Video: Barack Obama: I'm modestly optimistic we can reach deal on 'fiscal cliff' US President Barack Obama said that he was "modestly optimistic" that Congress could agree on a last-minute deal before January 1 to avert a fiscal crisis in the new year. He comments followed meetings with congressional leaders on a "fiscal cliff" deal which the President said were "good and constructive." The American people are watching what we do here. Obviously their patience is already thin," Mr Obama said. He added that Washington should not level a "politically self-inflicted wound" at the economy. However, if a deal cannot be made before the January 1 deadline, the President said that Congress should allow a vote on a basic package that would preserve tax cuts for the middle-class while extending unemployment benefits for the long-term jobless and working toward a foundation for a broader deal.