WASHINGTON (CBS) - Speaker of the House John Boehner says Republicans and Democrats are at a stalemate in the fiscal cliff negotiations. And Sunday probably did little to change anything as both sides appeared on the Sunday morning talk shows with hard line stances about what they will and will not accept in a deal.

The White House is already decorated for the holidays, but the mood in Washington is anything but festive.

If Congress doesn't act, America will ring in the new year with $110 billion in spending cuts and a $500 billion tax increase leaving the average household with nearly a $3,500 hangover.

Treasury Secretary Timothy Geithner was here on Capitol Hill last week to present the president's plan to Congress. Boehner says, "I was flabbergasted. I looked at him and said, 'you can't be serious.'"

President Obama wants $1.6 trillion in new taxes on the rich, $400 billion in cuts to entitlement programs such as Medicare, and $50 billion in stimulus spending. Boehner says, "The president and the White House have had three weeks and this is the best we've got?"

Senate minority leader Mitch McConnell laughed at Geithner during their meeting last week. So now, Giehtner says if Republicans here don't like the president's plan, it's up to them to present their own ideas. He says, "What we can't do is sit here and try to figure out what works for them, they have to tell us what works for them."

But Secretary Geithner made it clear; there will be no deal that doesn't include a tax hike on the wealthiest Americans. He says, "There's not going to be an agreement without rates going up."

No formal negotiating sessions are on the schedule here and many believe it will take about a week for the real work toward a solution to get underway.

House minority leader Nancy Pelosi says she'll try to force a vote today on a Senate passed bill that Democrats support. However, she's unlikely to get enough Republican support to get the bill to the House floor.

Read or Share this story: