Congressional leaders met at the White House Friday, trying to come up with a deal to avoid big tax increases for all of us and big cuts to social programs and the U.S. Defense Department.
The so-called fiscal cliff kicks in if there's no deal before Tuesday. Adding to the urgency: two million unemployed Americans will lose their benefits Saturday if a deal is not reached. The nation's borrowing limit to finance its $16 trillion debt will be maxed out by Monday. Stocks sank again Friday-- the fifth straight day of losses-- fueled by fears of going over the cliff.
Leaders left the White House late Friday without a deal, but the president and lawmakers were positive about the meeting and say they are working on a plan.
Sen. Bernie Sanders, I-Vermont, joined us from Capitol Hill Friday, where there was new optimism Friday.
"Well, Senator Reid just spoke to the Senate and said he was kind of cautiously optimistic. He's going to be working with Sen. Mitch McConnell and the president and hopefully something will happen. Clearly, if something does not happen, a lot of people are going to be hurting. So, I think we all want to make sure that a deal can be reached," Sanders said.
Watch the video for the full interview with Sen. Sanders.