white house as the president and congressional leaders try to avoid tax hikes on the 0% of all americans and deep spending cuts that economists warn could plunge us into another recession. welcome to a brand new hour of "america live". imheather childers. gregg: i'm gregg jarrett. we're in for megyn kelly. a live look at the white house where president obama and house and senate leaders will make a last-ditch effort to try to reach a deal to avert an imminent fiscal crisis. this meeting between the president and congressional leaders is their first since november 16th. really? and they are just meeting now more than a month later. a few days before all the tax increases and spending cuts will kick in. we will all obviously feel the pain if that happens. ed henry, is live at the white house. ed? >> reporter: gregg, it is hard to understate how critical this meeting will be. one of the president's top democratic allies on capitol hill, max baucus, the