New 'Fiscal Cliff' Negotiations Still in Stalemate

President Obama and Speaker John Boehner are leading negotiations to curtail drastic budget cuts.
1:31 | 12/07/12

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Transcript for New 'Fiscal Cliff' Negotiations Still in Stalemate
We have the latest on the fiscal cliff, just 25 days before everyone's taxes go up and every government program is cut. There were some baby steps yesterday. Both sides got together for the first staff-level talks in a week. And jon karl is covering the countdown from capitol hill. Jon, they're trying to keep a close hold on these talks. But you learned that the meeting did not go all that well. Reporter: That's right, george. First, it was a significant step forward that they actually met. Astounding this was a week without talks. But yesterday, you did have top aides to the president, top aides to the speaker of the house, come together. Bu told by people familiar with the meeting, that it ended with the two sides just as far apart as they were before the meeting. The white house said there will be absolutely no deal until republicans agree to raise rates and give an indefinite right to borrow money. Republicans said no way on both counts, unless they get bigger concessions than what the white house has offered on spending. It's still a stalemate. What is going on here? We saw the pictures of the president and speaker boehner. This is about those two men right now. If they can come to a deal, it's going to get through. Reporter: Absolutely. And right now, both seem to have strong support from their parties. Others aren't in the room. YOU DON'T SEE mitch McConnell or nancy pelosi. You see john boehner, the speaker of the house, and the president. We're going to have all the latest of all the week's politics, sunday on "this week." James carville, and mary matalin join our powerhouse roundtable. Now, to the latest scare for

This transcript has been automatically generated and may not be 100% accurate.

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