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Americans, on big corporations, as well as an across the board tax increase, at least 30% tax for wealthy americans, so-called buffett rule. i can't imagine the republicans, especially in the house of representatives going along with that since they did go along with averting the fiscal cliff and raising taxes on wealthy americans at the end of the year. >> they're already saying, look, we did that. we gave you -- we gave you tax increases, and we're not going to do it again. i think what the most interesting thing about the president's budget is the point as jess was pointing out earlier that...

Education for all kids in america which we're looking for the dollar figure on that, it's going to come out soon and that's going to be a big price tag republicans really dislike all that new spending. you ask where this goes. it could go nowhere from here tonight he sits down with a dozen or so senators, republican senators to talk this over, guns, immigration, and see if they can revive any sort of talks. not a lot of optimism in washington that deficit deal will get going from here. but this is the president's offer to restart -- kick start that discussion, wolf. >> yeah, at least there's a...

Will not raise taxes anymore. the president is insisting just that. bill: just to drill down just one more point on this, what the president said over the weekend was tax rates won't change. >> right. bill: which, pay attention to that. that phrasing there. however, you bo after the loopholes, whether it is, interest rate deduction, whether charity deductions will stay on the table or not. do you see any of that being mixed into this current debate? >> yes it is, very much is in the debate but if you cut deductions, the president calls them loopholes, if you cut deductions those deductions are...

Discussions? >> if he did i didn't hear it and it wouldn't make a lot of sense to me. bill: now why would that be? >> well, because it wouldn't, it wouldn't create a lot of jobs. you don't have to go to the cato institute or heritage foundation --. bill: why do a deal if unemployment is where it is and jobs and economy was the big deal during the election? >> i would argue this all goes back to politics. the president started a 2012, a little over a year or less than a year ago today, now when the president introduced this "buffett rule" argument. and he focused on it his state of the union. c...

Buffett rule. i have said because it's not going to be that much money anyway. we need to get to the real issue. >> right. >> how do we pay our debts? the buffett rule won't do it. austerity doesn't lead to job creation. i think that's proven. but neither does high debt levels long term. >> everyone agrees that the debt level is too high and a problem. here's what i tell my colleagues. we're a blindfolded man walking towards a cliff and the only debate is not whether we fall off that cliff but whether the cliff is 50 yards away or 500 yards away. there's a simple solution. like bob kerry said ...