On ABC's This Week Sunday, host George Stephanopoulos asked Treasury Secretary Tim Geithner about a report that Senate minority leader Mitch McConnell "burst out laughing" when Geithner told McConnell the Obama adminstration's proposal to avert the fiscal cliff. Geithner avoided the question.

"Boy, it sure sounds like those meetings you had on Capitol Hill this week did not go very well," Stephanopoulos said. "Senator Mitch McConnell told THE WEEKLY STANDARD that he burst into laughter when he heard your proposal, and we just heard Speaker of the House John Boehner said, let's not kid ourselves, there's a stalemate. So is there a stalemate, and did Mitch McConnell really laugh out loud when he heard your proposal?"

"George, I actually think we're going to get there," Geithner responded. "I mean, you know, there's inevitably going to be a little bit of political theater in this context. Sometimes that's a sign of progress. I think we're actually making a little bit progress, but we're still some distance apart. But, you know, what's at stake here is very important. What we're trying to do is not just to prevent a tax increase on 98 percent of Americans, and there's no reason why we can't do that. But we're trying to go beyond that and make sure we're doing something that's going to be good for the long-term future of the American economy. And I think we have a chance to do that."

Watch the video below:

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