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Clock still ticking on a 'fiscal cliff' deal

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    Is hope of a compromise fading?

  • Duration 2:36
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Tells -- President Obama and lawmakers have so far failed to reach a deal on the fiscal clear if it can be expected that.

They're gonna get a little cold in their stockings this Christmas.

And his chief White House correspondent Ed Henry tells us the holiday spirit hasn't -- either side.

Willing to compromise.

Yes.

After attending a memorial service or senator Daniel it away this weekend President Obama today enjoyed a round of golf.

-- the R&R here in Hawaii is not likely to last with aides saying the president is expected to fly back to Washington as early as Wednesday with hopes of a last minute budget deal fading fast.

It's the first time that I have I feel it is more likely that we will but go over the cliff they're not and that do if we allow that to happen it will be.

The most colossal.

Consequential.

Act of congressional irresponsibility.

Republicans continue to insist the president wants to go off the cliff for political purposes I think he sees a political victory.

At the bottom of the cliff he gets all this additional tax revenue for new programs against -- cut.

The military which Democrats have been calling for for years and he gets to blame Republicans.

-- four if the president's top allies note he's tried to get a deal for weeks and -- the real problem is Republicans won't admit mr.

Obama won the election.

On taxes are you know it's hard for the Republicans what the president ran on that platform to fifty.

No tax increases people below but taxes for people above he won 60% of the voters said they were -- in the exit polls including some Republicans.

In the wake of house speaker John Boehner -- and beat failure all eyes now turn to senate leaders Harry Reid did Mitch McConnell.

And whether they can work out something far short of a four trillion dollar grand bargain.

A last minute stop gap along allies the president outlined Friday extending tax cuts for people making 250000.

Dollars or less.

And unemployment benefits for two million people who will lose those benefits a week after Christmas.

It is going to be a patch because in four days we can't solve everything yet.

Other Republicans -- the president short term fix raises some taxes yet -- spending cuts until next year I would vote for revenues.

Including tax rate hikes even though I don't like -- To give that to save the -- for becoming -- but I'm not gonna set aside the one point two trillion in cuts if the president does return to Washington later this week.

It's unclear whether we'll come back here -- -- -- for new years with his family.

Joseph Lieberman says he expects the senate to be in session on New Year's Eve.

Working on -- deal right down to the wire.

Got Ed Henry in Honolulu thank you --

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