White House Touts 162,000 New Jobs, Concedes Recovery Will Be Slow

"Only one Republican, Sen. Corker, would step forward and negotiate with Chris Dodd," Specter said on Fox. Dodd is leading the Democrats' initiative in the Senate for financial regulatory reform.

Kyl did put forth some ideas: "If the president asked Congress tomorrow to give him a bill in a week that freezes all tax rates, doesn't even cut them, just holds them where they are and does not impose the $500-plus-billion in taxes in the health bill, I think you'd see the stock market skyrocket the next day because business would know that taxes will be stable and that they have the ability to raise capital and invest it in their businesses," Kyl said.

But whether a solution that is acceptable to both sides can be found is debatable, after the partisan rancor seen over health care reform.

Both Kyl and Spector say there are incentives to working together. Kyl said the majority of people support financial reform, whereas they do not support health care reform. And, Spector said, Republicans would face public discontent if they did not work with Democrats.

"Congress is in great disrepute by the American people, and with good cause, because of the gridlock of bipartisan bickering," Spector said. "And I think that many Republicans don't like to see their numbers go down," he said.

Surely, a prospect that neither party would like to see ahead of mid-term elections.

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