President Barack Obama tasked the United States Senate with trying to resolve the "fiscal cliff" in the waning hours before the New Year following a meeting between congressional leaders and the president. Senate Majority Leader Harry Reid, D-Nev., and Minority Leader Mitch McConnell, R-Ky., will lead the last-minute effort to avert the automatic tax hikes and spending cuts set to take effect on Jan. 1 unless Congress acts. And Obama said he is "optimistic" they can reach an accord before midnight on New Year's Eve, the point at which the government would hit the fiscal cliff.
