Page 3 - Fall Back Position News Today

Distorting the truth and if you are talking about fiscal resolve you are not showing it. i think if they change that unless they agreed to an accord with bigger cuts, it makes a mockery and it is theerl over it. >> you cant a process where you agreed to cuts where as it is a fall back position and come in later and with draw it. >> that makes you a phony it makes a speaker the phony on and democratic leadership a phony and canard of the entire process. you say you are serious about this. i was t...

There is a new poll out that shows 85% of registered voters are not confident that a deal will be reached in time by the super committee. they are feeling the pressure again, but you have all of these reports out that this deadline doesnt mean anything and the cuts would not take effect for a long time and people are looking for ways to get around it. >> the expectations have been softened so much for members as well as the public you pointed out. it gives people a sense that nothing will get do...

Since he is republican reach of perhaps winning a couple of primaries, he had no fall back position. usually if you dont know right away, you have a template. politicians walk around with templates on foreign policy. how to put questions into it and they talk about broader issues in terms of national security. he had no clue on any level here. he was trying to find the easy answer. >> indeed. >> he said listen, the problem was that obama didnt identify the opposition before he went in and should...

>> but my question is on the number. if you get beyond $1 trillion and he still cant get any tax increases, the president said im not willing to cut more spending without having tax increases. >> well, what the president said was to do major structural changes on the spending side, there would have to be major tax increases, and we could see a path of getting to well over a trillion on something we agree to. >> if thats sort of a fallback plan, because he wanted something like $4 trillion over t...

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Think the deadline is. >> what mystified me and confusing to a lot of other people i read about it in "the washington post" last nights speech from the president sounded more like a political speech, a 2012 speech. he was talking about a balanced approach the very day that the white house signed off on the harry reid approach which was not balanced because it didnt have any taxes in it. the bottom line is why come out and give the speech he gave last night when he had already endorsed a fall bac...

>> in other words, the markets, our creditors are going to look at that and say thats not a fall back position, thats well short of what they should be doing. >> i think looking at the markets, theyre saying two things. first, the united states cannot default. and that is the bare minimum. i say that, again, only because it has to be clear that there are some extreme views in some places that think thats something we can do. we cant. the second is, we need to get our fiscal house in order. i thi...

Doing it with just about $2 trillion of deficit reduction. thats not a solution. thats not going to fool our creditors. >> in other words, the markets, our creditors are going to look at that and say thats not a fall back position, thats well short of what they should be doing. >> i think looking at the markets, theyre saying two things. first, the united states cannot default. and that is the bare minimum. i say that, again, only because it has to be clear that there are some extreme views in s...

Our creditors are going to look at that and say thats not a fall back position, thats well short of what they should be doing. >> i think looking at the markets, theyre saying two things. first, the united states cannot default. and that is the bare minimum. i say that, again, only because it has to be clear that there are some extreme views in some places that think thats something we can do. we cant. the second is, we need to get our fiscal house in order. i think weve said for some time now, ...

35% if your estate is worth more than 5 million as an individual, and 10 million as a couple. >> reporter: yes. democrats wanted to be the negotiating point, the cut off to be 3.5 million, the exemption and they wanted it to be 45% on an estate tax. that was their fall back position. the white house has gone further and reprieve bone to republicans to try to get this deal to all come together. it is not sticking well on capitol hill with the democrats, and they are all in revote, and this is a p...