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Real News': Will Obama's Proposal for Dealing With the Fiscal Cliff Work?

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President Obama held his first news conference in eight months Wednesday afternoon, where the serious issue discussed at hand was budget negotiations and the fiscal cliff. While talks between the White House and congressional leaders begin on Friday, we already have an idea of the president’s opening request: $1.6 Trillion in tax revenue. That's more than double what he asked for only a year ago. Much of that new revenue will come from raising taxes on those making over $250K per year, whether it be via letting Bush era tax cuts to expire or the creation of a new “Buffet Rule” tax rate. It is, as the president told labor leaders yesterday, non-negotiable.

But is that idea for addressing the cliff correct? On 'Real News' Wednesday the panel went through the risk versus reward of the president’s plan for approaching the fiscal cliff, watch a clip below:

 

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