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Deal washington will be working all weekend in hopes of reaching an agreement. peter doing in washington. >> dave: are they working today? >> staff level >> clayton: he said he gave them a day and a half. if you don't get something done in a day and a half. we will put it up for straight up or down vote. >> at the white house he didn't offer new plan. tweaked the plan that he laid out last friday which is a stop gap measure to prevent us from going off the fiscal cliff some are calling it plan c since plan a and boehner's plan b went nowhere. extend middle class tax rates. senate might want to...

Long the market will tolerate that uncertainty. so, what if no deal is reached and no action is taken? >> well, heather, i actually believe that might be the best outcome of all. when we look at it, there's not really a cliff. what happens on wednesday morning, the first day of the year, we'll roll out of bed and put the gasoline in our car and go to work. so there's not going to be a big change immediately. there will be an increase in taxes, something that's already been agreed to. you know, 12 years ago they agreed to the bush tax cuts would have a sunset provisions and the cuts to spending...

Million dollars he wanted originally. plan c extend unemployment benefits for the 2 million people who would lose them in two days if we go off the fiscal cliff and plan c would also delay some spending cuts but it would not touch president obama does think this plan would pass both the house and senate if it got an up or down vote. he told the senate they had a day or two to make a deal on their own. if they're not making any progress he wants both chambers to bring this plan forward for up or down vote. speaker boehner apparently was noncommittal to that idea. it's important to point out tha...

Taxes. they can come in and easier to negotiate with them. what the president, what we are hearing about what the president is proposing though, is a small deal to get them through the fiscal cliff so that it avoids some of the implications, some of the more damaging implications for the economy. i don't think the fiscal cliff honestly is really going to have a huge impact. our housing market and labor market remained firm and i think they can survive this. but i do think that though, that if the president does offer this smaller deal i think there's opportunity here, though it is probably sli...

Them to get his attention? >> well we've got, we've got some sanctions in place, unilateral ones. they failed three times in the security council because of russian vetoes. i don't see at this point given the aid iran and russia continue to give assad that more sanctions directed against syria are really going to change the disposition of the battle inside the country at the moment. jamie: this story develops by the hour. anything can happen. we'll keep our viewers posted. thank you, ambassador bolton. good to see you. looking forward happy new year. >> happy new year, jamie. jamie: kelly? kel...