Last night, President Obama called for "a balanced approach" to addressing the nation's deficit that includes large spending cuts along with revenue hikes - including a halt to Bush-era tax cuts for families earning more than $250,000 a year.
House Speaker John Boehner showed no sign of moving off his party's opposition to any kind of increase in taxes, signaling that there is still a great divide amongst lawmakers about the correct way to address the nation's debt.
Today on American Morning, President Obama's top economic adviser Gene Sperling spoke with Ali Velshi about the possibility of a compromise in the debt-ceiling negotiations, appearing to remain optimistic despite the continuing impasse in negotiations.
"There is a lot of goodwill that I still believe exists in this country in Washington and we just need a basic, a minimum amount of compromise," Sperling, Director of the National Economic Council, told Velshi. "A minimum amount of not my way or the highway and we can get there easily this week."