hard to believe he has both tim geithner and john boehner.rom the looks of it, john boehner does seem to be flabbergasted. we'll get to that shortly. >> eric: that is on "fox news sunday." later today, exclusive interview with speaker boehner. sunday at 2:00 p.m. and 6:00 p.m. right here on the fox news channel. >> jamie: well, there is a push by the senate republican leader mitch mcconnell as well to put medicare and social security on the table to try and the budget crisis we're talking about. mcconnell telling the "wall street journal" that those are the kind of things that would get republicans interested in new revenue. maybe bipartisan. john fund, a columnist for the "national review magazine." good morning. >> good morning. >> jamie: great to have you here this morning. >> thanks. >> jamie: we have less than a month left as we have been talking about went're now in december for the fiscal cliff. what truly is on the table where both democrats and republicans are concerned? do you see anything they agree on? >> we have four weeks to go

>> there are spending cuts in tim geithner's plan.t is got spending. >> what spending cuts. >> 600 billion in health care spending cuts. >> gretchen: they were already there. >> they are in the plan. >> gretchen: there is nothing new for spending cuts. that's my point. >> where is the compromise. >> republicans are digging their thels in and say we don't want revenue increases and republicans, fred barnes and bill kristol saying we are looking libe we are defending the wealthiest. >> gretchen: they are also saying if the republicans give on that democratics have to give on the entitlement spending. this is a very fiery debate. you can see what is going on behind closed doors. >> appreciate it >> gretchen: next on the run down how to make your relationship work. right here in your notes . one californian come make your baby american by gives birth in a hotel. happy birthday to ozzie osborn who is 64. ♪ [ dylan ] this is one way to keep your underwear clean. this is another! ta-daa! try charmin ultra strong. it cleans so well and you ca

this problem in order to do that you know what you're going to have to pay your way into here tim geithner of all people they're supposed to be advising this president of how to get us out of this mess to hear tim geithner says no i don't want you to tax my friends on wall street is absurd it's shameful but but somebody has to have courage to come forward with that organ wall and not only that a step tax would also throw a little sand in the gears for this automated trading that has put the whole system at risk is so unstable. that it's a very very important thing thanks for bringing that might happen tonio brilliant as always thank you for being with us tonight thank you joe. just. the. is the good the bad and the very is supercop cain is slightly ugly the good michael for forbes is a scottish farmer who despite being bullied and called names by donald trump refused to sell him his farm and land for construction of a new golf course despite being called a variety of names by trump forbes never gave in and his refusal to sell was actually documented in the scottish film as a result forbes

>>> plus, secretary tim geithner with us exclusively. will the white house let our economy go over the fiscal cliff if a deal on higher tax rates for the wealthy is not reached? we're checking it out. back in a moment. [ male announcer ] research suggests cell health plays a key role throughout our lives. one a day men's 50+ is a complete multivitamin designed for men's health concerns as we age. it has 7 antioxidants to support cell health. one a day men's 50+. it's easy to follow the progress you're making toward all your financial goals. a quick glance, and you can see if you're on track. when the conversation turns to knowing where you stand, turn to us. wells fargo advisors. >>> welcome back. this very public negotiation on the fiscal cliff still does not seem to be closing in on a deal. the white house out in campaign style events regularly, making multiple media appearances, kle including timothy geithner right here in 25 minutes. >> but would things be done faster if it was done privately? in his latest column, jeff goldfor a com

. >>> tim geithner gets tough during the sunday morning talk show. he has drawn a hard line saying the obama administration will refuse any fiscal cliff deep that does not include a tax hike on the richest americans. geithner remains optimistic despite harsh words from republicans. >> reporter: with the clock ticking in washington and the fiscal cliff moving closer every day, tim geithner said they will only approve a plan with tax rates. >> if they are going to force higher rates on virtually all americans, because they are unwilling to let tax rates go up on 2% of americans, then that's the choice they're going to have to make. >> reporter: geithner presented his plan to republicans, calling for $1.6 trillion in revenue and cuts in stimulus spending. he suggested the bush era tax cuts must expire for the wealthiest americans. >> we put forward a very comprehensive, carefully designed mix of savings and tax reforms to help us put us back on a path to stabilizing our debt and living within our means. >> reporter: republicans did not welcome the propo

