With 29 days until the fiscal cliff, Republicans and Democrats continue to disagree about the necessary cuts and tax increases needed to make a deal. Sen. Richard Blumenthal (D-CT) joins “Starting Point” on Monday to discuss the impending cliff, but unlike others, the Democratic senator says he is “encouraged” that the U.S. can avoid the looming cliff.
Blumenthal says that he is "encouraged," first, because “a growing group of Republicans” have discussed increasing taxes to raise revenue and, second, because a number of business leaders “are proposing that the president’s plan make sense.”
However, the Connecticut senator warns that Republicans need to come forward with “some of their specifics." "If they say they want to avoid these tax increases, they need to be more specific on how to do it," he adds.
“There has to be, to use the magic word, compromise,” Blumenthal says. “And there have to be negotiations. You know, in any sort of compromise in any serious negotiations, there has to be a give and take and I'm hoping that there will be in the coming weeks.”