Obama Phones Boehner as Reid Urges Compromise on Capitol Hill

"Your statement, things stayed the same, is about as far off-base as you could be," Reid said. "We had an overwhelming re-election of the president. We picked up seats in the Senate. We picked up seats in the House. That's not the status quo."

While Boehner has hinted he prefers a short-term solution during the lame duck session, Reid expressed his inclination for a long-term deal especially while $109 billion of sequester cuts, which are mandated by the Budget Control Act, are set to take effect Jan. 2.

"The Republicans have to make the choice. We're willing to work something out. We're willing to work it out sooner rather than later," Reid said. "I'm not for kicking the can down the road. I think we've done that far too much."

"Waiting for a month, six weeks, six months – that's not going to solve the problem," he continued. "We know what needs to be done and so I think that we should just roll up our sleeves and get it done."

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