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to a deal in washington today. you can tell from the sell-off, investors do not like it. >> no, posting their largest decline since november 14th, in case you were wondering. although we are off the lows of the session right now. the dow was down 189 two hours into the trading session. we've come off those lows. but at this point, the dow is down 1% for the week and we are down 1% today at 13,173. nasdaq lower, as well. let's see how many percentage points we're down right now. down 1.25%. the technology sector is taking a bigger hit today. down to 3,012 on the nasdaq and the s&p 500 index is down 1% at 1428. . >> house speaker john boehner says he's still open to a offer from the democrats. >> it was a dramatic evening last night. john harwood was there. he has the latest on the on talks. are there any talks, john? >> i think so. but they're pretty muted. this bill was not win of those weeks that makes washington look good. come to think of it, there aren't many weeks that make washington look good. but this was especially especially difficult because you had negotiations getting close












the fiscal cliff. events moving faster in washington. house speaking boehner meeting with party members, moving to plan b. that deals with bush era tax cuts. the white house rejected that. investors like whatever progress we're seeing. s&p 500 at a two-month high. s&p up 1 1/3 -- 1.1 on s&p, dow jones industrial average up 114 points, almost a full% enand nasdaq up 1 1/3. the latest on how those negotiations are progressing. >> over the last 24 hours or so we've had a flurry of proposals, counter proposals, responses, responses to responses. as it lies right now, basically all those responses have been rejected by the other side. at the top of 2:00, we should have a new round because we're going to expect to hear from the senate democratic and republican leaders coming out and talking to cameras. we might get more reaction then. but earlier today speaker boehner came out and unveiled the big one, a two-track plan that would have the house vote on what he's calling plan b. take a listen to his rational for going that route. >> at this point having a back-up plan to make sure that as few






to a compromise? we go back to cnbc's eamon javers who joins us from washington with all the details. good evening. >> reporter: good evening, larry. you're right, they did meet today. it was a surprise meeting not announced as the previous meetings between the two men have been in past weeks. so we know that the meeting lasted about 45 minutes and that treasury secretary tim geithner also attended. what we don't know is whether the two men came to any deal or not or advanced the discussions in any way today. what we do know is that up here on capitol hill, senator harry reid, the democratic leader, suggested to his fellow senators that they might consider coming back on december 26th, the day after christmas, to finish up the fiscal cliff which suggests to you that they might be heading down the path toward a deal, although that is not set in stone. meanwhile, over at the white house, the press secretary, jay carney, was asked about where the president stands on the fiscal cliff. and he did his best to give as invasive an answer as possible and keep the negotiating wiggle room open. take a listen

>> steve: you have a schism in the republican party. they went to washington. look they are not going to raise on anybody and we'll cut thengs . you have the other faction . republican party saying look, we didn't do so well in the last election . we have to compromise with the president to get something done . that's why john boehner said i don't have a votes mr. #2: if you give me plan b i am vetoing in. republicans were saying we are giving you something and go home. they decided plan b will not pass . they are not coming back until after christmas. mr. boehner said i tried. you cut a trial. newt kning rich sat down with bill clenton and 30 days of one and one negotiation . he said it is time to go back to that. >> my advice to them have every single committee starting january 3rd hold hearings on every lempt waste in the federal government . let the country see all of the different ways to waste money to peck up on can congressman cantor. speaking is the problem and drive issue after issue . we would like to fix the tax rates, and any time the president and democrats want to talk

'm alina cho in new york. >> and i'm dana bash in washington. john and zoraida are off. >> a developing story in afghanistan. an adviser to the afghan police has been shot and killed by a woman wearing an afghan police uniform. the latest in the series of green on blue insider attacks and our pentagon correspondent barbara starr joins us live with details on that. good morning. how unusual is this? >> well, alana, sadly this is a story we've report sod often during the year, haven't we? the details on this attack are different in one respect. as far as we know this is a case where a woman, an afghan woman in a police uniform conducted this shooting and killing. a contractor in cab uhl police headquarters. the nato alliance has already announced the incident but not said the nationality officially of the contractor involved. this typically does not happen where the perpetrator is a woman. they are going to have to determine, of course, if she really was an afghan police officer or perhaps the uniform was stolen or she somehow came into possession of it. a continuing issue in afghanistan


are watching every move out of washington. the industrials opened higher by 45. the nasdaq would open higher by 10. the s&p 500 would open higher by six. >>> and the fed wrapping up its two-day meeting this afternoon. its latest policy statement is expected at 12:30 eastern. that will be followed by a news conference at 2:15 p.m. the fed is expected to announce a new round of bond purchases as its last program known as operation twist set to expire at the end of the month. we'll have special coverage at cnbc of the decision and ben bernanke's news conference starting at 12:15. we'll talk to steve leaseman live later in the program. >>> another story that you heard about yesterday, the -- you know, violence and death threats and blood and guts. big implications for big labor. that is michigan's decision to become a right-to-work state. thousands of protesters and union members converged on the capitol in lansing yesterday to object to the measure that would bar unions from requiring workers to pay membership dues and to join the union. governor snyder signed the measure into law. >> shouldn't

