Obama speaks on “Fiscal Cliff” talks four days before deadline

President Barack Obama wrapped up a press conference this afternoon discussing the details of fiscal cliff negotiations just four days before the deadline on January 1.

Obama said during the speech, "the hour for immediate action is here. It is now." The President also says the most recent talks with congressional leaders were "good and constructive."

A pressing point was that without a deal from lawmakers, Obama will demand a vote on his own plan on the Senate floor. Senate Majority Leader Harry Reid and Republican Mitch McConnell say they are looking to Sunday to have a plan ready, just two days before the cliff.

The fiscal cliff is an automatic end to a series of Bush-era tax cuts and also involves deep budget cuts across the board.

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