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Senator Debbie Stabenow on fiscal cliff burden and next steps

Senator Debbie Stabenow (D-MI) addresses the Detroit Economic Club on April 11, 2011.

There are about three weeks remaining until the fiscal cliff deadline and so far, there is no deal in Washington to avoid the package of steep spending cuts and tax increases set to kick in next year.

Last week, we heard from Republican Senator Rand Paul (KY) on the issue. Today, Democratic Senator Debbie Stabenow (MI) shares her thoughts about the ongoing negotiations.

"There is no reason not to have a deal, everyone knows what needs to get done, its just a matter of the political will to do it," says Stabenow, who supports raising taxes on high-income earners and extending tax cuts to the middle class as part of any deal.

In order to move forward, Stabenow is calling on Republicans to lay out specifics on spending cuts to entitlement programs such as Medicare and Social Security. "We’re more than happy to find savings in every area being talked about," she says, "It’s a question of how – we say, don’t burden the middle class, don’t burden seniors."

In the end, Stabenow echoes the sentiment put forth by many in this debate: Only a bi-partisan compromise will bring forth a resolution.

About the author

Jeremy Hobson is host of Marketplace Morning Report, where he looks at business news from a global perspective to prepare listeners for the day ahead.

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