there is a lot to talk about, including a new warning from treasury secretary tim geithner. he is now telling congress that the u.s. government will reach its borrowing limit by next monday, the 31st. remember how much fun the last debt ceiling fight was? well, that news comes as president obama rushes home to washington, cutting short his hawaiian vacation in order to resume talks on the fiscal cliff. there are just five days remaining to strike a deal. we'll get to all that in a moment, but first, we begin with a massive winter storm that made holiday travel miserable for millions of americans, including me! winter storm euclid -- what, are we naming snowstorms now? euclid. you can lid? well, euclid blanketed much of the eastern half of the country yesterday, dropping blizzard-like conditions and record snowfall in the midwest, and by late afternoon, euclid moved northeast, bringing traffic to a standstill, forcing the cancellation of more than 1,500 flights on one of the busiest travel days of the year. the weather channel's mike seidel has more on the massive christmas s

. >> but i do think it's -- >> although tim geithner would disagree with me. >> one side wants to keep the government and entitlements like we have it. and the other side wants to take away all the excess government -- >> i think both sides agree that you need to do both. just a question of how much. >> we need to do both to do a deal. i don't think both sides dwre that it's the right thing to do. just to get a deal done. >> i think moderates in both parties -- >> people on the right think we're plenty big. and there are other people on the left that would like to do more social -- even grow government and pay for it up to 70%. so there are people. >> all right. when we come back, we'll talk about why manufacturing optimism is falling and falling fast. but first, gangnam style is on its way to racking up 1 billion views on youtube. with one song, this 34-year-old is set to become a millionaire and the dance is so popular that even alan simpson is doing it. yeah. that alan simpson. twins. i didn't see them coming. i have obligations. cute obligations, but obligations. i need to rethink

you'll hear from boehner in a few minutes, but first here's my conversation with tim geithner about thek of progress in steering away from that cliff. >> chris: secretary geithner, welcome back to fox news sunday. >> nice to see you, chris. >> chris: i spoke with house speaker boehner just before i came over here and he says when you present your plan to him on thursday, he said you can't be serious, and, mitch mcconnell, the senate republican leader said he burst into laughter. >> they are in a tough position now and it will be -- obviously hard for them now and they are trying to figure out where they go next and we might need to give them time to figure that out, but what we did is, what you expect from us, we laid out a very detailed, carefully designed set of spending, and t protect taxes, taxes from going up, for 98% of americans and investments for infrastructure and we think that is a good set of proposals and if they have different suctions and want to go further, they should lay it out to us. >> chris: when you say, they are in a hard spot, what do you mean. >> because they ar

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 years. twice as much as he has been asking for in public. he had stimulus spending in here that exceeded the amount of new cuts he was willing to consider. it was not a serious offer. >> reporter: secretary geithner says the white house $4 trillion plan has 2 to 1 ratio of cuts to spending increases. but everything we heard from speaker boehner suggests the $1.6 trillion in new revenue the white house wants is too much. especially since boehner does not want to increase tax rate at all. he wants the revenue from the closed looph

plus, treasury secretary tim geithner says the obama administration is, quote, absolutely ready to go over the cliff if republicans refuse to raise taxes on the rich. do you support that decision? it is our gut check. first, in today's money minute, here's a look at the markets. ♪ ♪ mom? dad? guys? [ engine turns over ] [ engine revs ] ♪ he'll be fine. [ male announcer ] more people are leaving bmw, mercedes and lexus for audi than ever before. take advantage of exceptional values during the season of audi event. ♪ you make me happy when skies are gray ♪ [ female announcer ] you know exactly what it takes to make them feel better. ♪ you make me happy [ female announcer ] that's why you choose children's tylenol. the same brand your mom trusted for you when you were young. ♪ how much i love you [ humming ] [ female announcer ] children's tylenol, the #1 brand of pain and fever relief recommended by pediatricians and used by moms decade after decade. [ humming ] plays a key role throughout our lives. one a day women's 50+ is a complete multivitamin designed for women's health concerns a

