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i m erin burnett, outfront tonight,a major concession the president and leading democrats will drop a surtax on millionaires as the way to pay for the payroll tax cut extension. this is a huge step in breaking the impasse that threatened the tax cut and may have shut the government down again. here is the bottom line. the ds and rs each fought for one big thing this payroll tax battle and that is a nonstarter for the other side. the surtax for the democrats and the keystone pipeline for the republicans. now whether you love or hate either one of those ideas, the fact was this, both were deal breakers. we ve been saying this all week. and compromise really isn t that hard. here s the decent proposal we ve been putting out there as an example. extend the tax cut for those makes less than $75,000. that costs about $48 billion. but you can pay for it by charging more to mortgage lenders and more to millionaires for medicare. it actually comes out even. and there s a lot of ....
from the summer break. president obama has actively been meeting with some to create a plan. the question is how specific will it be and will it help? white house officials tell us it s a work in progress, and will include tax cuts and infrastructure ideas that could create jobs, and measures that target unemployed, and struggling economic sectors. they say the president is working on a debt reduction proposal and will present the so-called super committee, and as you know it s the 12 lawmakers tasked with cutting trillions from the federal deficit. their plan is due at the end of november. and the president s debt plan will go beyond that $1.5 trillion. now republicans who have been calling on the president to come up with a plan of his own, and they are now responding. we appreciate the fact that he is trying to devote some time to it, and not just on the bus tour, and not vacationing at martha s vineyard, but giving thought to the american people, and i thought tha ....