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Default is terrible. >> megyn: is that what they're threatening or a red herring, some republicans say if we have to do it we'll do it, but we're thinking we'll get to the point where there'll be government shutdown and we'll be able to pay the bills with tax income coming in at treasury and not going to do anything other than shutting down the government. that's the rift. >> to that point, it's clear the spending issue has to be dealt with at some point and the threat of default gets everyone to make some decisions on that, that might be a good thing. would i say about the president's swagger...

When social security was passed back in the '30s, i think the average american lived to be about 61. this year the average male, 79. the average female, 81. we need to adjust these programs for the future so that they'll still be there. the trustees of medicare and social security say that medicare is going to tank in 10 years. the question is, are we going to preserve these programs for future beneficiaries? the president should be leading, not being dragged to the table by republicans who want to solve the biggest problem confronting the future of our nation. >> if you are not satisfied that...

The spending issue next year. honestly i expect that will be the dominant issue along with trying to overhaul the tax code going forward. so that's usually pretty good ground for republicans. >> now, this deal was hammered out by mitch mcconnell and vice president biden. speaker boehner was notably left out of the final negotiations. what message does that send? do you think his job is in jeopardy? >> no. look. i think the speaker has enormous support and i don't think he was left out of the negotiations at all. number one he didn't try to inject himself in it but the vice president and certai...

New year. >> thanks, chris. >> happy new year. >> so, what can we expect in the lower chamber when the house convenes at noon? i'm joined by kentucky democratic congressman john yermouth. you were on the floor yesterday calling for reasonable compromise. is this it? >> i think it is certainly on the taxes. i'm very supportive of the agreement that was reached. i think the threshold on income taxes is something that most people will agree is very reasonable. i think raising capital gains and dividend rates only for people making over that $400,000 limit makes sense, and i'm fine with the estate...

At the end of the day, you've got to deal with the spending side of the equation. and while you may want to, you know, chop down on republicans who, you know, have been intransigent on this point, it is the core problem here, is that we don't have a revenue issue as much as we have a spending issue. and those republicans like myself and joe and others who said let's look at this picture in total. you have to focus on that side of the equation as well and deal with those realities that we spend more than we have. >> robert, bystander? do you want to take that one? >> yeah. i mean, again, we're ...