Obama Back in Campaign Mode, Tackles Fiscal Cliff Crisis

President Barack Obama makes his case regarding looming fiscal cliff.
2:15 | 11/27/12

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Transcript for Obama Back in Campaign Mode, Tackles Fiscal Cliff Crisis
battle brewing tonight, the clock is still ticking on the fiscal cliff. 35 days, taxes including on the middle class will rise unless they reach a deal and jake tapper tells us the latest on this duel. Reporter: At manufacturers of these will be visited by president obama as he makes his se for raising tax rates as part of a larger deal with congress. While the president is not trying to provoke anger necessarily, he is trying to drum up passions for his proposal. Meeting with small business owners today such as texas crop duster manufacturer david ikers. There was a lot of talk in the room about certainty. Small business wants certainty so they can plan how we move forward. Reporter: And releasing these showing them pleading for their tax cuts to be extended. If you take away the 2,2$2,200 away from 3450i paycheck it would severely impact my family. Reporter: While those for wealthier families are allowed to expire. We're not drumming up uprage. Reporter: Republicans today slammed the president for outsourcing the negotiations to treasury secretary tim geithner and other members of his administration. Rather than sitting down with lawmakers of both parties and working out an agreement, he's back on the campaign trail presumably with the same old talking points we're all quite familiar with. So jake tapper is with us now. They've clearly drawn their battle lines. What happens next? December 14th the house is scheduled to go on recess. If they break, the house of representatives without some sort of clear parameters of where this agreement might head, then I think we're in trouble and this could really come down to the wire. So 2 1/2 weeks we should know if they're really going to play it right up to the wire. That's right and there's a lot at stake obviously. The stock market, $6 trillion in tax increases, $1.2 trillion in deep spending cuts. For the average middle class family, $2,200 in higher taxes. That would be a hard christmas holiday for all the members of congress to face if they do that. Absolutely. Okay, jake tapper, good to have you in new york.

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