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Zones anl come to the white house ready to make a deal on the debt ceiling. jim angle has an update. >> president obama told reporters he is calling voters to the white house for another round of talks seeking what balan a balanced approach. >> we need to look at spending fon defense programs entitlement programs and we need to take on spending in the tax code, spending on certain tax breaks and deductions for the wealthyest of americans. >> they need trillions in savings they didn't specify further. they need to invest in the future in terms of spending programs. if no bigger deal is possible...

Medicare are in trouble. the fact that they have only dealt with frif ral matters foas nt moon that is where it will end up. this is a significant and credible deficit reduction effort. standard and a poors has to look at it and say these guys are going to take us in a different direction in order to get the votes to raise the debt ceiling. >> chris: you said what the democrats have to give in this and they have to agree which is politically substantial to them. tuts to domestic spending programs. what are republicans going to have to give? >> it has to be a bipartisan compromise. i outlined w...

It will have to be a significant and credible deficit reduction effort and will have to standard -- standard & poor's has to look at that and say, wow these guys are going to take us in a different direction and in order to get the votes to raise it. >> chris: you basically said what the democrats have to give in this and they have to agree, which is politically tough for them. to substantial cuts in domestic spending programs, including entitlements which they have resisted over the years, and what will republicans have to give, because i think you would agree, to get a big agreement, to avoi...

Medicare are in trouble. the fact that they have only dealt with frif ral matters foas nt moon that is where it will end up. this is a significant and credible deficit reduction effort. standard and a poors has to look at it and say these guys are going to take us in a different direction in order to get the votes to raise the debt ceiling. >> chris: you said what the democrats have to give in this and they have to agree which is politically substantial to them. tuts to domestic spending programs. what are republicans going to have to give? >> it has to be a bipartisan compromise. i outlined w...

Man on the left, sam misleh, he represents some of the struggling small business owners who employ the bulk of americans, and they pull in just enough, $250,000, each year, to potentially get hit with the same tax as superwealthy americans. if the president has his way james rosen is live in washington with their story. hi james. >> reporter: good morning. when president obama announced his plan to tackle america's debt crisis he proposed a mix of cuts in spending programs and tax hike by allowing the bush-era tax cuts to expire for the top income bracket, that means individuals making more th...