Congress Returns To Looming Fiscal Cliff [VIDEO]

They are two words you're going to hear a lot: fiscal cliff. And Congress returns today to deal with the looming financial mess.

FOX News Radio's Jared Halpern reports from Capitol Hill:

Audio clip:

Congressional leaders won't meet with President Obama until Friday, though both Republicans and Democrats are drawing lines in the sand.

House Speaker John Boehner reiterating the GOP won't back tax rate hikes for any taxpayer. Democrats are pushing for rates to go up on the highest income earners. But Republicans have hinted at other forms of revenue increases.

So far, little talk on off-setting more than a trillion dollars in automatic spending cuts, half targeting defense.

On Capitol Hill, Jared Halpern, FOX News Radio.

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