Congress is used to working against a deadline. 

But the task of averting more than $600 billion in tax hikes and spending cuts in less than a week is daunting even by Washington standards -- though as usual, the predicament is the product of lawmakers' failure to act sooner. 

Coming out of the Christmas holiday, all sides are voicing hope that the pressure of a Jan. 1 deadline will at last yield an agreement on the looming fiscal crisis. But few are spelling out exactly how that might happen.

An administration official told Fox News it is now "likely" the president will fly back to Washington late Wednesday night.

Earlier, a senior Obama administration official, speaking to reporters in Hawaii on the sidelines of President Obama's family vacation, had said there was a "high chance" the president would return to Washington later in the week, though nothing is set in stone. Officials cited a "unanimous desire" on Capitol Hill, with a few exceptions, to avert the doomsday scenario of income tax hikes, investment tax hikes, defense cuts and a cut-off in long-term unemployment aid all at once. 

But over the long holiday weekend, it seemed as if not a creature was stirring on the fiscal crisis front. 

A spokesman for House Speaker John Boehner said the president and the speaker did not talk over the weekend. Representatives for the Republican and Democratic Senate leaders both said Monday they had "nothing" to report. 

It's hard enough to write and pass a comprehensive budget bill in a matter of days -- let alone try to do it without a roadmap. 

The options for averting the crisis dwindled last week after Boehner abruptly pulled his "Plan B" proposal from the floor, citing a lack of Republican support. That bill, though fiercely opposed by Democrats, would have extended current tax rates for all but those making over $1 million. 

The move, though, also effectively sidelined talks between Boehner and Obama toward a broader compromise agreement.