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seek his advice about what kind of lope holes, and other lop holes that allow associations to sidestep repairs. >> as i understand the reserve fund at this particular condo building was in the neighborhood of 700,000 dollars. >> exactly. that was to cushion the low they were facing. the argument is if they knew years ago they would have socked away money and they would have gotten the fixed down faster. >> and perhaps so many thousands of people would not have been as affected by the tragedy.
to confront the real understanding that there some of us who are absolutely committed to saving medicare as we know it and social security and that we will have to fight for it. our constituents center on the issues. the public is with us. the polls show that the public strongly supports that we take care of and save medicaid, medicare, and social security. these issues are very important to us. yes, the president will have to deal with us on that, but that's how the process goes. >> what consessions are you willing to make with entitlement programs. the president said it's on the table. >> the concessions i'm willing to make have to do with closing loopholes. the rich have to be lope holes. we have to pull back on the loopholes they have in the tax f
what's expected from the headline later tonight? because we're hearing about a few things, higher taxes for upper income americans. good morning to you. >> reporter: good morning, bill. and that is apparently the case, though it is not clear in what form the higher taxes will be. the president's aides say the entire cost of the jobs proposal which we're hearing is in the range of $400,000, will be paid for, off set -- offsets elsewhere in the budget. one of the president's senior advisers, vallerie jarrett, told fox business networks' pete you are barnes that higher taxes will be part of the equation. >> we need to have a fair tax system, we need to make sure that people are not -- that are paying their fair share and those who can most afford to pay a little more, do. so i think the process that secretary geithner has been going through, looking at corporate tax reform generally will come out later but in this particular bill, the president will be looking to close lope holes.