the offer that tim geithner brought was an awful one.ants a new credit card without a limit. the senate hasn't passed a bucket in almost four years. >> if we hit the debt ceiling at the end of the month, it will go into effect about february because there's some money games we can do to pay our debt until then, to manage to get by. in february when we're totally out of money and all the americans who filed for their tax returns wanting their money, they want their refund and we don't have any cash, we'll see how happy the american people are. >> the american people are right to be very concerned. >> engaged. >> maybe good at campaigning, but he's not very good at leading. >> thank you, senator. >>> coming up, there's very disturbing news tonight out of egypt. we'll have the latest and ambassador john bolton is here. they say no good deed goes unpunished. one worker learned that the hard way. he risked his own life to save his boss. you'll hear what he got for his troubles. hit wasn't a raise. two years ago, the people of bp made a commit

first my conversation with tim geithner about the lack of progress in steering away from the cliff. >> secretary geithner, welcome back to fox news sunday. >> nice to see you, chris. >> i spoke with house speaker boehner before you came over here. he said when you presented your plan to him on thursday he said, "you can't be serious" and mitch mcconnell, the republican leader, said he burst into laughter. >> chris, they are in kind of a tough position now. it's obviously a little hard for them now and they are trying to figure out where they go next. we might need to give them a little bit of time to figure out where they go next. but what we did, we laid out a very detailed, carefully-designed set of spending, savings and tax changes to help put us back on a path of fiscal responsibility, to prevent taxes from going up for 98% of investments and provide some investment for things we need liken fraught structure. we think that's what is good for the economy. if they have different suggestions and want to go further in some areas, they should lay it out to us. >> you say they are in a

that's what tim geithner was doing. is he ready to take the country into recession, no. but he's saying, go on, make me. that's a very strong negotiating position. you know what? it will actually work for them because, a, they have got the political wind behind them, as luke says, not only do they have confidence in their ranks but they have won a general election on this platform, taxes need to go up for the very wealthy. so if you prepare to dpoeshiate hard, you prepared in theory to go over the cliff, the other side is in some disarray, you're going to get a deal. and the question is what other elements of the deal -- luke is right -- what other elements of the deal are in there? it's not a unilateral disarmament on all debt ceiling raises but the next debt ceiling raise has got to be in there, some element of unemployment in exchange for whatever horse trading they get. is it the upper 8, is it 39.5? >> 37%? >> 250,000, that's what congress does. it's horrible. it's a sausage making machine. you don't want to know what's in the sausage but the president has a strong

but tim geithner just told cnbc that we're going to go over the cliff unless tax rates go up. at the same time, two dozen republican house members signed a bipartisan letter with democrats defecting from the boehner plan. in the meantime, a nice game for the day for the dow, but a stunning selloff for apple. do you know what? fiscal cliff or not, the s&p 500 is up 12% year to date. that is a handsome gain for investors, an optimistic year, believe it or not. and we already bailed out detroit's auto industry. but now, at least one motown politician is telling president obama he should bail out detroit bankrupt city government, too. this sure isn't the free market, and i asked why should a texas taxpayer bail out detroit? >>> breaking news from syria, and it is a blockbuster. the assad regime is walking and loading its chemical weapons, ready to use them on its own people. nbc's chief pentagon correspondent joins us now. jim, is this the red line president obama was warning about? >> well, not quite yet. u.s. officials tell us that the syrian military is poised to use chemical w

tim geithner changed the plan last week. that plan calls for 1.6 trillion of higher taxes over the next decade $50 billion stimulus package and provide 600 billion in spending cuts. he is waiting for root pe kaub cans to respond to the plan for the president's proposal. >> we think that's a good set of proposals and good for the economy. if they have different suggestions they should slay it out to us. >> republican leaders should make the deeper cuts on medicare, medicaid and social security. as for raising taxes on the wealthy, republicans want a great higher revenue for closing loopholes and limiting deductions not a tax hike. they are not pleased with the president's proposal. >>> i was flabber fasted. i looked at them said you can't be serious. i have never seen anything like it. >> three of the weeks have been wasted. >> tim geithner agrees time is of the essence. he fires back at boehner saying there's no reason they should fall off the fiscal cliff adding the only reason why it would happen is if a group of members o

