Obama, Boehner meet at White House on "fiscal cliff" |
| Reuters - Dec 17, 2012 |
U.S. President Barack Obama and John Boehner, the top Republican in Washington, met at the White House on Monday to try to reach a budget deal that would head off steep tax hikes and spending cuts that could push the economy into recession next year.
The 45-minute meeting is a further sign that talks to avert the "fiscal cliff" could be yielding progress after weeks of stalemate.
Boehner, the speaker of the Republican-controlled House of Representatives, has edged closer to Obama's demand to raise taxes on the wealthiest Americans. But the two sides have yet to make headway on tough issues on entitlements, like the Medicare health insurance program for seniors.
Boehner has agreed to a tax increase for those earning over $1 million annually, while Obama wants that threshold set at $250,000. His offer knocks down a key Republican road block, and the question now boils down to what Obama will offer in return.
The two sides face a deadline of December 31, when $600 billion in across-the-board spending cuts and tax hikes are due to kick in.
Read Full Article from Reuters
- Posted: 2012-12-17 12:51:15
| More Stock Investor Place Top Stories |
 |
|
|
|
| Stock Investor Place Top Stories Archive |
|
|
|
