President Obama Predicts Passage Of Tax Cut Deal03:00
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"Nobody — Democrat or Republican — wants to see people's paychecks smaller on Jan. 1 because Congress didn't act," President Obama said on Thursday. (Pete Souza/Official White House Photo)
"Nobody — Democrat or Republican — wants to see people's paychecks smaller on Jan. 1 because Congress didn't act," President Obama said on Thursday. (Pete Souza/Official White House Photo)

President Obama says that he's confident the $855 billion deal he reached with Republicans to temporarily extend Bush-era tax cuts will pass in Congress.

"Nobody — Democrat or Republican — wants to see people's paychecks smaller on Jan. 1 because Congress didn't act," he said in an interview with NPR.

But many Democrats are opposed to the deal and are threatening to bring it down.  We speak with Rick Klein, senior Washington editor for ABC World News, and host of the ABC News political webcast “Top Line.”

This segment aired on December 10, 2010.

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