one other factor to consider here is something we just heard from the treasury secretary tim geithnerling us we are rapidly approaching the nation's debt ceiling. we could hit it by the end of the year. there are accounting tricks we can use to prevent us from hitting that by the end of the month. it shows you how complicated this is getting. one other factor that was going to become part of the grand bargain if we ever reach grand bargain. right now they could be looking for a stopgap measure. >> we have heard that before a stopgap measure. thank you very much. appreciate it. >>> you hear those two key words there accounting gimmicks. let's talk about stories you can bank on this morning. lauren simonetti from the fox business network has more on the accounting gimmicks and the statement about the debt ceiling. the treasury is taking steps to change things? what are they doing and how does it affect us. >> they are kicking the can down the road. no sham toast for the treasury department. that is the day the u.s. government is estimated to hit $16.4 trilli $16.4 trillion borrowing lim

tim geithner was on cnbc yesterday and asked whether or not the federal government is preparing to gohe fiscal cliff in particular this administration. he answered unfortunately in the affirmative. here's tim. >> if republicans do not agree to that is the administration prepared to go over the fiscal cliff. >> we face no prospect of agreement that doesn't involve the rates going up on the top two percent. >> brian: he also said he believes that the president needs to get control of the debt limit. that is a nonstarter. there is no way to get congress to give up control of debt limit. >> steve: republicans are saying let's cave and surrender on the tax issue. but coming up in 2013 we have leverage over the debt limit. remember the president of the united states his personal approval ratings went in the toilet. >> brian: as is the congress. >> steve: the congress didn't have as far to because they were close to the floor anyway. republicans say let's have leverage next time and the president said let's take that off of the table and from now on the president doesn't have to negotiate fr

we're heard now treasury secretary tim geithner has joined that gathering. want to have eamon javers step back in here and give us an update. >> reporter: hi, bill. treasury secretary tim geithner is in this meeting that's going on here at the white house right now. what that would indicate to me, anyway, they will be talking a little bit about this debt ceiling situation as well as all the other different cats and dogs that have been rumored to be in this small deal and treasury secretary geithner's participation gives you a little bit of an expectation that they will get to some level of detail. he brings in expertise that would otherwise maybe not be in the room in terms of the fiscal and tax picture here overall, so that is an interesting development, so now we know of at least one other administration official. vice president biden is in the room as well as well as the four key congressional leaders and the president himself, of course. >> eamon, thank you. we'll be checking back as developments warrant. >> i think we're getting a news alert with s&p an

this is, first, does nine find it strange that tim geithner delivered the proposal? in charge of the i.r.s. and people paying taxes. >> dana: except for himself. >> eric: but he is in charge of the policy and the delivery and not negotiating. hold on. here is what it is. president obama saying i will ignore all of your requests. they are all mine on the table. you supposed to come back, the republicans and be, bring something to the negotiating table. it's ridiculous. >> eric: this is a negotiating point. >> bob: i want to know the increase in the upper tax rate bothers you so much. >> dana: it's bad policy. >> it is political revenge. pays for 8.5 days for government spending. you don't get anything except for lower productivity of people you ask to create more jobs. that is why. >> he can final it in his base. that is why he is proposing more spending. >> brian: incredible. to see him campaign with tinker toys and angry birds makes us think it's another 4-1/2 years instead of rolling up the sleeves and get the deal done. he goes to pennsylvania -- >> andrea: a smal

