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Cliff talks with democrats. treasury secretary tim geithner saying and telling chris wallace republicans must accept the tax hikes for the wealthy to reach a deal. a deal is what we are after. peter doocy live in washington with more. peter, tell us first, speaker boehner -- the big problem right now with the white house proposal that was just presented. >> jamie, speaker boehner says he was flabbergasted when the treasury secretary geithner came to capitol hill and told him what the president wants. and this is why. >> the president is asking for $1.6 trillion worth of new revenue in ten year...

Washington. >> chris: let me pursue this. the president is proposing the buffett rule. the idea if you are making at least a million dollars a year you should pay at least a 30% tax rate and proprosing this just as we find out that mitt romney who is a multimillionaire was paying a 15% tax rate. again, isn't that on just the simplist basis fair? >> if you oversimplify you could make the case. the effective tax rates at the higher end are still higher than everybody else. look at the math. all the tax increases only cover 8% of the proposed spending increases. the other 92% of the president's s...

And the country's biggest challenge, domestically speak, no doubt, is a debt crisis and i'm really hoping that he's going to give us a budget that tackles the debt crisis and if what the -- the early press reports show he's abdicating leadership on that point and it looks like the debt will rise end the budget. >> chris: if it is as it has been reported. and, there is reason to believe these are leaks from the white house, is the budget which has spending increases, for infrastructure and education and research, is this budget, the president's banks dead on arrival? >> well, i don't like to sa...

They decided to speak. so the people spoke with a very i would say uniformed voice in a race in particular in delaware that you mentioned. people identified mike castle, with a candidate that j obama agenda, which is out of control spending, tax increases that are planned and job-killing bills. they've said no, they don't want it. whereas, christine o'donnell represents the new kind of candidate that is listening to the people. who is clearly said she opposes spending increases. she won't be voting for any tax increases. she is also going to repeal very bad bills like the government take over ...