eric cantor, that's right, eric cantor voted for it. eric cantor voted for a 90% income tax increase. he voted with dennis kucinich. he voted with charlie rangel on a tax rate increase. the thing he is now claiming is the single most destructive thing congress can possibly do, increase taxes. john boehner had been dealing with eric cantor for a while before i got to deal with eric cantor for a few minutes that day. so boehner knew what i just discovered that morning, that cantor was an incompetent amateur who deserved noplace in congressional leadership. cantor has proven himself to be exactly that in the budget negotiations with the president. the president has obviously recognized from the start that a rank amateur was sitting across the table from him, and the president has played cantor's childish reactions to the democrats' full advantage. the next time you hear eric cantor lying about all tax increases being harmful to the economy, and downright evil, always remember this. >> congressman cantor, if you're opposed to these bonuses,

-span moment for one of the lead republicans in the budget negotiations well ok so eric cantor is not just making a little bet it's not like ok he bought gold or silver and he's going to profit if if the u.s. collapses and he's taken an active bet he owns a. trust ultra short twenty year treasury e.t.f. but short ultra short double down betting that the american bond market will collapse because they don't hit the debt ceiling resolution in any reasonable period of time thus he cashes in on the ensuing chaos now this is you hoddy bankers and brokers who are willing to blow themselves up to make a quick buck so go of flashing back to nine eleven eric cantor would be one of those guys who bought airline puts on the airlines right before they crashed into the towers profiting from the deaths on nine eleven that's the kind of financial terrorist eric cantor is proven by him buying double down short government bond e.t.f. and then making sure that the debt ceiling becomes a chaotic situation that's financial terrorism that's trees and you mentioned the martin gal technique and this is you

cantor is putting himself first. he said this. quote, he's all about eric. end of quote. >> cantor, who caused trouble for john boehner, led a rebellion against john boehner, when the speaker returned from the negotiations with the white house over the july 4 weekend with a package of tax revenue increases that boehner was willing to consider. today, cantor desperately tried to tie himself to boehner in an attempt to restore some shred of credibility. >> the speaker and i have consistently been on the same page. and leader reid is i imagine frustrated as we all are, and the fact is we are going to abide by our principles. and that's how it is. and i'm sure the speaker joins me in that. >> so what does boehner do when the guy who tried to stab him in the back reaches out for his help? boehner did what all smart politicians do. you especially do it with a colleague who has tried to stab you in the back in the past. boehner publicly stepped up. >> that's how it is. i'm sure the speaker joins me in that. >> let me just say we have been in this fight together. and

for example, eric cantor. no matter how many times he's been on and how many times we talk about rescinding the bush tax cuts, he calls it a tax increase. go to the grocery store and milk is on sale for $3.25. the next week it goes up to $3.75. it's not a hike in price, it's reverting back to the original price. they don't live in the real world. they just don't. >> he'll be on this morning so you can ask him again. >> we will ask him again. >> i would like to ask him what it is they offered yesterday that was different. the president talked about boehner's question being skewed. i put the question to ourselves, are we skewed? i want to make sure we are being as open minded as possible. i don't see it. >> i had the center on budget run numbers on the debt deals from the '90s. george bush's deal -- we had a good time. >> wow. >> this is what i do on weekends. >> awesome. >> george h.w. bush was two-thirds spending cuts. clinton was a little less than two spending cuts to one in taxes. what obama already put on

and said, quoting the president through eric cantor, the president told him, eric, quote, don't call ing to the american people with this. cantor said that he was quite taken aback by this, at which point the president pushed back from the table and said, i'll see you tomorrow. i asked eric cantor, john, where they go from here because this really sounds like a serious breakdown in communication, very dramatic and very tense moment in this white house meeting. eric cantor says that he expects they'll be back at the white house tomorrow to continue the conversation. but it seems that things didn't make much progress here this evening. john? >> as you know, sometimes confrontation gets everyone to think again, or sometimes confrontation begets more confrontation. we'll try to get the white house perspective as well. breaking news from our congressional correspondent kate bo bolduan. kate, thank you. a dramatic showdown. the president of the united states staring down the republican majority leader of the house, then walking out of the talks in his own white house. dramatic breaking news