-year, and this, when we used to go and see greenspan down in washington, he said everything else you have on your ticker, i need to see the 10 year. i need to see that every morning. nothing has happened in the ten year for the last -- i don't know. it's just not as interesting as it used to be to watch. when it's manipulated, it's not that interesting. >> one of the things about qe is that it's volatility. and you have seen implied vols down in all asset classes, including bonds. >> because things normally are volatile, that just shows us once again this is not letting things -- letting the chips fall where they may. >> yeah. i think it's baked into the cake. >> but i think he's on to something. the fact that the fed is there, the fact that the fed is trying to get ahead of the fiscal cliff and we've got these big bond buying programs. and the last time, remember, in august of 2011 when we had the last showdown, what happened? bonds rallied. >> and you said you want this to be fixed. you almost need the markets to be more volatile than they are. >> that's one of the theories that people have thr



. >>> doug luzader live in washington. thank you. >> that leads us to today's "look who's talking." she says it has been three months since the deadly attack in benghazi and no one is held accountable especially the terrorists that were involved. >> we have not done anything to capture or kill any of the terrorists who under took this action who killed our people. that's in large part because we have no interrogation program, because we are treating this like a law enforcement matter because the fbi is asking nicely can we get access to the one person who seems to be in custody, tunisians. but we have done nothing to bring anybody to justice for these murders. this is a 4 part scandal and coverup. neither the president nor the secretary of state has given anybody a true or full accounting of what happened and what they knew and what they knew it. >> as mentioned earlier hillary clinton is expect to do testify on the benghazi attack in mid january. she may be retired from her post by that time. >> five more victims of the sandy hook masses kerr will be played to rest. katherine hubbard, ann m

, then we're going to go down to washington and prompt a conversation that's long overdue. you know, a young man grabbed us in his church we were in sobbing saying, don't let this happen again. i think our job here is to not set expectations too high, right. this is complicated. and so we can't solve it with legislation. there are certainly going to be lessons learned. >> isn't that in the end sort of balance you have to take, in that a person without a history, a criminal record or mental health record of any sort, that would suggest some kind of violent tendencies, can get guns. some of the strictest gun laws in the country are here in connecticut and these guns so far we know were purchased legally. there is a limit to what anybody can do to stop this sort of thing? >> we are never going to be able to take guns out of the hands of every deranged person, but we can do something. and i think there is renewed focus on this issue. i think that this incident, horrific and horrible as it is, almost unspeakable in its inhumanity and cruelty, will spur and transform the national discussion about

with our xaernt washington correspondents. good morning, john. were you up all night? >> not all night, but we stayed on, of course, until 9:00 after it was clear that the house alternative had collapsed. but, joe, i was listening to your conversation earlier. this is not about the far left and the far right. this is about the republican party not being able to get its act together and figuring out and strategy and pursuing a strategy. >> i watched the press conference yesterday. all the reporterses, all the mainstream media reporters were saying, mr. boehner, why are you going through this exercise? this is an exercise in futility. why are you doing this? why even hold the vote? and then he can't do it and now all of you are going, see, see, you can't even do it. >> but it does raise questions about what this means for -- >> joe, it's not about the mainstream media. it's about the inability of this republican party to face the -- face political reality. the president was re-elected. his positions are much more popular where the country than theirs. they are locked into a caucus in the

within the republican party. they don't understand any of this. they didn't come to washington to do anything for the american people. they came on an ideological binge and they are staying on that. they are not going to come off of it. so i think that speaker boehner is going to have to cobble up 130 republican votes knowing full well about 45 or 50 of them he's never going to get, and we on the other side of the aisle are perfectly willing to come up with 125 or 130 votes on this issue and let's just meet halfway and get this done. that would give you 260 votes. you don't need but 218 for it to pass. but if you think you're going to do something and get your 218 just from the republicans, then that's not the way to do it. and i think that that's what the problem is here. speaker boehner is being threatened with that 218 votes from the republicans or he is subject to lose 125, 130 of them when he's trying to get re-elected to his speakership. >> do you think he can fight that rebellion off, sir? because there are a number of people who are saying that they would rather replace him a

