Budget Negotiations: Obama Reaches Out to Both Parties

The president takes his "charm offensive" to Capitol Hill, trying to get parties to strike a deal.
1:32 | 03/12/13

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Transcript for Budget Negotiations: Obama Reaches Out to Both Parties
president obama takes his charm offensive to capitol hill today. His latest personal diplomacy to get republicans and democrats to strike a deal on the budget. Abc's jon karl is at the white house and the president reaching out but both parties drawing lines in the sand and new republican budget coming from paul ryan. Reporter: In a sign of how much work there is to be done paul ryan's budget will have almost nothing that democrats like. It does balance the budget in ten years without any tax increases, george, but we're talking deep spending cuts, even deeper than the sequester and he repeals the president's health care law so obviously a n nonstarter with democrats, but, george, then watch tomorrow. Senate democrats will have their own budget. It's going to include big tax increases and no balance so really the two sides just as far apart as ever when it comes to their budget. As to the president's dinner last week with republican senators some did seem to suggest they might be open to having some new revenues that the president would also come around with more reforms and the big entitlement programs. Do you get a sense of any common ground developing? Reporter: Well, a little bit, george. I don't want to overstate it, but I have to tell you, I've heard republicans, senior republicans, real conservatives for the first time in a long time saying things that are fairly positive about the president. One, senate republican called it tremendously sincere, this outreach so we'll see. Obviously a big mountain to climb here. Jon, thanks very much. I'll head to washington in a bit to sit down with president obama. That exclusive interview will air tonight on "world news" with more on "gma" and "nightline."

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

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