continu he could be picked to replace tim geithner. white house chief of staff jack lieu still considered the leading contender. wall street doesn't like him as much as they might like one of their own. he is a long time obama supporter. member of the president's council on jobs. he has been a real business guy. >> interesting. this race not over. general motors in really a strong competition right now with the other american auto makers for pickup sales. >> that's right. about 15 billion the government owns there. gm trying to send this pickup truck line by offering discounts right now. the auto maker matching or beating discounts offered by ford or cliers. knocking up to 9,000 dollars off of a price tag of the 2012 model 4500 off of the 2013 model. in the coming months gm is planning to temporarily close the truck plants in ohio and kansas cut down on supply. it's not selling enough. >> those pickups come in hand tee de to put the christmas tree in the back and drive it home. >>> 17 after the hour. holidays can be tough to get throug

david: tim geithner is on his own until the first of the year. >> yes. david: appreciate it.: a look at the s&p futures including going back to the cme group. mark. >> looks like we gave away another $1.50 after close. i cannot imagine a good reason to carry a long position overnight. there is so much risk from the government. one of the things we need from the government is to get out of the way and allow the economy to work and allow the market to work and until that happens expect the slow drip to happen and we will have zero ability to break away from the 50 day moving average we have been hovering around. david: what a novel time for that. shibani: we will put that together, thank you. david: is the president being told by his own economic advisors we're going to go into recession if it doesn't make a deal with republicans? we'll ask a former chief of staff on president bush economic advisors. see if she thinks the president is flirting with recession. shibani: a problem over at amazon knocking out popular online services including netflix causing families to actually ta

treasury secretary tim geithner says the president's offer is unwavering.re going to let tax rates go up for top earners and republicans will have to work with that reality. >> there is no responsible way we can govern this country with those low rates in place for future generations. those rates are going to have to go up. >> house speaker john boehner appears to be struggling now that the president and democrats are negotiating for a position of power. talking points memo points out republicans are used to getting 70% to 75% of what they ask for in these types of negotiations but now speaker boehner is going on and on about how he's shocked and amazed at president's plan and is refusing to offer a counter plan on the republican side. you want to talk about this or anything else, join us online at current.com/stephaniemiller. we'll see you with more after the break. kind of guys who do like reverse mortgage commercials? those types are coming on to me all of the time now. >> she gets the comedians laughing... >> that's hilarious! >> ...and the thinkers, th

we understand, also, tim geithner, as we see on the graphic there, will be a part of the discussions,nd, also, s&p saying, by the way, that the fiscal cliff will not impact the u.s. credit rating, the sovereign rating, as you can see right there. some breaking news for you out of washington. this meeting scheduled somewhere between 3 p.m. and 4 p.m. this afternoon. if it goes longer, we'll wait and see whether they come out of the meeting, at least they are meeting. that's what we can is say. power mover of the day, barnes & noble as we said spreading cheer with the stock jumping up 5%, making it the power mover as you see. barnes & noble landing financing. peerson with a 5 #% stake in the digital business. blow the one year chart up a little bit so you can see the stock moving up today. it's been a rough road, clearly for barnes & noble, nook media, part of the barnes & noble area investing in, worth about $89 # million. they are the digital business including the nook e-reader, the tablets, and the investment putting barnes & noble's fundamentals on the table for a day. it's been a

tim geithner recently said that.he treasury department will take some extraordinary measures to extend that. that will last about two months. we have a little bit of win room. -- wiggle room. there will be a new congress in place. some of the faces will change, but it will be ongoing and probably something that is dated from mid january to mid february as they look to cut a deal around raising the debt ceiling. host: nancy cook is the national journal's budget and tax director. , for joining us. we're taking your calls on the your message to congress as we near this fiscal cliff the line. if go to indiana on the democratic line. jay is waiting. caller: good morning. and, for taking my call. -- thank you for taking my call. i feel like our americans are politicians bosses. the government gets the money from us. i do not see how they have the right to sit there and play politics with each other and try to make decisions that are going to just benefit them. maybe a small part of the population. this is the united states