this went down. those are the breaks in washington. >> let me ask you, i know it's a question of trade craft and you're the best at it. so i'm not questioning how you find out things, but this one is tough. there are so many desperate streams of thought and emotion in this white house about this appointment, people who have their own interest, people like the security staff. the people close to the president from chicago. there's aspects of feminism here, aspects of sexism. so many swirling emotions and sentiments. how can you tell me what the president wanted? it seems so hard to get to him not just to people around him with their own agenda? >> i think you're right. there was a split, if you will. it's sort of the cold pragmatists all thought john kerry secretary of state makes sense. he's earned this. he deserves this. this is a good thing. and the foreign policy had to say you know what, secretary of state should be somebody who almost was president. you know? and in the heft of a hillary clinton being replaced by the heft of a person that was a football stadium away from being president

in washington. a rough friday before christmas. is the fiscal cliff already here? >>> church bells will ring 26 times for the victims in sandsy hook. one week after the terrible tragedy. >>> friday, december 21st. "starting point" begins right now. >>> good morning, a major political blow for house speaker john boehner, one that will affect his position. house republicans abandons him, and it forced the speaker to cancel a vote on plan "b" which would have extended bush tax cuts on incomes below $1 million. congressional correspondent dana bash there was and watched it unfold. walk us through what happened? >> it really was stunning. that is the perfect word, soledad. i was watching all day, talking to republicans to try and figure out if the speaker had the votes. really hard to imagine he was so far out. so far out on this being a strategy. republicans want to prove that they won't let things go up. i was watching earlier votes. watching the speaker's team on the floor, trying to twist arms and trying to get republican votes, and clear from the expressions on their faces it was not going well

quickly here. john harward in washington here today. thanks a lot. the cheddar, bacon, onion sandwich that boosted sales for mcdonald's in december. >> steve liesman's exclusive interview with richmond fed president jeffrey lacquer. the lone dissenter at every fed policy meeting this year. more "squawk on the street" after this. the . >>> all right. if the sight of this sandwich makes your mouth water, then you are in luck. because the mcrib is back at mcdonald's today. but how much do limited time offers really impact on sales? we're here to break down the mcrib effect. ladies, great to have you with us. rachel, i'll start off with you. what sort of impact could we see potentially in the month of december? i read in the past, in 2010 at least, one of these limited introduction offers that it actually boosted sales by almost 5%. >> i think it depends on what the lto is and what the prior year same-store comparison is. i wouldn't expect to see a positive number of the magnitude that you're discussing. actually, frankly, it will probably be something in the single digit negatives. but a




. >> peter doocy joins us live from washington with the very latest as we see video of the president hopping on board air force one, right? >> that's right, clayton. president obama popped in to the james brady briefing room at the white house yesterday at about 5:30 and basically said that since the american people in november voted for democratic control of the white house and the senate and republican control of the house. lawmakers need to compromise but he also made clear as of right now when it comes to the fiscal cliff and avoiding it, there is no deal. >> so as we leave town for a few days to be with our families for the holidays, i hope it gives everybody some perspective. everybody can cool off. everybody can drink some eggnog, have some christmas cookies, sing some christmas carols. enjoy company of loved ones. and then i would ask every member of congress while they're back home to think about that. think about the obligations we have to the people who sent us here. think about the hardship that some americans will endure if congress does nothing at all. >> it was just a few minu


of the most explosive issues. if people think that washington was not afraid of this issue, and the gun lobby, i invite them to join us in trying to get people to come on television to talk about it. we've never had such a time as we had sunday trying to find people to come on on "face the nation." i know our competitors had the same problems to get people who, you know had been pro-gun in the past to come on and tell us exactly what it is this issue is all about. >> bob -- >> it's a very difficult issue. >> let me turn to the fiscal cliff. do you think they're getting any closer? >> you know, i actually do. for all the doom and gloom talk i mean let's look at what happened here. i mean speaker boehner has now said he is willing to increase tax rates for the upper income people. he says people over $1 million. well i would remind you that that's chuck schumer's plan back there, democrat chuck schumer said that's the way to go on this. the president has also said he's willing to make deeper cuts but they just are not there yet, and you know the power of christmas is ve


out of washington. but before we get to that, why don't we start with our day anticipates top story. the i.c.e. and the nyse are in talks. the numbers put the price tag at about $8 billion. >> we watched this -- now, you said you were watching this last night with kudlow, right? >> i did. >> did you think david faber? did you think when was book ending? on this, it went up last night. i don't know why this chart is showing no movement. it went up six points. >> yeah, right. >> that wouldn't even bring those -- because we watched. faber was talking about that last night. >> maybe if we show the prior day. >> that was the prior day. >> there's a glitch or something. >> that was the prior day that didn't show the after hours trading card. it was right about 720 been i think, wasn't it? >> and all this followed and it's a big story. >> well, it is. it's interesting because it's nyse euronext. >> and this isn't the first time that i.c.e. did this. >> no. you will are ebb that i.c.e. made a joint unsuccessful bid for control of the nyse last year. when the two withdrew their offers, they