i don't think eric cantor will ever be on a unity ticket. in this is he's the bad cop, the one who will fight for the conservative position, which is essentially there's no deal that can be had because they either want a balanced budget amendment, huge cuts, no tax increases, and those are nonstarters with the white house. eric cantor is there to represent that faction of house republicans. it's a big chunk of the republican conference. how big? we don't know yet. but he is the pit bull on those issues and is not going to back down. that puts boehner in here as sort of the good cop. it's clear that john boehner, speaker boehner, thinks you have to do something to increase the debt limit or it could be politically and economically catastrophic for the party. i don't think eric cantor necessarily shares that world view. >> we will be hearing from tim geithner, who is meeting with the democratic senate side today, the caucus lunch. he's going to come out and give the latest on the dire predictions of what is going to happen if they don't get so

eric cantor is the number two guy in the house of representatives. he quit on the talks and on the economy. that tells me everything i need to know about their negotiating. >> it doesn't sound like you are ready to sign on to senator schumer's theory here. >> i'm more interested in outcome than input. what we need is what they go through. we need to reduce debt. the way to do that is decrease spending. democrats are willing to tighten our belts. we have come up with a trillion dollars in cuts. people making over $1 million need to do their fair share and increase revenues. >> have a good fourth of july weekend. we'll see you -- >> big mets-yankees series in new york tonight. >> i'm always rooting for the national league. you have to stick it to the big guys. congressman, thanks. >> thank you. >>> all right joining me now, chief congressional correspondent for the national journal. doesn't want to kick the can down the road. >> right. >> sounded like a guy who, if that's the deal that's cut and there's a temporary deal, right now, that's what smells l

eric cantor told me this week -- >> a great column about eric cantor. if we look at it in five pots here, the white house, senate republicans, senate democrats, house democrats all would reluctantly support the short-term deal. the one who wouldn't, house republicans don't want to vote twice on a debt ceiling. >> they don't want to vote twice. the house republican majority now totals 229 that want this to be the motion of decision. they don't want to have a moment of indecision. they want this to come to a head now with all the implications that come with it. the only way, chuck, i see a short-term agreement passing is if implied in that, written almost in blood that the short-term is all spending cuts no revenues. zero. >> right. >> and you agree preemptively that the second stage of negotiations will include tax reform and the present commits publicly to lower individual rates, lower corporate rates then you take a look at subsidies democrats have been talking about. >> republicans might sign on to that. but we're a long, long way from any kind of dea

we know cantor and the speaker, eric cantor and the speaker were at the white house meeting with the president st night. there's talk now, reports from the "new york times" moments ago of a possible coming together between speaker boehner and the president. what are you being briefed on or what do you know is the state of play? >> good afternoon. basically what the state of play is it's very fluid. we're looking at what the talks between the speaker and the president are, those details have yet to be shared. we also are looking at what would be a plan b. nobody wants to see default. all we want to see is some spending reductions, spending cuts, as we grapple with this issue. so it's a fluid situation. we've got 12 days. cool heads will prevail and we just want to cut spending. >> how do we know tt cool heads will prevail and that the markets won't get freaked? well before the 12 days have expired, and you will start seeing a cascade which as you know can happen instantly if some big player decides to sell off. >> obviously i'm not qualified to speak on behalf of the markets and what

then he added, talking to eric cantor, eric, don't call my bluff. i'm going to the american people with this, end quote. let's go live to dan lothian at the white house. differ accounts of what actually happened. cantor saying the president stormed out of the meeting. the white house saying something else. nobody disagreeing there was a whole lot of tension to end that meeting yesterday. >> oh, boy. just a whole lot of tension in that meeting yesterday. as you pointed out. there's always two sides to every story, democrats, white house in particular saying the president did not storm out of that meting. instead he became agitated because he believes that republicans are using the talks for political gain. but the confrontation happened, according to democratic sources inside that meeting when, as you pointed out that cantor started arguing for this series of short-term deals. this is essentially backing off of what he had previously agreed to or talked about. and the president said according to the officials that what is going on inside of that room

