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Break as you know. when you look at the sequester, senate democrats are expected to announce their plan to avoid the sequester, showing that according to one report it's a 50/50 split over the next ten months, spending cuts and new taxes, part of their idea, including the buffett rule, which is the cap deductions and loopholes for millionaires so they pay at least 30% of their salaries in taxes. would you support that as we get closer to that deadline? >> yes, and i think the senate is really on the right track. where i would like to end up, and this is actually part of the internal debate in ...

But just more of the same. the conversations that the staff had yesterday, just more of the same. it's time for the president, if east serious, to come back to us with a counteroffer. >> not a no on the rates going. up thing. john boehner didn't answer the tax part of the question at all. he talked about the phone call. it was pleasant. he didn't say we did not allow tax rates to go up at all. you see the deal that's taking place. a lot of the players i talked to think something like this is going to happen. the final rates raise a bit giving democrats a win. giving republicans a win. maybe th...

Think something like this is going to happen. the final rates raise a bit giving democrats a win. giving republicans a win. maybe they will be 37%. maybe 38%. that won't raise enough revenue so it will be combined with policy to cap deductions for the rich. that won't take effect right away. it will be phased in. it will probably include an exemption for charitable contributions. the harder question is what republicans get on the spending >> that's not a no. here is the treasury secretary timothy geithner. >> there's no agreement that doesn't involve the rates going up on the top 2%. >> not ne...

Entitlement cuts. president obama seems to be indicating balance means getting more from the wealthy and likely to mean raising rates. as he said today and prior to today, the math doesn't add up if you simply close loopholes, cap deductions, do those sorts of things. we're sort of where we always have been. it's where we have been for several years at least when it relates to congress and the president simply not being able to resolve what are fundamental differences. we talked about this before the election, andrea. the election was supposed to tell us something about what the american publi...

>> governor romney has nothing to lose, he's obviously lost the election. he can be straightforward with the president. doug, i love you and i hope you're right about this. in terms of optimism, but there is nothing in the president's history or background over the last four years that indicates any sense of compromise or conciliation or reaching out. >> he's already said he's willing now tentatively to come down on the top rate in the negotiations, and he's hinted at entitlement reform. if governor romney's plan which is a cap deductions comes up today, and they talk about using the governor'...