Clinton undermining Obama? I'm very sorry

BILL CLINTON: what i was saying yesterday, which is apparently not accurate, is that if this fiscal cliff comes to the president and the congress and the country before the election, he can't afford to give up his position and he shouldn't. that we'll have revenues to deal with this debt long term and asking those of us to pay taxes. i support that position. i always have, and -- but the republicans feel they can indirectly ratify it, so i was talking whether they needed to put off after the election, but they still have until the first of the year. so if they have until the first of the year, in any case, to deal with this there's no problem. they both have their positions, and to decide how to resolve it, but the election won't intervene and therefore, i regret that all of this stirring up has happened because that's what with i was thinking. i was under the impression that shooing might have to be done before the election.

BLITZER: the president has flatly said he will veto any extension of the bush tax cut for individuals making more than $200,000 a year and families making more than $250,000. he's extended it a few times and he says he won't do this again.

CLINTON: i support this issue, and i think on the merits, upper income people will have to contribute to the long-term debt reduction. you get debt now, there are irthree thing, adequate revenue stream and what he's trying to say is that we've got to have all three, and so i support his position, but we really -- i'm very sorry about what happened yesterday. i thought something had to be done on the fiscal cliff before the election.

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