As deadline looms, Senate leaders look for fiscal cliff compromise


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WASHINGTON D.C. — President Barack Obama and House Speaker John Boehner couldn't reach a fiscal cliff compromise and now it's up to the leaders of the Senate.

Lawmakers have until midnight Monday to avoid a free fall that will raise taxes and could send us back into the recession.

As senate leaders were behind closed doors mapping out an escape from the fiscal cliff , President Obama and republicans issued dueling messages on the web.

"We just can't afford a politically self-inflicted wound to our economy. The economy's growing. But keeping it that way means folks you sent to Washington have to do their jobs," Obama said.

If the nation goes over the fiscal cliff next Tuesday, each side says the other's to blame.

"We still can avoid going over the fiscal cliff if the president and the democrat-controlled Senate step forward this week and work with republicans to solve this problem and solve it now," Senator Roy Blunt, R, Missouri said.

Deseret News:

All over the country, uncertainty is in the air. Getting a deal is up to the senate's top democrat and top republican.

"We are engaged in discussions: the Majority Leader, myself and the White House, in hopes that we can come forward as early as Sunday and have a recommendation," said Senator Mitch McConnell, R, Kentucky.

"Whatever we come up with is going to be imperfect some people aren't going to like it some people are going to like it lasts but that's where we are,"said Senator Harry Reid, D, Nevada.

Even with talks going late into the night, some — like Utah's Senator Mike Lee, R — are still frustrated with the system.

"The point we need to emphasize, is that if a deal happens between now and Jan. 1, that deal won't be something that will take us out of the woods," he told KSL. "It will preserve 99 percent of the status-quo, a dysfunctional tax code that has brought us $16 trillion in debt and a $1 trillion annual debt. And we'll still have to address those problems in the coming year."

Majority Leader Harry Reid and Minority Leader Mitch McConnell say they're confident they can find a compromise. But then they have to sell it to House Speaker John Boehner and his fellow republicans before Monday night's deadline.

Contributing: Richard Piatt

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Brian Mooar, NBC News

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