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It's time to start acting in the interest of the country, as lindsey graham said. you can't do it by capping deductions. as bill clinton said, the math does not add up. unless you specify the deductions that you want to get rid of or the ones that we need to reduce, they are the ones that are massively unpopular. >> governor, what i think lindsay graham was saying is that the reductions and deductions would be on the higher income earners. you wouldn't tell somebody who is in the middle class that they can no longer take their mortgage deduction. >> no, i understand that. but the math, as bill...

Church back home, and if a beau dis monk is wishing me well i will take whatever good vibes he can give me. >> it might take prayers. joining me brendan, former communications director for nancy pelosi, and mark mckinnon, distributor to the daily beast. what about the need for prayer, brendan? you've been through budget negotiations and saw the democratic leader nancy pelosi said over the weekend that there is no give on the, you know, fundamental demand about some adjustment on tax rates. >> right. >> top rates, that you can't get enough by capping deductions to make up what you need to get s...

What you can get if you limit deductions. in fact, the romney plan, capping deductions at $17,000 i think everyone agrees it would give you more than the president is asking for this 1.6 trillion. >> alisyn: that's right. that's what the tax policy center did he dued that romney's plan capping at 17,000 bring in more. how can both sides be so far apart? are they just playing chicken with each other okay i will let you go off the fiscal cliff. you let me go of o00 fiscal cliff what's going to happen? >> it's a weird scenario. republicans are saying mr. president here is a way to raise billions ...

Point. they still really want that -- to say that they want to tax the wealthy. but i do think that there is some wiggle room from them, the top economic adviser cited at least $1 trillion in revenue, which is slightly different than the $1.6 trillion that the president had been talking about. and so i think that we may see that threshold of 250 creep up a little bit. and i also think that the administration may be looking at other ways to tax the wealthy, like, capping deductions, tax deductions, or things like raising investment income taxes, which is slated to happen at the end of the year....

"losing never feels good." >> we were surprised at the outcome. e we knew this was going to be a close race. we thought we had a good chance of winning. it just wasn't enough at the end of the day. i respect the process is done and i congratulate the president on the race. we now have divided government like we did before. the divided government didn't work. we're going to have to make this divided government work. >> and there are new signs that the word compromise may not be such a dirty word in washington. rand paul says he's ready to work with democrats on immigration reform. and a big con...