President Obama tells Republicans he has "bent over backwards" for them and is open to their suggestions and will be there to consider them:

"I have bent over backwards to work with the Republicans to try to come up with a formulation that doesn't require them to vote sometime in the next month to increase taxes. What I have said is, identify a revenue package that makes sense, that is commensurate with the sacrifices we are asking other people to make and then I'm happy to work with you to figure out how else we might do it."