he's been able to rehearse these with the eric cantor walkout. he did twice refer to john boehner in his statement today, in his press conference this evening, as walking out. his mission tonight clearly in that room was to put the pressure on the republicans for having walked out. he's trying to make them appear to be the irresponsible party here. >> that's right. he's putting the pressure squarely on their shoulders as we have been reporting, he has called congressional leaders of both parties back to the white house tomorrow at 11:00. and to continue to put that pressure on, lawrence, he discussed the fact that look, the markets are watching this. earlier this week we saw the markets respond favorably when there was news of a possible deal, so there's concern of what's going to happen on monday. president obama addressed the issue, they need to get something done, they need to get something done soon. again, you heard the president talk about this grand bargain all along. tonight it seems there's little hope for a grand bargain. the president,

implicate republicans in these efforts. >> democrats singled out the number two house republican eric cantoring him, quote, childish. of. >> leader cantor has yet to make a constructive contribution to these discussions. more than anything else, he is holding up an agreement at this point. >> meantime, top republican leaders sought to present a unified front thursday amid talk of a rift between cantor and house speaker john boehner, leading to one of the lighter moments of these negotiations. >> let me just say we have been in this fight together, and any suggestion that the role that eric has played in those meetings has been anything less than helpful is just wrong. >> and as the heatings continue at the white house, it could be, if there's a light at the end of the tunnel, it's on capitol hill. mitch mcconnell and harry reid might be trying to work something out. >> we're going to have to look at other alternatives and his is one of them. >> now, it is a complex plan that would allow the president to raise the debt ceiling, but also allow congress to disapprove of him doing so, to vote ag

. >> rupert murdoch, john boehner, eric cantor in charge when it's convenient. >> back here in the states, cue the blame game. >> virtually no americans hold congress in high esteem. >> we, as republicans, as the new majority in this house. >> failing on the big things is something they choose to do. >> we emplore the other side to get serious. >> when is the house going to stop the charade? >> the gang of six is still trying to lead. >> it's a far cry from the paul ryan budget. >> we thought this was the gang of six, dead and buried. >> now the gang of six is a gang of seven. >> two parts, there's always a second act. >> gotten rave reviews from a lot of folks. frlgs colleagues really liked it. >> when does somebody have to say uncle? >> murdoch is also not taking the blame. >> insisting that he is not to blame. >> london calling. >> tried to pass the buck today. >> just doesn't really stack up. >> the 80-year-old also appeared confused. >> he said yes, i'm in charge of this company. >> somebody jumped over to, i believe, get to rupert murdoch. >> somebody with a pie, wendi murdoch leape

our leadership in the republican conference -- speaker john boehner and leader eric cantor have beeny clear about not raising taxes. >> are they selling a plan that includes elements that people might not like? many folks were disappointed with the outcome. >> this is a much bigger issue for the country. frankly, members understand that politically speaking, this is a bigger issue as well. we have been very encouraged by what both speaker john boehner and leader eric cantor have been saying regarding the tax issue. speaker john boehner gave a speech eight weeks ago now from wall street where he talked about having big cuts as to move forward. the cut park and the cap part is good. as i have indicated, to support this issue, the fundamental game changer is the balanced budget. i think it is important that speaker john boehner and majority leader eric cantor can talk about the changes. >> is there any where you were willing to compromise? >> we are on the side of the american people. if you ask the american people if we should cut spending, many people would say yes. does it make sense

the house republican leader, republican eric cantor, who chip just mentioned, has been a congressman from virginia since 2001. he's a favorite of tea party activists. nancy cordes tells us that now that cantor is at the center of the budget crisis, he's become a lightning rod. >> good afternoon. >> reporter: in washington, where the blame is a blood sport, democrats have found their fall guy. >> leader cantor has yet to make a constructive contribution to these discussions. >> reporter: senate majority leader harry reid called cantor "childish." >> house majority leader eric cantor has shown he shouldn't even be at the table. >> reporter: the ambitious six- term congressman has given his opponents plenty of ammunition. >> we're not going there. >> reporter: he blew up the original debt negotiations led by vice president biden when talk turned to tax increases, then pulled speaker boehner back from a grand bargain with the president because taxes were part of the deal. >> i cannot fathom how anybody, how anyone thinks right now is a good time to raise taxes. >> reporter: his hard-line

