Obama, Congress at an impasse on fiscal cliff

In January, Bush-era tax cuts expire and across-the-board spending cuts kick in. The clock is ticking and Congress appears no closer to compromise.

Senate Minority Leader Mitch McConnell (R-KY) drove that point home during a speech on the Senate floor on Tuesday.

""I read this morning that the president plans to hit the road next week to drum up support for his own personal approach to the short- and long-term fiscal challenges we face.

"In other words, rather than sitting down with lawmakers of both parties and working out an agreement, he is back on the campaign trail -- presumably with the same old talking points that we are all quite familiar with," McConnell said.

Steve Ellis, vice president of Taxpayers for Common Sense, discussed the impasse on Capital Insider.