Last ditch effort to avoid fiscal cliff under way

WASHINGTON (AP) — The end game at hand, the White House and Senate leaders launched a final attempt at compromise Friday night in hopes of preventing a toxic blend of middle-class tax increases and spending cuts from taking effect at the turn of the new year.

"I am hopeful and optimistic" of reaching an agreement after months of gridlock, the Senate Republican Leader, Mitch McConnell of Kentucky, said after a meeting with President Barack Obama and top congressional leaders at the White House.

AP Photo/ Evan Vucci

Senate Minority Leader Mitch McConnell, R-Ky. leaves the White Hou...