Friday, December 7, 2012

No progress report on 'Fiscal cliff'

Capitol Hill Boehner reports no progress on fiscall cliff with deadline in three weeks.

U.S. House Speaker John Boehner said on Friday that stalemate persisted in the fiscal negotiation with President Barack Obama, and he demanded that the president provide a new offer to avert the "fiscal cliff."

“This isn’t a progress report because there’s no progress to report,” Boehner, R-Ohio, told reporters at a news conference from the Capitol this morning. “When it comes to the fiscal cliff that’s threatening our economy and threatening jobs, the White House has wasted another week.”

At a Capitol Hill news conference, Boehner accused Obama of adopting "a deliberate strategy to slow-walk" the economy toward the edge of automatic spending cuts and tax hikes.

With the "fiscal cliff" deadline only about three weeks away, the Democrats and Republicans remained deadlocked on how to avoid it. Obama continued to insist on higher tax rates for top earners while Republicans pressed for spending cuts in entitlement programs.


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