defaulting on the debt would be catastrophic. jessica yellin is at the white house with what her sources are telling her. what have you heard from these differing accounts? reporter: democratic sources say that bottom line is that the president was schooling the crowd in the room when eric cantor changed his position. all along eric cantor as you have said, the house majority leader, had endorsed doing a deal that did reduce the deficit and that had some of these various components we talked about. but when he supported the short-term deal which as you ve pointed out the president has made clear he opposes, the president sort of told the entire group
sitting here? i ve reached my limit. this may bring down my presidency but i will not yield on this. congressman cantor says he says don t call my bluff, i m going to the american people on this. finally cantor says he pushed back from the table and left. a democratic source telling it differently, saying the president challenged mr. cantor for what the source called talk out of both sides of his mouth . they ll be back at the table tomorrow. the stakes could not be higher. moody s today put america s credit rating on review hinting at a possible downgrade. ben bernanke says defaulting on the debt would be catastrophic. the chamber of commerce also sounded the alarm. jessica yellin is at the white house with what her sources are telling her. what have you heard from these differing accounts? reporter: democratic sources say that bottom line is that the president was schooling the crowd in the room when eric cantor changed his position. all along eric cantor as you have sai
jessica yellin is at the white house tonight with what her sources are telling her. jessica, what have you heard from these differing accounts? reporter: anderson, democratic sources say that bottom line is that the president was schooling the crowd in the room when eric cantor changed his position. all along eric cantor as you have said, the house majority leader, had endorsed doing a deal that did reduce the deficit. and that had some of these vary krause components we talked about. but when he supported the short-term deal which as you ve pointed out the president has made clear he opposes, the president sort of told the entire group that this is exactly what americans think of as washington at its worst, washington catering to the base, catering to politics, putting their own political future ahead of doing important things and taking on the big issues. and that he called on the group to take on this challenge and then called the meeting to an end. no matter how you rea
receiving for the last 12 years $125,000 on every million that they earn. but let me put in context what the mayor said and i think the whole story and that is the mayor said that he would agree with tax raising when accompanied by spending cuts and that s the whole picture and we have to address as you do with any budget both revenue and spending. and if you remember back in the days, 20 years ago with ross perot and deficits then, bill clinton came into office, raised on top earners. we saw surplus the economy was strong, then what happened? 10 years ago, bush comes in with that surplus, gives away tax cuts. has two wars and we end up in deficits and the economy in debt. we know that taxes and spending have to be addressed in this. and we all know that ronald reagan raised taxes three times. he also lowered them to pretty much as has obama. and also has 52 weeks of job
congressman ryan and the republicans have said let s have an honest debate about reforming government, changing the way we spend, changing our entitlement programs, solving the problem in the short term so that we don t have a long-term burden that s going to be placed and change the whole nature of the country. i think that congressman ryan has done a great service. the president didn t provide the leadership he should have provided back in december when they got together and proposed something very, very real and he could have embraced that. that s what the debate could have been about. instead paul ryan steps forward and the president is responding and quite frankly he s not living up to the challenge that paul ryan out out there. andy, any tax raising on the wealthy or allowing the bush tax cuts to expire for the wealthiest americans, that s off the table for you? well, no. we just extended the bush tax cuts for two years. and here the president is going out on television say