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Was happening in that meeting. maybe they were -- >> steve: they were slow walking. >> gretchen: no doubt. are we any further along down the path now that we're to thursday with regard to the fiscal cliff? we'll get to that in a little bit. >> steve: we're not. boehner and obama are still miles apart, even though they had a series of rapid favors and counteroffers. mr. boehner is still upset that the president refuses to budge on his insistence on fax rates fort top -- tax rates fort top people. ben bernanke said yesterday that the fact that we don't know what's going to happen with this fisca...

Run up $7 trillion in deficits. he's averaged a deficit of 9% of gdp. george bush was 2% to 3% of gdp. so, you know, i think the discussion is is it really a tax problem or a tax and a spending problem? if we agree it is spending, let's start to talk about some of the spending. >> where will the compromise come, though? is there room to compromise on the tax percentage, or if you do the sliding scale and move it from the 250,000 benchmark to 500,000 income earnings benchmark. >> i think the discussion the speaker advanced which matches what the president talked about in terms of his campaign o...

Of the tea party, at least in the senate, and they were stunned yesterday when he decided to resign. he's now going to be president of the heritage foundation, which is a conservative think tank in washington. one thing is for sure action he'll make more money in the new job. not sure that has anything to do with why he decided to make the change. i think it caught some people by surprise because he was sort of this leading voice amongst the more conservative part of the republican party. >> steve: sure. and his message has been all along, we're spending way too much. it's not a tax problem in...

Jay carny revealed yesterday. gretchen just said it is not a tax problem it is the way they waste our money. jay carny said deficit reduction is not the goal. are you kidding? here he is. >> deficit reduction is not the goal here. the reason to get our fiscal house in order and the reason to pass a deficit reduction package that is balanced and allows for economic growth is to put our economy on a sustainable fiscal path which again, in itself produces positive economic benefits and revenues are part of it this. the president put forth and entitlement reforms and savings gleaned from our healt...

Rates. there's other ways to get revenue that honestly are more economically productive in the long term. having said that, again, i think you might be better served to do this in pieces. first, we disagree with the democrats on a lot of things but we don't disagree about the 98% of the american people. we don't think their taxes should go up. to me since that's a point of agreement and doesn't affect either side's negotiating position on the other issues we ought to remove it from the table. make sure most americans don't have to worry about their taxes going up. having said that, again, i th...