i don't know exactly what the game that tim geithner was playing yesterday. not only, and thank you, erin, for getting some of this math right. the president said 2.5 for every tax increase and yesterday he came up with $4 of new taxes for every dollar of spending cuts. that's when john boehner simply said we're nowhere. >> ethan, don't the republicans if they want to break this stalemate, maybe what the president's doing is saying these are the cuts i want to make, so guys, why don't you come up with the rest? >> i don't think that's really a fair criticism. republicans have passed the budget that paul ryan put together. now, you may not agree with that budget, but it does outline specific cuts. republicans are on the record for those and would probably say here's our list of cuts, mr. president. where's your list? >> the president has other things he may not have included. ethan, so the republicans say fine, take it from paul ryan's budget. but don't they owe him a list? >> they do. and they haven't really provided one. there's a great article in politico y

tim geithner in the middle of those talks so we don't expect that move. the defense department, leon panetta likely to step down. chuck hagel has been the leading contender we're told but now is running into interference from groups, including chuck schumer, who is expressing concern and former republican senator is the right guy. this is playing out like the susan rice situation, the u.n. embassador who never got nominated but there was criticism to the president pulled it back. john kerry getting that nomination. there's frustration among the president's supporters that he's leaving names out and not moving ahead but the fiscal cliff negotiations are dominating his time. >> the fiscal cliff and diamond head in the background and waikiki beach. ed, safe trip home. >>> joining us, from u.s. news and world report, ken walsh. who is going to come to the rescue, anybody? >> looks like there's a road block at every critical juncture point here. it looks like now the ball's in the senate's court, to mix met force. the house failed to get to a vote with speaker

. >>> treasury secretary tim geithner is adding to the pressure saying the treasury may not be able to pay its bill on monday. that could lead to a credit downgrade. in his letter, geithner proposes a series of measures to postpone the date. geithner indicates his plan would free up about $2 who billion. >>> we now have an update on the health of president george h.w. bush who remains in a houston hospital. nbc news has learned his stubborn fever has gotten worse and he was admitted to the intensive care unit on sunday. doctors have him on a liquid-only diet. he's surrounded by family. mr. bush who is 88 years old has been hospitalized with bronchitis since just after thanksgiving. >>> now, for a look at your national weather here once again is nbc meteorologist dylan dreyer. >> well, it's been busy across the northeast, especially the whole eastern third of the country really for this holiday. we are going to see the chance of more snow falling across northern portions of new england, as this continue continues to move off to the north and the east. we are looking at an additional sev

in a letter to congress treasury secretary tim geithner said the u.s.trillion ceiling on monday. without extraordinary measures geithner announced that the treasury would begin accounting moves that would keep the government from hitting its credit limit for about two months. the treasury secretary warning that it's hard to predict exactly how much time the accounting moves will buy, because ongoing cliff negotiations make it hard for them to forecast revenue and spending for next year. >>> housing prices, some good news. on track to record their first yearly gain since 2006. it's a front page piece in "the wall street journal." it describes what is the strongest performance since the housing bust. the trend could accelerate this rebound we've seen in real estate. reason for the improvement, growing demand, shrinking supply, banks have slowed down foreclosures, and says here become more aggressive at modifying loans, or approving short sales. meantime, weak home construction in recent years is a factor in what has become on the lowest level of inventory

cokie, tim geithner said they're making progress. >> congressman cole does, too. >> i want to hear thatn a very encouraging week for people who think that the fiscal cliff is not something that we want to go over and i think that the president's proposal that was put on the table was something that republicans were not going to accept, even close to accept, so it had the air of bizarre. you know, bargaining. but put a really high price out there so that when you start the negotiating -- >> when will the real negotiating begin? congressman cole? >> i want to thank the president and secretary geithner for reuniting and re-energizing the republican caucus. because that offer -- they must think that john boehner is santa claus, because it was a christmas wish list, it wasn't a real proposal. at the end of the day, do i think we'll arrive at a deal? i do. >> but you heard secretary geithner right there, and i want to get congressman ellison in this as well. they're not going to come forward with anything new right now? >> i don't know -- there's a little bit of chicken going on here in terms

