Fiscal Cliff Negotiations Halted for Christmas

David Kerley reviews the current state of budget talks in Washington.
2:38 | 12/22/12

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Transcript for Fiscal Cliff Negotiations Halted for Christmas
'S been a hectic week for you. We turn, now, to the fiscal cliff getting closer. Just ten days until everybody's taxes go up and spending cuts kick in. And washington's a ghost town with no deal in sight. Talks halted until after christmas, leaving just a few days to bang out some kind of plan before the deadline. Abc's david kerley has the latest from the white house. David, before leaving us on the holidays with his family, the president urged lawmakers to find some common ground for these coming days. But it doesn't seem to be happening right now. Reporter: The president in that same message, gave up on the big deal for right now. He wants a stop-gap measure to keep taxes from going up. And a framework for a deal next year. And the president's not in this house, either. This morning, the president arrived in his home state of hawaii for the holidays. Before leaving, he told members of congress to cool down. Have some eggnog and christmas cookies and come back and make a deal. Nobody can get 100% of what they want. And this is not simply a contest between parties, in terms of who looks good and who doesn't. There are real world consequences to what we do here. Reporter: While members of the house left town, there was a gridlock in front of a fireplace. I'm stuck in washington, trying to prevent my fellow kentuckians from having to shell out more money to uncle sam next year. Reporter: The president met with the democratic leader in the senate and house speaker john boehner. But it is a wounded speaker of the house, who was deserted by his fellow republicans when he tried to extend tax rates for everyone but millionaires. Are you quitting? Absolutely not. And we're prepared to come back, if needed. Reporter: A new abc news/"washington post" poll shows 53% of americans believe republicans need less conservative policies. More focused on the middle-class. For now, the halls of congress are empty until next thursday. Leaving us closer to taxes going up and massive spending cuts taking effect. Unless they can make a deal. How we get there, god only knows. Reporter: The president says, there's still a chance. Call me a hopeless optimist. But I still think we can get it done. Reporter: And the president wished everyone a merry christmas. Here's the problem, what the president's asking for now, the stop-gap measure is what boehner tried to get passed in the house on thursday. But he never brought that bill to the floor, knowing his fellow it. So, we have gridlock as we head to the holidays. Bianna and dan? Not encouraging hearing the speaker say god only knows. David kerley, thank you.

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

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