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Economy and Politics: "Fiscal Cliff" / White House Plan / A Discussion #1034425

CNN Evening News for Thursday, Nov 29, 2012
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(Studio: Wolf Blitzer) Report introduced.

(White House: Jessica Yellin) The White House details on a plan to avoid the "fiscal cliff" examined; details given from the specifics on the tax rates, extending unemployment, a stimulus, a mechanism to extend the debt limit in return for Medicare and other entitlement savings and the rejection of the plan by the Republicans. How this is a negotiations dance between the White House and the Republicans discussed.

(Studio: Wolf Blitzer) The political response introduced. [Speaker of the House John BOEHNER - says he is disappointed and the fiscal cliff is serious business.] [Senator Harry REID - says we wait for a Republican offer.]

(Studio: Wolf Blitzer) Live interview held with Democratic Representative Keith Ellison about a deal. [ELLISON - defends entitlements while tax provisions are expiring; calls the "cliff" a deadline and he will not sacrifice the interests of poor/older Americans for the sake of a deal; talks about needing a sustainable ratio between the GDP and the deficit.]

(Studio: Wolf Blitzer) Live discussion held with CNN's Republican Mary Matalin and Democrat Cornell Belcher about the fiscal cliff issue. [MATALIN - calls the White House deal offer "pathetic" and "sad" and the president wants new spending without entitlement reform.] [BELCHER - says polls indicate Americans want tax cuts and taxes on the wealthy; recalls the expansion of the Clinton years; criticizes the Republicans for wanting a locked-in tax rate.]

Blitzer, Wolf;
Yellin, Jessica

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