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Worried. 68% say the $600 billion in automatic tax increases and spending cuts would have a major effect on the u.s. economy. 44% say it would have a major effect on their own financial situation. and there's little confidence both sides can work together and find a compromise. only 38% say the president and congress will reach an agreement. as we continue to take a serious look at the issues facing the country, today the issue is taxes. we've got the alternative minimum tax, child tax credit, estate tax, it's a mess of taxes set to expire. what are we left to do when they do? let's bring in d...

Do you think we're going to get that in the end? >> i actually do. they are these taboos. if you're a republican, you didn't talk about the need for more revenues. we needed to do something about the deficit, but it all had to come from spending. the republicans got their way. remember the talks about boehner and the negotiations on the debt ceiling. he got 98% of what he wanted. so the conversation used to be we will cut the deficit through spending cuts. now within the space of a week, the same people, glen hubbard who was romney's chief economic adviser slated to be the federal reserve head...

By the way, it was 17,000 in terms of capping deductions and then it went to 25 and all of that's -- again, it's a symbol of a group that has no clue how to make this math add up and you can't make it add up. there are not enough offsets to pay for the $5 trillion cut full stop. >> dana, what's the politics of this? you throw out a plan, you back it up with 1.3 trillion, which has you 3.5, 3.8 really trillion off. what are the politics of that? are they trying to throw out something to make it look like they have a plan? what's the politics of this? >> i think the assumption is you outline the...

>> the devil's in the details. the angel is in the policy. >> can you go into a debate, erin, with just kind of talking around it, the devil's in the details, loopholes without specifying which loophole deductions without saying which ones? doesn't he have to be more specific tonight and really show that he has a detailed plan that is superior or at least equal to what the president has been saying? >> he does and in the past couple of days he has done some of that. he floated the idea of capping deductions at $17,000 a year. so we'll see some of that from him. it's interesting to see what the...

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