christmas in washington, do they? >> you have thursday, friday and monday, right? >> you have a lot of aides prepared to come back after christmas to try and make sure they're not too far away from d.c. it does look encouraging. you've had movements on both sides. you've had boehner indicating that he's willing to accept and rising tax rate for the wealthiest. at the same time, you've had the president scaling back the limit to which those tax rates go up the. >> and they're not arguing about idealogical points any more. >> exactly. >> and what about the debt ceiling? do you think this gets thrown to the mix or not? >> well, i think the white house knows very strongly that as far as the markets are concerned, they want to try and get some kind of clarity for the next few months. after the last couple of years, no one really trusts the government or trusts the administration to not have a series of crisis and tiptoeing to the edge. so my bet is they will try to get some sort of deal. >> who has more trouble convincing the people they need to sign off? boehner could get enough with democrats a

? how likely is it that we'll go over the fiscal cliff? i'm curious about the mood in washington right now. >> there is an increase in optimism because of the mood out of that meeting today. but i still would say the people who are -- placing bets in this town still expect that the nation will go over the fiscal cliff. so still a little bit more hope than what we woke up this morning, but no one is counting on being off on new year's eve. >> randy. >> jessica, thank you, more now on the raw politics, good to see you both. cornell, let me start with you here, the president said he wanted to see a straight up or down vote. as we mentioned that could happen in the senate. we could lose the up or down vote. >> you are going to see something come out of the senate. you have to pay attention to the tone, i think you will see something come out of the senate on up and down, but i think the problem comes on the house side, whether or not in fact speaker john boehner is going to allow what the senate sends their way to go on an up or down vote, without having a majority of the majority. >> and


for the holidays despite wrong out an agreement. they say they will return washington next week. if they don't reach an agreement tax hikes and spending cuts will automatically kick in on january 1st. the president wants higher taxes for families making $250,000 a year and boehner is putting eight one million dollars. john hammer is back safe and sound for christmas. 27-year-old was released late friday after spending four months in a mexican prison. mexican police arrested him for crossing the border carrying a family heirloom shot shotgun he is facing 15 years behind bars. now back to fox filers. for the latest headlines go to foxnews.com. >>> we are here in grand central terminal in new york city. every day, 700,000 people pass through here which means that superdogs like holland have a very important job to do especially in a post 9/11 world. here is what it takes to become a four legged hero he. ♪ ♪ >> before they could do this, they all start out like this. fox files cameras got a first-hand look at the department of defense military working dog program at lackland air force base w

of sandy hook elementary finally cattle kizes our nation and our leaders in washington to commit to do something substantive regarding gun roll and access to mental health care services to those who desperately need it. we'll be right back. what?! it's not bad for you. it just tastes that way. [ female announcer ] honey nut cheerios cereal -- heart-healthy, whole grain oats. you can't go wrong loving it. constipated? yeah. mm. some laxatives like dulcolax can cause cramps. but phillips' caplets don't. they have magnesium. for effective relief of occasional constipation. thanks. [ phillips' lady ] live the regular life. phillips'. a body at rest tends to stay at rest... while a body in motion tends to stay in motion. staying active can actually ease arthritis symptoms. but if you have arthritis, staying active can be difficult. prescription celebrex can help relieve arthritis pain so your body can stay in motion. because just one 200mg celebrex a day can provide 24 hour relief for many with arthritis pain and inflammation. plus, in clinical studies, celebrex is proven to improve daily p

't do something. peter doocy is life in washington. >> the speaker of the house john boehner thinks that president obama moved the goal post again yesterday. even though the president is asking for 1.4 trillion in new taxes over the decade which is 200 billion less than the initial offer, the republicans are not moving. their counter offer for 800 billion over a decade same as before and republican aids are telling us there is's big gulf between the sides on detailings. republicans don't think that the president is specific enough about the spending cuts he's willing to pass. >> the president doesn't agree with our approach. he's got an obligation to put forward a plan to pass both chambers of congress. right now the american people have to be scratching their head and wondering when the president is going to get serious. >> officials privately expresss would increased optimism about a deal with one senior audiovisor saying that democrats and republicans moved 75 percent of the way toward a deal and in an brew with barbara walters on abc, president obama said he is optmistic that th

children. >> i'm corporal brett bass. i'm from seattle, washington. i want to say merry christmas, to my parents and my friends. and good morning, america. >> i'm from puerto rico and florida. i want to say merry christmas to my family in puerto rico. to my wife, my daughter. ♪ ♪ ♪ ♪ [ female announcer ] nothing gets you going quite like the power of quaker oats. today is going to be epic. quaker up. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. till you finish your vegetables. [ clock ticking ] [ male announcer ] there's a better way... v8 v-fusion. vegetable nutrition they need, fruit taste they love. could've had a v8. or...try kids boxes! could've had a v8. he i

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