Fiscal Cliff Negotiations Deadline: Americans Voice Concerns

Jake Tapper reports the latest on the budget battle in Washington.
2:29 | 11/28/12

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Transcript for Fiscal Cliff Negotiations Deadline: Americans Voice Concerns
And now, the big deadline on the fiscal cliff, 34 days left for congress to make a deal, which will prevent taxes from rising on everyone. And all day, americans around the country were sending a message, telling washington to get to work and get a job done. Here's abc's senior white house correspondent jake tapper with the story. Reporter: President obama today continued his public relations push, surrounding himself with supporters who wrote the white house, saying they do not want to see a tax increase on the middle class. It's all part of a move to rachet up pressure on republicans in congress to reach a deal before the nation goes off the so-called fiscal cliff, which would increase taxes for the average family by $2,200. That means less money for buying groceries, less money for filling prescriptions, less money for buying diapers. It means a tougher choice between paying the rent and paying tuition. Reporter: But house republicans will not relent on their opposition to raising taxes on the wealthy. You're not going to grow the economy if you raise tax rates on the top. On the top two rates. It will hurt small businesses. It'll hurt our economy. Reporter: The latest abc news and "washington post" poll shows the public is with the president on this debate. 60% support raising taxes on incomes higher than $250,000. It's going to affect their standard of living very little, if at all, and -- the rest of us are being asked to pay for a party that we weren't invited to. Congress doesn't do anything, then -- I have a feeling that it's really going to be devastating for next year. Reporter: On other proposals, the poll shows the public is mixed when it goes to increasing revenue. But they do not want to see the medicare eligibility age go up from 65 to 67. It bothered to me when they say it's an entitlement, when we paid all these years when we were working. I think it's very difficult for people to reach a compromise, which is unfortunate, because the nation is what suffers. Reporter: Democrats are reluctant when it comes to reigning in entitlement programs, diane, such as medicare. But president obama today said he expects there will be a framework for a deal in the next couple of weeks and he hopes there will be a deal by christmas. And market analysts say a 100-point bump in the dow today was because of those optimistic comments by the president and similar ones by speaker boehner. Diane? Negotiations under way. Thank you so much, jake.

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

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