President Obama said in a press conference today that 'Time is running out' for Washington to pass the payroll tax cut and unemployment extension. With a bill ready to sign, the democrats and republicans can not find middle ground.

In today's press conference, Obama cited specific letters he had received on how much of a difference $40 a paycheck makes to people across the country. He said that "To republicans, $40 a week might not be that much money, but to average Americans trying to stretch a budget, it makes a difference".

Democrats want the Senate bill to be passed ASAP and to return to the negotiating table next year to hammer the details out on the full extension. After today's press conference and push for these republicans to pass this senate extension, we will see if a compromise is made.

John Boehner's stance is that if there is no-one to negotiate with, then "Nothing" can happen. They need to bring someone to the table to ensure that something is passed to keep these taxes from going up. It was even stated that "We're pet-friendly here. ... he can bring his dog up here."  referring to Obama's shopping trip with his dog.

"The fact is we can do better," Boehner said of the Senate bill.