House Democratic Leader Nancy Pelosi warned on Thursday of a “missed opportunity” if 12 designated lawmakers fail to reach a deal to cut $1.2 trillion from future U.S. federal budget deficits over 10 years.

Reaching a deal by the Nov. 23 deadline will boost confidence in the Congress nationally, abroad and in the financial markets, she said.

"Knowing how important this agreement is, the message that it will send to the world, to the markets, to the American people (and) the confidence it will be build -- it will be a missed opportunity if we do not do this," Pelosi told reporters. "It behooves all of us to be open as possible."

"It behooves all of us to be open as possible,” she said.

A New York Times/CBS News poll released on Tuesday found that only 9 percent of Americans approve the way Congress is handling its job. The poll found only 10 percent of people always or most of the time think they can trust government in Washington to do what is right.

One unidentified lobbyist told Reuters that Republican leaders wanted the process to work and is pushing to reach a consensus.

A congressional aide told the news agency that Sen. Majority Leader Harry Reid felt it would be impossible to reach a deal “without serious movement on revenues.”