11th hour deal. What tax and spending issues do need included in any compromise. Republicans, your number is democrats independents if you are outside the u. S. You can also catch up with us on all your favorite social media sites, twitter, facebook, or e mail us. A very good morning to you. Taking to the latest headlines on the fiscal cliff. I will run a few through a few of them for you. From the daily news also l. A. Times i will take to a boston globe the boston globe the New York Post the story i want to start with this morning is from politico. That line is Senate Leaders are headed into a critical sunday session of congress with a similar mission to avoid historic tax hikes, setting the stage for a high wire a final act of fiscal cliff negotiating just two days before the country is hit with a series of tough austerity measures. That again is from politico this morning. Youre getting your thoughts, and we want to hear your message to congress on the fiscal cliff negotiations. The politico story mentioned what was happening on saturday evening on capitol hill. Here is the Washington Post the Washington Post also offers a handy time line of what is set to happen today in the countdown to the cliff. At 1 00 p. M. , the senate is set to reconvene. At 2 00 p. M. , the house reopens. Tonight or tomorrow, on monday that is our schedule, the fiscal cliff count down today. I want to turn out to nancy cook of the national journal. She is here to give us give us all the latest. Her latest story and the cook, thank you for joining us. Guest thank you for having me. We are at this late hour. All of these tax hikes and spending cuts are slated to take defect in the new year. Congress and the white house had spent seven weeks of bickering over all these different elements of the this clip. As you know, there are many elements. Many tax provisions, a lot of spending cuts, and at this point, any deal that is reached will not deal with a lot of these things. It is going to potentially make some tax cuts for below 250,000. It will potentially patch the alternative minimum tax. It will not deal with the payroll tax holiday. The most likely will not deal with the sequester. It may earn it may or not deal with tax breaks for businesses. For all these arguments and ongoing things about these tax and spending issues, in the end, we will get any compromise, if at all. Host we hear about the flurry of proposals that happened yesterday. Any details that emerged from that that will tell us more about what we might be fighting over at the end . Is it just numbers in terms of tax brackets, were specific tax proposals . Guest believe what the two are fighting over is the threshold of the tax rates who is wealthy . People who make over 250,000 a year, or should that number be higher, 400,000, 500,000 . Another big Sticking Point is the estate tax. This has received a preferential tax rate dating back to the bush era tax cuts. It was extended again two years ago. That is the real Sticking Point. It divides the Senate Democrats. There are a number of Senate Democrats up for reelection in 2014 that not want to see that tax rate rise. That is a political football here as well. Host as we are in the final hours, what is motivating congress more, public perception, the stock markets . Guest i think it is both of those things. The stock market, all of the analysts i have talked to, they built in a certain amount of time to give congress a face to work this out. Increasingly, there is concern that if they do not work this out, the markets will react. Particularly kagel we go over the cliff and there is no game plan to resolve those issues at some point and we come up against the debt ceiling. You cannot underestimate the importance of public opinion. Neither side wants to get blamed for this debacle. That is in the back of peoples minds. Perhaps it is better to cut this small deal to show americans your doing something, congress and the white house are not completely dysfunctional. Host nancy cook is the budget and tax reporter for the national journal. How soon and we need to resolve some of these other issues in 2013, when we talk about the debt ceiling, arguments over the sequester . Guest we will hit the debt ceiling on december 31. Tim geithner recently said that. The Treasury Department will take some extraordinary measures to extend that. That will last about two months. We have a little bit of win room. Wiggle room. There will be a new congress in place. Some of the faces will change, but it will be ongoing and probably something that is dated from mid january to mid february as they look to cut a deal around raising the debt ceiling. Host nancy cook is the National Journals budget and tax director. , for joining us. Were taking your calls on the your message to congress as we near this fiscal cliff the line. If go to indiana on the democratic line. Jay is waiting. Caller good morning. And, for taking my call. Thank you for taking my call. I feel like our americans are politicians bosses. The government gets the money from us. I do not see how they have the right to sit there and play politics with each other and try to make decisions that are going to just benefit them. Maybe a small part of the population. This is the United States. Were supposed to be tried to help everybody. We cannot be scared of what is clear to happen to us when many people are barely able to meet their bills. They may have to be afraid of what is going to happen to them. What kind of government would do that to their people . They should try to make us feel calm. Like we are really going to get something done. Host from crawford, indiana this morning. On twitter another tweet i want to read this morning jodi wrtes in we will be taking your calls all of this morning for this segment and the next segment on the washington journal. We told you what was going on in the senate. Here is rollcall newspaper and what is being