but what eric cantor says is right.n't raise taxes right now. >> but is anybody talking about raising taxes right now? >> well, today's news, today's employment rate going up, makes it more and more difficult for democrats already in a difficult spot in wanting to raise taxes, even more difficult -- you mentioned "live home in indiana, you talk to job creators there. there's so much uncertainty in the process right now and they are not going to hire until they know what's going on. and when they have democrats continually talking about raising taxes they're not going to put money down -- >> so you walk away -- you let the president politically, though, you let the president be the guy who says, i wanted a $4 trillion deal, eric cantor wanted $2.5 million. you want that? >> you have to work that out. >> is that good for your party? >> at the end of the day, what's best for the american people and our economy is to not raise taxes when we're trying to create jobs. >> chuck, couple of things here. i think if you talk to ho

we're showing some footage right there of eric cantor, now the president. peaker boehner in if all of this? >> well, publicly he and cantor say that there's no daylight between them, but clearly the speaker has let eric cantor do the majority of talking in these white house negotiations. he's been a little bit more vocal to reporters and on tv. so, you know, we, we know that there's been tensions between them. we know that eric cantor objected to the speaker's efforts to strike a grand bargain with the president a couple of weeks ago. right now publicly they're on the same page, but the democrats are trying as hard as they can to exploit, you know, what are clearly some tensions between these two leaders. heather: all right. let's boil down these numbers for folks at home once again. we've reached the $14.3 trillion limit back in may. we have until august 2nd to extend that, um, and apparently to extend it to 2012, to last through 2012. it must be raised by $2.4 trillion. the problem is republicans won't agree to doing that unless the obama administration ag

we all know obama has that big megaphone, but is it eric cantor or john boehner, eric cantor or mitch his own ideas for a short-term fix? >> right before one of these big white house meetings you had the ultimate absurdity, eric cantor holding a press conference off camera, pen and pad, and half an hour later john boehner holding a press conference, both by themselves, not with each other, then immediately from there they wept to the white house. it's like exactly who is your voice of the republican party? it's very confusing. great for politico. >> right. god bless them. politico loves it so much. >> you don't want it to end. >> we want what's best for the nation, howie, but this is a good story. >> not necessarily what's best for politico. >> we are not at cross-purposes for america. we are not. >> i think we can agree with all this going on behind closed doors it's a very complicated but important negotiation going on. thanks for stopping by this morning. still to come, a white house aide calls a fox anchor a lunatic. an author catches the president stretching the truth about his m

as to what's happening on capitol hill this morning, it was really hunting season on eric cantor, the house majority leader, who has been in very shall we say terse negotiations with president obama. take a listen to what harry reid said on the senate floor today. >> house majority leader eric cantor has shown he shouldn't even be at the table. the time for personal gain and political posturing are over. it's time to put our economy and our country first. >> republicans will not be reduced to being the tax collectors for the obama economy. >> reporter: the question now becomes what exactly is a way forward. i spoke to one gop aide before i came over here, said picking on eric cantor, definitely not fruitful, it will not help these negotiations. they are trying to figure out a way in which they can actually cut spending in order to exchange for raising the debt limit. we have heard reports of numbers, $1.5 trillion in cuts, but president obama insisted there must be some sort of revenue, i.e., tax increasin this type of plan. there are some folks on the republican side that maybe we ca

you have cantor's version of this, but there is no love loss between eric cantor and this president, and many people are asking if he is hurting the debt talks? >> well, the white house said not only is eric cantor's account of what happened at the conclusion of that meeting, and let's remind people that according to eric cantor the majority leaders of the house of republicans, the president bushed back from the scene you described and said, ronald reagan never had to go through this, enough is enough. i will take this to the american people, eric, meaning that he would go to the people, and have a referendum and continue to take this dispute public. very interesting today that jay carney called that a preposterous suggestion. that president obama stormed out of that meeting, but there you are the perception none the less, and of course, republicans are eager to knock down the notion that the president has put forward, and a lot of people are willing to buy he is undergoing some political pain here in the name of compromise to defy democrats in the cutting of entitlements and social

