SAVANNAH GUTHRIE, NBC NEWS: When is the last time the president sat down with Congressional leaders to try to work out some kind of compromise to avoid this?
VALERIE JARRETT, WHITE HOUSE: Well as you saw at the end of the last year, we made a great deal of progress. We were so close, Savannah. The president and Speaker Boehner were really just moments apart in reaching a deal and unfortunately, Republicans were unwilling to do the deal we proposed.
The president proposed a balanced approached, one that includes both spending cuts as well as rate increases and that’s the way we have to get ourselves to a healthy budget.
GUTHRIE: Have there been any recent meetings along those lines?
JARRETT: Well, there haven’t. We had the issue at the end of last year, and over the last few weeks we’ve been preparing and gearing up.