Obama plans to meet with congressional leaders at White House to discuss fiscal cliff solutions

POSTED: Friday, December 28, 2012 - 9:00am

UPDATED: Friday, December 28, 2012 - 9:04am

Even as the finger pointing continues on Capitol Hill there is new hope for a deal to avoid the fiscal cliff.
President Obama will be meeting with congressional leaders later today.

The pressure is on.

With just four days left to avoid the fiscal cliff, an unsuccessful meeting today between the president and congressional leaders could seal the country's fate.

President Obama and congressional leaders need to make progress.

"McConnell seemed to give the indication that maybe, just maybe the President may make a new offer here in getting toward the 11th hour of this fiscal cliff negotiation we have to wait and see," said Eamon Javers of CNBC.

Without a deal that cuts the U.S. debt, taxes will go up on ever worker next week, as the extension to unemployment benefits expires and deep spending cuts set in threatening another recession.

Despite what's at stake, Senators came back from their Christmas holiday early only to engage in another round of bickering.

Republicans say they're willing to compromise on taxes but not more government spending.

Now the big concern is that both sides could be giving too little too late.

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