every time eric cantor stamps his foot, his neck snaps back. that you sacrificed yourself, but this has got to be done in a way to get large numbers of people on both sides. we don't need to deal with the tax issue now because, as i think my colleague garamendi was saying, the tax cuts are going to expire. i'm willing to fight another day on those. prejudice our right to keep those tax cuts from the very wealthy expiring. we have a tax cut that includes getting out of afghanistan and iraq, you oppose the high-end tax cuts and leave social security and medicare alone. one thing that bothers me, they talk about shared sacrifice. i don't think it's shared sacrifice saying somebody making $700,000 a year has to pay a few thousand more taxes, but a 90-year-old woman has to get tax increases. she shouldn't be a part of it. if they leave open the tax question we can accept, i'll accept and vote for more severe reductions in housing and education and the environment i would ideally like. that's a deal that is not fun for anybody. responsible people can

house republicans called for a short-term extension and house majority leader eric cantor says this is what the president said in response. quote, don't call my bluff, eric. and then he walked out a few minutes later. president obama said all along he'd veto any short-term measure. ed administration says failure to raise the $14.3 trillion debt ceiling by august 2nd could trigger a partial default on the part of the united states. thanks to that debt ceiling issue and the possibility of default you're on notice. i'm on notice. everyone from maine to san diego is on in. moody's investor services, the debt rating agency plans to review the nation's aaa bond rating and might downgrade it from stable to negative. standard & poors has the u.s. bond rating under review. let's talk about foreclosures for a second. realty track, the company that tracks the foreclosures, their numbers show foreclosures are down nearly 30% to compared to a year ago. that sounds like good news but it comes with a big fat asterisk. realty track says many are being delayed. many foreclosures that should happen this

and more david is unwilling to set a new area perhaps it was a little and then say to democrats eric cantor was sitting in that in that negotiating room a week or so ago and the democrats said let's take the accelerated depreciation of corporate jets it's seven years for all commercial jets right for us airways united they have to depreciate their planes over seven years however if you've got a private jet like general electric has or or or exxon mobil has or whatever you can appreciate it in five years instead of instead of seven years it was a little sweetener that was given to them some time back and so the democrats said why don't we take that appreciation back to seven years we'll save a few billion dollars a year at that point eric cantor gets up walks out of the room say here are going to hear that you're going to cut the tax deduction the accelerator depreciated for corporate jets we can't have that these guys have got to be able to eat their corporate jets with their gold silver plated silverware while their flight across the country without having to go through the t.s.a. . the re

caucus but he always is having to look over his shoulder at house majority leader eric cantor who's his number two. because eric cantor is really holding the line on the far right conservative wing and any time that speaker boehner is trying to compromise what politicians are supposed to be doing in reaching a deal with the president there's eric cantor lying in the wings ready to you know potentially snatch control of the caucus if he thinks that john boehner is going too far this is an old trick sky i mean in one nine hundred thirty two f.d.r. ran on a campaign of balanced budgets he didn't do that thirty three. for the while the budget and so in thirty six he ran on a campaign of balanced budgets again as the republicans were all over him about that and he actually in thirty seven when he became president cut spending and produced another mini recession i mean depression the good the great depression the period from thirty two to thirty six was the great strongest period of economic growth arguably in the nation's history and he blew it by going along with the republicans jimmy carte

i think eric cantor knows that nobody is talking about raising taxes. we are talking about getting rid of these subsidies, closing the loopholes and, really, having an effective tax rate. they keep talking about a 35% corporate rate, when we all know it's somewhere between 16% and 19% in terms of effectiveness because of all of these loopholes. if people were paying what the rate is, i don't mind dropping it to 25%, 26%, just collect that much and get rid of the loopholes. >> okay. congressman james clyburn, one of the house leadership. thanks so much for joining us. >>> pulitzer prize winning columnist, eugene, look at these leaders. you're on msnbc and now it's time to analyze. this is "hardball." look at people acting now a big deal coming up perhaps sunday. going back again with the president. take a look at -- hold those pictures up there. i'd like gene to go through these names. the president wants a deal. right? >> yes. the president wants a deal, yes. >> and he's going to make concessions on the left with things like -- >> willing to make conces

