TODAY | December 03, 2012
>> are threatening to derail negotiations to avoid the so-called fiscal cliff. nbc's chief white house correspondent chuck todd has the very latest for us. chuck, good morning.
>> reporter: good morning, natalie. if the adage it's always darkest before the dawn is true here, then maybe this is good news, but other than that it's clear that both the white house and republicans on capitol hill are very far apart. tim geithner obviously issued that final -- the first plan that they want that called for $1.6 trillion in tax hikes and the republicans rejected it out of hand. yesterday on the sunday shows geithner argued that no new offers until the republicans come up with an offer their own, both on taxes. of course, they want tax rates to go up, democrat, that is, republicans have been refusing to do that, but also on entitlements. republicans believe the president should offer up an entitlement reform plan. i can tell you talking with aides, natalie, they don't want any part of that. they want the republicans to own the entitlement reform plan, things on medicare and medicaid. they don't want to own it, so it could be a long week.
>> for you especially. chuck todd there in washington. thanks so much, chuck.