WASHINGTON (AP) - A year-end deadline approaching, negotiations to avoid an economy-rattling "fiscal cliff" appeared at a standstill Monday. Republicans pressed President Barack Obama to name specific spending cuts he will support, while the White House insisted the GOP agree explicitly to raise tax rates on upper incomes.
At a campaign-style event in Michigan, Obama warned his listeners their taxes will rise on Jan. 1 without action by the Congress. "That's a hit you can't afford to take," he declared.
He spoke one day after meeting privately at the White House with House Speaker John Boehner, whose office expressed frustration with the talks to date.
"We continue to wait for the president to identify the spending cuts he's willing to make as part of the 'balanced' approach he promised the American people,'" said a written statement from the Ohio Republican's office. Keep on reading...
Tuesday, December 11, 2012
Subscribe to: Post Comments (Atom)
Post a Comment