prepped in the house today alan ota writes, the speaker made it clear that is what is going on in the house. Lets go to charles on a republican line from maryland. Good morning. Caller i have been listening to cspan radio for a while. I did 11 years in prison. I did not start learning about politics until after 9 11. I learned a lot about it because i did not know anything about politics. Host what would you tell members of Congress Today as they are debating this final deal . Caller i would tell them that i think is funny how the government is occurring, as the lady said at the beginning of the show, over other peoples money. Who gives the government, democrats and liberals, obama, or anybody who has the right to decide when another american is wealthy . In the constitution, it is said that we have the ability to pursue life, liberty, and the pursuit of happiness. All this bickering is restricting and punishing achievement. I make next to nothing because of my past. I did my time. I do not care what they do. Personally, i hope nothing happens, because i know the game. Right before the deadline hits, they will pass something. I have been watching this for enough years to see that they will pass it. It will pass something because they have to play this game. Host charles from maryland, thank you for the call. Trawls brings up a rebel. He will be on meat meet the press this morning. The highlight will be president obama on nbcs meet the press. On abc this morning, senator chuck schumer. Along with jon kyl of arizona. On cbs, dick durbin and tom coburn, the republican from oklahoma. Fox news this morning, on fox news sunday, senator lindsey graham, the republican from south carolina, on what senator dianne feinstein, democrat of california. It should be a busy morning on the sunday shows. Back to your calls. June is waiting from wisconsin, on the independent line. Good morning. Host good morning. First of all, shame on a congress, particularly the republicans who have just wanted to does to destroy this country. The tea party, i am so glad i am able to say this, the t stands for treason, because they have done all they possibly can to ruin america, to overthrow our government. Host can you take us through the next 48 hours on this debate on the fiscal cliff . What needs to happen . Caller ok. I say, the president should be willing to come up to 300,000, as far as tax increases. We need revenue. 400,000, some people make that. We need revenue. The only way to get it is to get it from people who actually have the money. There is no shame in helping our government. This is our government. The republicans need to understand that Social Security and medicare listen, those are so important. People are talking about i do not want children paying the bill. They will need Social Security as well. I want republicans to realize that they were elected to do the will of the people. Not just the three or whatever. They all need to understand that we are all affected by their thinking the president won the election, right . Host thank you for the call. I want to take you through some of the effects, if we do go off the fiscal cliff, if Congress Takes no action. This is the chart from the New York Times of what will happen immediately and in the next couple months. In terms of the Immediate Tax increases, the payroll tax rise of 62 from four 0. 2 and workers first 113,000 of income. Capital gains, qualified dividends, and estate and gift taxes are subject to higher taxes. Higher earners face new taxes under the Health Care Law. Within the next couple glock a couple of months, the bush era tax cuts that have been debated over the bushera tax cuts on income expire december 31, workers will not fill the impact until the treasury releases new withholding instructions. Alternative minimum tax the charred talks about spending cuts, immediate and in the future. And it refers, payments to medicare providers would fall by 27 if there is no action. Extended Unemployment Benefits expire for about 2 Million People on january 1. To be the 110 billion in automatic domestic and military spending cuts known as the sequester. In the next couple months, the march 27, a six month extension of the temporary assistance for needy Families Grant Program expires. Domestic and military agencies have until the end of the fiscal year to put all of their spending cuts in place. Ha a few of the changes set to hit. Tustin, what is your message to Congress Amidst this debased . Caller my message is that a bill that have introduced, i hope that they tried to stop trying to fight each other and try to come together to move the country forward and pass whenever bill is necessary so we can avoid this fiscal cliff. If we do not do that, it will result in the economy, a tepid recovery we are having to go into recession. We do not want that. Host thank you for the call, justin. A few comments on our Facebook Page we are taking your calls and tweets and Facebook Messages all morning on this segment and the next segment about the fiscal cliff. We will go to franklin from georgia on the democratic line. Good morning. Caller good morning. I like to tell congress, congress is a mano kolinsky for the lobbyists. We have to deal with that. Monica lewinsky for the lobbyists. We have to do that. They are putting money in their pockets so they can take vacations and revitalize their homes. Host do you think this fiscal cliff nonsense is to make more members of congress money. Caller yes. Anytime you can say that corporations are people, you have already gone against i am talking about what the forefathers said. When they said that liberty and pursuit of happiness the two party does not the tea party does not want to make the pursuit of happiness for everybody. That is why we have a problem. The twoparty tea party was put on the americans, the same thing in the native americans. Making somebody else look like he did something that