take that appreciation back to seven years we'll save a few billion dollars a year at that point eric cantor gets up and walks out of the room say here are going to hear that you're going to cut the tax deduction on the accelerator depreciated for corporate jets we can't abear up these guys have got to be able to you know eat their corporate jets with their gold plated silverware while they're right across the country without having to go through the t.s.a. . tom de seduction and that's appreciation should be contingent upon any reasonable standard it wouldn't matter if it was for miles flown it just has to be a consistent way for the company and so we always eat here because of the new one thing i mean that's to to say that the general electric has to write off its jets at the same speed as united airlines that seems reasonable to me that's not reasonable to republicans name one thing that the republicans are willing to do where their billionaire millionaire and back at corporate buddies are going to lose even one penny please one thing. i have and that's fiscal responsibility on the part o

you know, the big point of contention yesterday was with house majority leader eric cantor pushing for this short-term deal or a series of short-term deals. the president, according to democratic sources familiar with the talks, made it clear that that is something he does not support and something he would veto. the president has, for the last few days, and certainly weeks as well, been pushing for the biggest deal possible where it it seemed to get some support. of late, it has not. the president believing if you start talking about the short-term deals, you run into the political season where you negotiate the things all over again. if you can't get this done now, how will you get this done in the thick of the political season? tense discussions yesterday. the president agitated and believing that republicans are using the debt talks to make political points. the president making the point, according to those inside the meeting, that this kind of atmosphere just confirms some of the worst fears that americans have about the way washington works. >> well, yeah. the way washington wor

right now eric cantor represents the two-party conservative waming.. and he's trying to embarrass not only the president but john bonner this is a self-serving exercise and he is derailing the mainstream republicans and they can't get their act together ... as soon as an agreement is reached by the deadline people will be asking lots of questions about jobs ... >>there has not been a jobs bill passed since the 2010 elections ... president obama wants to get this fixed but there is not a connection right now with this debt ceiling discussion ... this is all about 2012. the election is really under way ... prior to that dismal jobs report on friday we were hearing a buzz that there were getting things together and and the report came out and the republicans said wait just a minute ... the tejon changed that fridayone changedtright there.. in order to get things passed and time have to come to terms by the 20th ... there's a difference with shutting the government down and this case putting the full facing credit of the united states on-line this is too h

. >> no, we're all behind the speaker and leader eric cantor. and they've done a great job. but i think trey also nailed it, we want to make sure we never get here again. i want to support something that makes sure we never get here again and last week a lot of us rank-and-file republicans believed we voted for something that would do that, cut, cap and balance, and it would be something the american people support, and, you know, that's something that i wish we'd, again, send back to the senate. >> i under thastand that, but w now at a point, though, where we're having a fifth grade syncs lesson. you control the house of representatives. the democrats control the other side of capitol hill on the senate side. you have a democratic president a mile or so down the road. is your position, no, you won't budge and compromise and go their way, even if -- even if -- we get to august 2nd and the country goes into default? >> i would argue to you that many of us have already compromised, we've already voted twice to raise the debt ceiling. it was implicit in paul ryan's budget. it w

breakthroughs, but the way it's been described to me is that they essentially turned the floor over to eric cantor, the leader in the house of representatives, who worked out so many of these details with vice president biden before speaker boehner and the

go it's official last week debt ceiling negotiations broke down with house majority leader eric cantor threw a fit about closing the tax loophole for corporate jet owners over this week it was revealed that cantor may have ulterior motives in sabotaging the debt ceiling negotiations just as a hundred of millionaires and billionaires according to his financial statements this year he had her has a fifteen thousand dollar short on the dollar in other words a fifteen thousand dollars bet that the u.s. dollar value will plummet and there's no better way to cause the guy. to lose value than to ensure that america defaults on its debts are the reason why republicans may have no interest whatsoever in raising the debt ceiling was put forward by senate senator chuck schumer this week says what he had to say in hearing yesterday . and it leaves you don't we one conclusion which my colleagues have alluded to which is they want the country to be in his bad shape as possible because that might help them with really all this sort of like a new fever has taken over the other side that the best way t