The Fiscal Cliff and Obama's Grand Bargain (Part 1)

"President Obama invited Congressional Republicans and Democrats to the White House next week to begin talks to resolve the country's impending fiscal crisis, but he insisted on raising taxes on the wealthiest.

"I'm not wedded to every detail of my plan. I'm open to compromise, I'm open to new ideas, I'm committed to solving our fiscal challenges, but I refuse to accept any approach that isn't balanced," the president said in his first statement since winning re-election.

He also made it clear that being balanced means having the wealthiest pay more.

"As I've said before, we can't just cut our way to prosperity," Obama said. "If we're serious about reducing the deficit we have to combine spending cuts with revenue. That means asking the wealthy to pay a little more in taxes."*

Cenk Uygur, Michael Shure (Political correspondent, TYT and Current TV), and John Iadarola (TYT University) break down the realities of the "fiscal cliff," Obama's compromises and willingness to compromise his platform vs. Boehner's unwillingness to do so.

*Read more from Abby D Phillip/ ABC News:
http://abcnews.go.com/Politics/OTUS/o...

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• Category

  News & Politics

[deedee white]

i have one word for you TARD!

[h323v4]

These Young Turks are the BEST example of 1) Lack of Common Sense 2) Lack of Math and Economic skills 3) Believing in Big Government to take care of their needs . ... this is 21st century America and this is the new generation ..way opposite from their forefathers who worked hard to build corporations, innovations and didnt depend on government for basic needs ...

[BigMoInAZ]

Sorry Cenk! You're a fucking retard! The President was elected to lead the Nation! Not the Democrats, not the Republicans, not the Independents! But all Americans and it isn't about who just won or lost, this isn't a fucking game you douchebag! Obama needs to lead and frankly, he's been a disappointment in that department from day one! As for listening to you bloviating, I couldn't make it past 9 mins because you and your crew are fucking morons!

[chrispatchett1221]

You don't fix a budget by raising taxes you fix it by lowering government spending!

[sput nick]

Please learn how to write a correct sentence.

[sput nick]

Obama is enjoying his best Christmas ever.He is in Hawaii on the tax payers expense. All he needs to do is nothing and taxes will go up on ALL Americans. He then will blame the Republicans for it. It is a win win situation for our Socialist President.Is this a great country or what?

[chiyen chendra]

Thank the info! I was watch Molyneux documentary about, how cheap is health care before government takes over with AMA,etc. Free market solve expensive cost of health care. Government solve cheap health care. /watch?v=IBFoC1gkExI

[crackerkiller89]

I dont believe conspiracy theories. I isntead subscribe to Occam's razor. That is, the explanation with the fewest twist and the one that is simplest is probably correct. I dont know why they started to subsidice corn, but once they did the companies then paid politicians money to make sure it stayed that way as they were making a killing off of HFCS. The one good thing is that most people are aware of how bad it is and the FDA did not allow them to change the name of HFCS to "corn sugar."

[chiyen chendra]

About fruit. Well i against any kind of subsidy. But my point is, government subsidize high fructose corn syrup. Because it also indirectly subsidize health care industry. If all food are not subsidize, people would prefer healthy food. It will lower obesity, and it would reduce demand for healthcare. This is just my conspiracy theory, government subsidize high fructose corn because they want to preserve the expensive healthcare price.