we're told treasury secretary tim geithner joined the talks, trying to hammer out a deal to stop tax hikes and spending cuts from kicking in at the new year. one lawmaker calling the pressure red hot but is this any way to fix the fiscal mess? we'll get a live report from the white house in a minute. first, craig smith says no deal is better than a bad one. he's chairman of swiss america. that's stay on the economy. i agree with you, no deal. i think i've called it the obama cliff and said we should swan dive over the cliff because it would be one thing democrats could get through their head when they cut spending. >> i agree completely. this is crazy that we're even having that discussion, eric. august spending 256-171 the ryan budget was passed extending tax relief for all americans. 19 democrats voted for that. it was handed to mr. reid, mr. obama starting the warfare about taxing the rich. reid sat on the bill. why didn't he bring it up for a vote? why didn't it get fair debate? mr. reid hasn't passed a budget and we going to believe they're serious about the fiscal problems? let

tim geithner who is available and high profile, tim geithner and that's why you have whispers about whoe? time git git >> brian: how is the chairman of the fed who is in for wall street . now treasury ticket and doesn't see eye to eye with wall street and how would they respond. >> the federal reserve is supposed to be independent and removed from politic white house and removed from congress and independent and separate. if tim geithner were to go from the treasury to the federal reserve and got the president's ear, it would look like he would be doing president obama's bidding. in other words printing money constantly just like ben bernanke has. >> brian: we'll find ourselves to no longer being the world's currence competent devaluing our dollar to that point. >> wall street would not like it if geithner was nominated or suggested. >> brian: other people mentioned? chris somers. >> furthermorer ticket secretary. eye profile. >> brian: janet, royce chair. >> looks most likely at this point. but there is a whisper about geithner. >> brian: we'll come back here and grab the bull horn and

next week's game plan starts on sunday when treasure secretary tim geithner will appear on "meet the press" with my friend david gregory and hopefully explain how we're going to get out of this fiscal cliff mess. for once i actually believe we'll be able to bridge the cliff on the eve of destruction. and knowing that, i am both a guy who wants to take the pin off before new year's and i'm a buyer into negative capital chat ernext week. not a seller like so many of the pessimists out there. why don't we start with neil in florida. neil. >> reporter: boo ya, jim. it's neil in florida. facebook dropped. what should i do? hold or drop zynga? >> have a little january effect. everybody selling that thing nine ways to sunday. bad news. maybe they'll finish accepting by the end of december. and then you sell in the first week of january when it should lift. let's go to ramon in california. ramon >> caller: hey, jim, boo ya, baby, calling you from riverside county but born and raised in the san fernando valley. i'm a frequent watcher, jim. thank you for all that you do. >> thank you for that.

we heard that from tim geithner. if republicans refuse to raise taxes on the wealthy and john boehner said yesterday that's unacceptable, though he admitted any revenue will be coming from the rich. let me play that for you. >> the revenues we're putting on the table are going to come from guess who? the rich. there are ways to limit deductions, close loopholes and have the same people pay more of their money to the federal government without raising tax rates, which we believe will harm our economy. >> there are, as i'm sure you know, congressman, many gop, not just centrists but some conservatives, ohio congressman steve latourette, has argued giving the president what he wants and reducing the debt by $4 or $5 billion. >> it depend wlats what the pac is. this is an administration that has 1 trillion plus deficits for each four years. >> one part of that that republicans have talked about, that 2%, and whether you're going to protect tax break force them. steve latourette said some people who call me, they're more

yesterday, treasury secretary tim geithner made it clear that there can be no deal without higher top tax rates. >> last question, can you promise that we will not go over the cliff? >> no, i can't promise that. that's a decision that lies in the hands of the republicans that are now opposing increases in tax rates. if they recognize the reality that we can't afford to extend those tax rates, then we have a basis for the agreement and that's going to be the responsible thing to do and my judgment is they are going to do it. >> joining me now, ezra klein, huffington post, ryan grim. ezra, what do you make of the boehner proposal that was kind of cribbed from erskine bowles? >> two things. one, republicans are terrified about by the polls showing that they are going to immediately get blamed if they are not willing to compromise. the reason you initiate the bowles' plan is you say, look, they are going along with the former chief of staff said. it's important to know that when erskine bowles brought up this idea, it wasn't his plan. he was in testimony and he said to the supercommittee,

