abandoned, at the same time the american people want the tax cuts extended and there is a consensus in america to limit the size of government, limit spending during a crippling recession. >> rick: tony, this negotiation or a lack of negotiation, if that's what ends up happening, how does that sort of set the stage and give us all an idea about what the next two years might look like? >> this is exactly right. this is the most pivotal moment of this obama presidency. this is scene one, act two for president obama. this is pelosi's last stand. she can't get -- he can't give in to her. she's the only person who has not received the memo that extending the tax cuts is what the consensus seems to be. if is he gives in to her, he'll reveal himself to be more ideological than pragmatic. >> rick: one of the people who will be taking part in this meeting is mitch mcconnell, the senate minority leader. he has already stated that his number one priority is to keep president obama from winning a