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Weighing strategies in 'fiscal cliff' fight

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    Will Democrats, GOP reach compromise?

  • Duration 3:13
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National leaders are expressing confidence that they can reach a deal with President Obama to head off the fiscal cliff and the risk of a new recession -- this country.

Top members of the house and senate spoke at the White House after a closed door session with the president.

At issue is a series of tax hikes and spending cuts that could jeopardize the nation's economy.

I believe that we can do this.

And avert the first of fiscal quote that Wright Brothers today.

And we felt very I feel very good about what we were able to talk about in there.

We have the cornerstones of being -- the work something out.

My in the -- is president of the committee for a responsible federal budget she launched an ad campaign calling on leaders to work together to solve the problem.

And her voice is -- very well heard in Washington when it comes to this issue -- mile.

Having listened to the sound bites that the the various members of congress issued after they came out that White House meeting are you hopeful.

I think they can do -- I am hopeful.

The fiscal cliff it's helping to focus the mind of members of congress that they have to take actions to deal with both not going off of the cliff.

It would just be so foolish to go ahead and let all these policies hit which we have been told would cause a recession.

But they also just can't punt which is something they've done so often -- -- and they need to use this moment to put in place.

A bigger debt deal the kind of thing we all need no needs to happen to fix our fiscal challenges.

And I do think that the importance of this moment.

Is going to help bring both parties the senate the house and the White House together.

The hashed out what's going to be a difficult deal admittedly but is so clearly something we have to deal but from the White House side you've expressed publicly.

The fear that the White House negotiating negotiating strategy you said could be foolish and dangerous what do you mean by that.

I've been worried when people have talked about going off the fiscal cliff.

Right it just doesn't make sense that we would be willing to do something.

That we know -- but the country back into recession and I know political negotiations are what they are and everything's overly partisan in this in this town even when something so important as not only -- -- and a cliff.

But putting in place a big debt deal.

But I also have seen incredible.

-- and openness to putting in place to deal both from President Obama.

And leader Boehner and a number of members of congress who are saying what we can't put our head in the sand we know that this have to be dealt with.

And now as a moment to get started on it so I'm worried when I hear people saying well why don't get my -- go off the -- And you hear that on both sides frankly but I'm also encouraged.

With the kinds of openings that you've heard from both sides about acknowledging what's true.

We have to reform our tax -- and we have to raise more revenues we have to reform our entitlement system.

In a way that a structural and really fixes these programs we have to rein in spending.

And we have to do all this in a way that could for growing the economy pro growth and -- putting us back in -- session.

We can do this but the parties are gonna have to work together.

Let's hope that everyone in that room this morning is optimistic as you are and can actually get this done -- mcinnis from thank you.

Thank you.

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