proposing to raise taxes by $1.6 trillion, while cutting spending by $400 billion. on top of that, mr. obama asked for $50 billion more for infrastructure spending and $140 billion to extend unemployment insurance benefits and the payroll tax cut. republicans literally laughed it off. they want. they want to have this extra spending that s actually greater than the amount they re willing to cut. i mean, it s. it s. was not a serious proposal. and so, right now, we re almost nowhere. reporter: across the capitol, republican senate leader mitch mcconnell told the wall street journal his party would be willing to bring in more tax revenues if the president agreed to tighten up the eligibility requirements for entitlements. mcconnell said that could mean higher medicare premiums for the wealthy, an increase in the medicare eligibility age and slower cost-of-living increases for social security. but he ruled out higher tax rates. most democrats have ruled out all of those cu
proposing to raise taxes by $1.6 trillion, while cutting spending by $400 billion. on top of that, mr. obama asked for $50 billion more for infrastructure spending and $140 billion to extend unemployment insurance benefits and the payroll tax cut. republicans literally laughed it off. they want. they want to have this extra spending that s actually greater than the amount they re willing to cut. i mean, it s. it s. was not a serious proposal. and so, right now, we re almost nowhere. reporter: across the capitol, republican senate leader mitch mcconnell told the wall street journal his party would be willing to bring in more tax revenues if the president agreed to tighten up the eligibility requirements for entitlements. mcconnell said that could mean higher medicare premiums for the wealthy, an increase in the medicare eligibility age and slower cost-of-living increases for social security. but he ruled out higher tax rates. most democrats have ruled out all of those cu
the negotiations to avoid huge tax increases and spending cuts at a stalemate. the race to solve the fiscal cliff triggered another round of dramatic sound bites from republicans and president obama. darren gersh has the latest. reporter: the president is still pushing to wrap up a deal on the fiscal cliff before christmas and just in case anyone missed that point, he visited a toy factory to urge congress to avoid raising taxes on the middle class. that s sort of like the lump of coal you get for christmas. that s a scrooge christmas. a typical middle-class family of four would see their income taxes go up by about $2,200. reporter: the president is proposing to raise taxes by $1.6 trillion, while cutting spending by $400 billion. on top of that, mr. obama asked for $50 billion more for infrastructure spending and $140 billion to extend unemployment insurance benefits and the payroll tax cut. republicans literally laughed it off. they want. they want to have this ext
tom: i m tom hudson. businesses aren t waiting for a deal, they re rewarding shareholds with special dividends ahead of higher taxes in 2013. susie: investors sour on yum brands, after the parent of k.f.c. and pizza hut says sales are slowing in china. tom: that and more tonight on n.b.r. susie: the fiscal cliff talks are going nowhere. that s the word from john boehner today. the house speaker characterized the negotiations to avoid huge tax increases and spending cuts at a stalemate. the race to solve the fiscal cliff triggered another round of dramatic sound bites from republicans and president obama. darren gersh has the latest. reporter: the president is still pushing to wrap up a deal on the fiscal cliff before christmas and just in case anyone missed that point, he visited a toy factory to urge congress to avoid raising taxes on the middle class. that s sort of like the lump of coal you get for christmas. that s a scrooge christmas. a typical middle-class
i m jim cramer, and welcome to my world. you need to get in the game! firms are going to go out of business, and he s nuts! they re nuts! they know nothing! i always like to say, there s a bull market somewhere mad money, you can t afford to miss it. hey, i m cramer. welcome to mad money. welcome to cramerica. other people want to make friends, i m just trying to save you a little money. my job is not just to entertain you but to teach and educate, so call me. so we go over the sequestration cliff and what happened? so far, not only did the averages not get crushed but they actually went higher. dow gaining 35 points. s&p rising .23% and nasdaq increasing .30%. how can the market keep rising when there s so many things going against us? consumers are getting squeezed. higher gas prices. end of the payroll tax holiday. now we have to cope with the allegedly draconian government spending cuts. not so fast. according to the michigan survey, consumer confidence sur