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Detailed text transcripts for TV channel - MSNBC - 20121231:12:08:00

Holding out, believing that they would rather vote to cut taxes after january 1st than vote for a deal now. so there s physically no time. i think it s very tough. well, but what dan s also saying is that just because the senate reaches a deal, even with the administration, there s no guarantee there are republican votes in the house to do it. yeah. we ve seen that problem throughout the past few weeks. yeah. meanwhile, democrats say the biggest setback came earlier in the day when senator mcconnell proposed changes to social security benefits. in an exclusive interview on meet the press, president obama said he had been willing to compromise to that issue as part of a larger deal. one of the proposals we made was something called chain cpi, which sounds real technical, but basically makes an adjustment in terms of how inflation is calculated on social security. highly unpopular among democrats. not something supported by aarp. but in pursuit of strengthening social sec ....

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Detailed text transcripts for TV channel - MSNBC - 20121231:12:17:00

And i go back to the summer of 2011 where the president and speaker boehner were negotiating over the debt ceiling at that time. and the president put on the table a provision that would have raised the medicare eligibility age over time to 67 in addition to chain cpi. the speaker didn t take that deal at the time, for various reasons. and then we ended up in this place. and once again, the last major offer the president made this time included chain cpi in addition to a tax rate threshold of $400,000. and the speaker, once again, didn t take it. so i understand that the speaker has different political considerations than the president, but in each instance, he s walked away from a potential deal that included entitlement program reforms and will end up likely with none of the above. and there s very little understanding about why, in the end, republicans didn t take that deal. there s a famous david brooks column from 2011 urging them to take the deal because that was ....

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Detailed text transcripts for TV channel - MSNBC - 20121231:12:07:00

Yesterday, minority leader mitch mcconnell reached out to someone he believed he could help jump start the negotiations and perhaps deliver an 11th hour compromise, and that would be vice president joe biden. mcconnell and biden reportedly spoke several times by phone throughout the night after talks with harry reid came to a halt. there s no single issue that remains an impossible sticking point. the sticking point appears to be a willingness, an interest, or frankly the courage to close the deal. i want everyone to know i m willing to get this done. but i need a dance partner. before i continue to set the scene, anyone here think biden can make a difference? dan? not before the end of the day. i just think that even if the senate even if they work out a deal that s acceptable to the senate, then it s going to go to the house. speaker boehner has said they ll either vote on what the senate produces or amend it. that s a lot of work to get done within a day. and i think there a ....

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Detailed text transcripts for TV channel - MSNBC - 20121231:12:22:00

Try to accomplish something. the biggest sort of frustration that we heard yesterday from democrats is that they want to see a reasonable level of where the taxes would kick in at a higher rate, and they re willing to move off the $250,000 that the president had originally set, willing to do some things on the inheritance tax. but republicans are really concerned about not enough spending cuts, they say, based on the deal that has been presented to them privately. we don t know all the details, but they re saying there s just not enough spending cuts and the new revenue and taxes would be to cover existing spending. and that s not the deal that they are hoping to get. that s where we are at the moment. before we go, do you think we re going to go over the cliff? reporter: well, because i m covering it, i don t want to wager, but i would say that the circumstances are not looking all that optimistic. but you ve got to remain hopeful, they are working at it. there was work that has c ....

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Detailed text transcripts for TV channel - MSNBC - 20121231:12:21:00

Out in terms of just talking to some of the members in the hallways here. i do think that there is a frustration in both parties that seems pretty evenly split about wanting to get something done. so where does that take us? well, there are a number of republican senators who say they are ready to make a deal. and i think as dan pointed out, there are some very intransigent republicans in the house who are much more opposed to this. but if you can t get democrats to go along, you could see a coalition building. can this happen today? it seems hard to comprehend that in the hours left, it can be done. but something could be done over time. and members i ve talked to say they are prepared to be here all day, all new year s day, and then on the 2nd, which is the last day of this congress. they d be prepared to continue working if there s something to do. it s a very small group of people who are actually in the room. now the vice president is a key player in this. many people see that as ....

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