CBS News with video and text(03:00):
The deal to reduce the deficit could be huge - somewhere between $1 trillion and $4 trillion.Howie P.S.: Here's a new video (04:46) from Jim Messina, Campaign Manager-Obama for America: "Exclusive: First look at our report." HuffPo headlines the story from AP: "Obama Fundraising For 2012 Campaign, DNC Breaks Record."
The two sides are talking about taxes, Social Security, Medicare, and defense spending. Almost everyone agrees it has to be done by next week to give Congress time to pass a bill.
In his interview Tuesday with President Barack Obama, CBS Evening News anchor Scott Pelley spoke with the president in the same room of the White House where former President Franklin Delano Roosevelt broadcast his fireside chats on the radio.
They discussed how it wasn't that long ago that compromise in Washington was considered a virtue and not a vice. MORE...
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