you did. You either stand up and make this country what the forefathers said it was supposed to be, or we need to take it we need to take this thing down under the ocean and drown it. Put a bullet in it. Host john from georgia this morning. I want to go for it go to john from North Carolina on twitter. He writes in we are talking about the sequester this morning. This story is from the Washington Post specifically on the sequester we are taking your calls this morning. I also want to let you know that you can go to our cspan fiscal cliff web site. That is www. Cspan. Org. Or fiscalcliff. That is something you should check of the next two days as negotiations take place. Joe is next from a Chippewa Falls, wisconsin on the went to the rich. No. The claim that if support, the middle class do not get the tax breaks, well go over the fiscal cliff. Is it all going to the rich or the middle class . Host joe, do think the country should go off the cliff . Are you particularly worried about what happens come january 1 . Caller theres no doubt the president wants us to so he can get all the money. That is what it is all about so he can get more money. Why would he be concerned . Host do you think there are any progress that should definitely be deftly be taken care of before we go off the fiscal cliff . Caller we are not going anywhere. All they do is take more money from the people. Host joe from Chippewa Falls this morning. I want to go go to patrick from montgomery, alabama. Good morning. Caller good morning. I am the one who says that congress should close shop. The fiscal cliff is an arbitrary, manmade slope. I think the government has got to cut spending. The government is taking 56 cents off my great tondchildrens credit card pay for Social Security. I think we have a spending problem. I think obama and the Democratic Party is pushing the buss over the cliff. I think congress should get out of the way and let them push it. We should have a rational negotiant. Negotiation. I think senator reid should get a vote for congress. That is about all have to say. Host patrick from montgomery, alabama. A republican from indiana and incoming republican freshman class president was on with us on a newsmakers. I want to play you a piece of him talking about the involvement of newly elected members. How involved are new elected members . A House Republican conference has been Holding Conference calls. Are you guys on the calls . Or do you guys not get anything until january 23 . It varies. We are not on every conference call. We were certainly there while you were there for orientation in the first part of december. We have been briefed on many of the policy proposals. We are being kept abreast, but i would tell you, it is not quite like being a member of congress. Host that was congressman select master. Luke messer. We are taking your calls this morning and Facebook Messages. Patricia rights in i want to go to don on the republican line from california. Good morning. Caller canyon me . Merry christmas, happy here happy new year. That last call shows you that the policy to win by dividing the country and making it us against them, the 47 , they are angry, they want your money, it is amazing. Indeed to pass an exemption, all government trouble is not to be paid for with the tax exemption. Amend the code says that anybody traveling for government purposes pays for themselves. That is obama and the 40 million worth of vacations. It is amazing. You heard the caller from georgia a comic that they are angry and they will write. You can see the country is being run by an amateur who does not know how to negotiate, he cannot write something on paper. Anybody in college in 101 knows that you need to negotiate in a fair minded way. He is out to ruin the country. Listen to his agenda. Host do you think compromise can be reached in the next 48 hours . Caller the answer is no. They want the retina. They are getting the money from the people they want the revenue. They are getting the money from the people. The government, in 10 years, in they have not cut anything. People are paying additional taxes, they are cutting back on their budgets. The government cannot keep spending money. We need a vacation for michelle and obama. Stop that. Lets have them pay their own after a share. That applies to lobbyists and anybody traveling for private reasons. This stuff is being run by amateurs. I thank you so much for being able to talk to you. We have a class warfare. It is not right. Everybody should go to church and say a prayer to god. Host dawn from california. Don from california. A column from Washington Times he notes that the bottom line is this congressman darrell issa in the Washington Times. Will go to the democrat line, charles from texas. Caller first, i have a question. This morning when i was watching the news, did i understand that congress is getting a raise next year . Host we will have a story on that later. Caller i think they should lead by example. They need to take a pay cut if we are taking pay cuts. We need to stop foreign aid all the way around. Host will that be enough to solve the debt problem . Caller know, there needs to be tax increases and spending cuts, but i do not think it has to come out of Social Security and medicare and medicaid. I think foreign aid and whistle spending, and i also think wasteful spending, and i also think that tax breaks are an entitlement because nobody gets them equally. Host i want to go from mike go to mike from the independent line. Caller i would like to say that this fiscal cliff is a charade. It is promoted by the media. It has nothing to do with fixing our economy. The president has had an opportunity to go to the g7 or the 20 and explain that western civilization is in debt so far that it is never going to get out of it unless we abandon these world trade rules, everybody go home to their own country, and do with the need to do to get back