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'Fiscal' pressure shifts from Boehner to Reid

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    Mike Emanuel reports from Capitol Hill

  • Duration 2:35
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Its chief congressional correspondent Mike Emanuel standing by on Capitol Hill with the latest from that end of Pennsylvania Avenue might.

Well -- good evening coming out of that big White House meeting everybody seems to agree the next step should be the senate taking bipartisan action.

So the pressure shifts to senate majority leader Harry Reid and what he may be able to strike.

To get at least some Republican support.

House Republicans say they've already acted voting to extend all of the bush tax cuts in passing an alternative to the sequester the automatic cuts to defense and domestic programs starting in the new year.

So they've shifted the focus to the need for majority leader Harry Reid and senate Democrats to do something.

The way the senate is non functional right now.

Not remembering him -- up not remembering -- -- committee is incredibly frustrating to those of us now how's that are doing the work that has to be done.

If the senate wants a resolution the senate passed actually passed something on this we've done our work in the house the senate -- to respond.

The challenges determining what will pass the Republican led house in the Democrat controlled senate.

Fiscal conservatives say a smaller stopgap measure to avoid the cliff won't work.

If we in fact -- not use this period of time before us right now.

To -- the bigger -- entitlements -- -- gets kicked continue to kick the can down the road -- half measures.

I think the market is gonna respond in a more permanent and negative way to our inaction.

The one thing leading Republicans and Democrats seem to agree on his time is running short a veteran senate Democrat says there's a very small window to get something done.

If we don't have -- deal within the next.

24 hours.

The question is -- via parachute the closer we get to the end less likely it is.

That you -- going to be able to compress an agreement in the place they will have enough votes to pass.

But this struggle over the future of the country some suggest is not that different than what many Americans face in their daily lives.

This is no different than a marriage a lot of marriages fail because they fight over money they get heavily in debt.

And then they begin to fight over money issues we as a nation are right now fighting over money because we're so.

Heavily in debt.

Though in this case failure or -- week deal could affect the markets and have a lasting economic impact.

Sunday is setting up to be a critical day is -- house lawmakers return.

And when leaders in the United States senate are hoping they'll be able to offer a compromise plan -- Mike Emanuel on the hill and Mike of course we'll have much more on this with the panel tonight as -- developments are happening fast and furiously hopefully on this Friday evening.

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