Can Republicans And Democrats Work Together To Avoid Fiscal Cliff?

Can Republicans And Democrats Work Together To Avoid Fiscal Cliff?

FILE - In this Wednesday, Oct. 31, 2012, file photo, a trader works on the floor at the New York Stock Exchange in New York. U.S. stock futures are mixed in light trading with attention fixed on the country's latest jobs report, a final glimpse at the employment landscape before the presidential election Tuesday. The economy is the top issue for voters in a very tight election race. (AP Photo/Seth Wenig, File)

Just days after securing four more years in the White House, President Obama faces a looming crisis, a budget deal by New Year’s Eve. ABC News White House Correspondent Ann Compton has more on whether republicans and democrats can work together.