and we have some details on a war of word between treasury secretary tim geithner and house speaker john boehner. we will also update you on where the negotiations stand. right now by all accounts it is deadlocked right now with the clock continuing to tick down. >> a little testy. a little heated there. >>> and later this half hour, this year's gift wrap champ is here with her expert advice. find out how to wrap the most difficult presents, including a guitar, a candle, which is always difficult around the holidays to give. hope you don't give jenny a candle. >> i will light her fire, but not giving her a candle. you like to wrap. did you learn anything? >> i am horrible at wrapping, but i wanted to learn and get better. so i actually learned some great tips. >> take it to the lovely lady in the mall. >> i will wrap you. >> safety first. wrap it up. >>> but first, 62,000 football fans filled arrowhead stadium in kansas city the day after jovan belcher killed his girlfriend and then killed himself. a moment of silence on the field and in the stand for all victims of domestic violence. ab

so mcconnell laughed at the tim geithner proposal. and john boehner says we're at a stalemate. and president obama himself is kind of getting ugly about this enemy's list. we've seen this before from him. my proposal is, republicans have to come with a counter offer. right now. there's no point in blasting obama. just a counter offer. i want to read from today's newspaper. this is what mitch mcconnell said. "higher medicare premiums for the wealthy, an increase in the medicare eligibility age, and a slowing of costs of living increases for programs like social security. and then republicans would agree to include more tax revenue in the deal but not from higher tax rates." now, let's just look at this for a second. we'll go to you first, nan. he wants medicare eligibility, he wants medicaid reforms, he wants spending cuts. then he'll talk revenues. that seems reasonable to me. is he going to do it? will the republicans come back with their own counter offer? >> well, certainly larry those are elements of a long-term approach to our enormous debt. it's a crushing debt. it hams o

one guy who has been pretty busy is treasury secretary tim geithner. an interview with him on your show this morning. we look forward to that, candy. nice to see you on this sunday. >>> keep it here for "state of the union." it starts in about eight minutes at 9:00 a.m. eastern time. once again, you'll find that interview with treasury secretary tim geithner here on cmn. >>> apple, ocean, blue angel. what's with all these, i guess you could call them unusual baby names, and could they actually impact a child's development? we even reward you for the time you spent there. genius. yeah, genius. you guys must have your own loyalty program, right? well, we have something. show her, tom. huh? you should see november! oh, yeah? giving you more. now that's progressive. call or click today. governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male annou

the fsoc is chaired by treasury secretary tim geithner and includes the heads of the financial fdic. >>> ubs is set to plead guilty with charges into libor manipulation. tony fratto is still with us. criminal charges, tony? >> look, it is serious, but, you know, the whole libor issue was a serious issue. and i think what we need to do is see where we can get banks in a place actually where they can feel comfortable about reporting on inside interest rates in the future and getting this system right. b but, you know, criminal charges are very, very rare. i think it shows they're taking the issue very carefully across a range of issues. global banks are dealing with a lot of interests across borders and -- but i think we're getting them to a place where they can deal with it in ways that governments are comfortable. >> tony, just on this news about the stress tests, the fed is conducting about the examination of money market funds. we have a lot of corporate cash sitting in money funds that next year at the end of this year may be added to if, in fact, the bank deposit goes away for fu

tim geithner tells cnbc the white house is ready to over the cliff if republicans don't budge on taxes. >> is the administration prepared to go over the fiscal cliff? >> oh, absolutely. >> alan simpson co-chair of the president's debt commission, says both sides are making a high stakes gamble. >> when you have leaders of parties and people of the administration saying, i think it will be to the advantage of the democrats to go off the cliff, i think it will be advantage to the republicans to go off the cliff, or the president to go off the cliff, that's like betting your country. there's stupidity involved in that. >>> syria on the bring. secretary of state hillary clinton holds emergency talks with russia as u.s. officials confirm reports that the syrian military is prepared to launch chemical weapons against its own people. >> we've made it very clear what our position is with respect to chemical weapons and i think we will discuss that and many other aspects. >> the whole world is watching. the whole world is watching very closely. and the president of the united states has made ve