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The cliff so that he can reap the benefits of all of the tax revenues that would be had by everybody's taxes going up? >> i think that is historical revisionism of a very current type. he is already trying to spin this because i think it is clear from the polls that most americans want a deal. they want a compromise. at the moment are blaming republicans and so i think that what he is trying to do at this point the president is delighted to go over the cliff because he see political advantage. gregg: why is he waiting so late, juan? >> i think everybody thinks we should have had a deal a long ...

Voting on whatever package they come up with. now that we're days away from actually going off the fiscal cliff where these automatic massive spending cuts as well as large tax increases got into effect you have to have low expectations. it appears the white house is very confident in waiting for the republicans to make the next move. they keep saying inside the white house this is up to the republicans. they're the impediment here. when you listen to senate republican leader mitch mcconnell he basically said yesterday when he got a phone call from the president two nights ago it was the first...

Wogs point. >> he was better teacher than i was a stipt. he remembered my difficulty with anything mathematical. he had a degree from the university of southern california mechanics. he was very high in his class, the class of 56. he was very bright. most people don't understand. he had an iq north of 170. in spite of that bluster and this big giant soldier, there was a very deep, teaming intellect there. he studied history. he was a student of military history. he surrounded himself with bright officers who understood the nature and character of war. this was a great field captain to be sure ...

Anything. republicans are kind of holding their ground at this point and i believe that means there is a deal this weekend, if something happens in the white house today, it will require democrats to either change their stance on taxes and also include a promise of cuts and entitlement reform. otherwise, we really are looking at january 1 and the fiscal cliff happening. in which case a resolution won't happen until the new congress comes into session on january 3rd. gregg: that's right. we've been following not only the events on the floor but people stepping before microphones. here is repres...

Hold on a minute, do not walk off the job. we've got to intervene in this situation. that is seen as unlikely. the president doesn't want to get involved in this. if he did, then the existing contract will be put at a standstill. that would be to the advantage of the employers. not to the advantage of the unions. this is a very pro-union administration. it is therefore unlikely that the president with step in at this point. a strike, as of now, seems very likely, patti ann. patti ann: stu varney, thank you so much. for more on how this strike would affect the economy let's take a look at this....