President, Congress meet to avert "fiscal cliff"

President Obama met with House Speaker John Boehner, Senate Majority Leader Harry Reid, Senate Minority Leader Mitch McConnell and House Minority Leader Nancy Pelosi on Friday morning to discuss how to avert the "fiscal cliff," the combination of tax hikes and spending cuts set to start kicking in at the end of the year.

It was the president's first meeting with Congressional leaders on the issue since his reelection, and follows presidential sit-downs earlier this week with corporate leaders and left-leaning interest groups seeking to shape the discussion.

"Today, the President met with the bipartisan, bicameral leadership of Congress at the White House for over an hour," the White House said in a statement. "The President and the leadership had a constructive meeting and agreed to do everything possible to find a solution that averts the so-called 'fiscal cliff,' and to work together to find a balanced approach to reduce our deficit that includes both revenues and cuts in spending and encourages our long-term economic and job growth. Both sides agreed that while there may be differences in our preferred approaches, we will continue a constructive process to find a solution and come to a conclusion as soon as possible."

Congressional leaders described the meetings positively as well, with Boehner calling it "very constructive." An aide to the House GOP leader told CBS News that "the Speaker said he believes 2013 should be the year we begin to solve our debt problem through tax reform and entitlement reform, and proposed that both parties work together to avert the fiscal cliff together in a manner that ensures 2013 is that year. He proposed that both parties commit to working toward a framework for tax and entitlement reform in 2013 that sets revenue and spending levels."

Reid, meanwhile, said "We have the cornerstones of being able to work something out. We're both going to have to give up some of the things that we know are a problem."

Play Video

Obama on fiscal cliff talks: We have "urgent business to do"

Mr. Obama appeared to be in good spirits prior to the meeting, publicly congratulating Boehner on the fact that tomorrow is his birthday. ("We're not going to embarrass him with a cake," the president joked, "because we didn't know how many candles were needed.") But no amount of good cheer will make it easier for the two men to bridge their considerable differences without angering elements of their own party and base before the Dec. 31 deadline.

The most glaring difference involves allowing the Bush-era tax cuts expire on family income above $250,000, which would raise rates above that level from 35 percent to 39.6 percent. Mr. Obama campaigned on allowing those cuts to expire for the highest-earners, and he stressed the issue in a news conference Wednesday. He has called on Congress to immediately pass legislation to extend the Bush-era tax cuts for the 98 percent of Americans who make below that threshold. Without action, tax rates will increase for nearly all households at the end of the year. White House press secretary Jay Carney said this week that the president "will not sign, under any circumstances, an extension of tax cuts for the top 2 percent of American earners." Mr. Obama's opening salvo was to increase taxes on the wealthy and corporations by $1.6 trillion in conjunction with unspecified spending cuts.

Republicans are also publicly standing by their position, though there have been some cracks in the united front. "What we won't do is raise tax rates," McConnell said Thursday. Boehner has offered a conciliatory tone and said he is open to revenue increases, but argues that they should come from reforms to the tax code such as closing loopholes - the same position he held before the election. He says that raising rates on the wealthiest Americans would hurt small business and cause harm to the economy, a contention that is up for debate. Republicans are seeking major changes to entitlement programs, which they consider the chief driver of the deficit and debt.

Yet Gov. Bob McDonnell, R-Va., and former Gov. Haley Barbour, R-Miss., said this week that Republicans need to be open to raising tax rates on the wealthy in the wake of an election in which the "people have spoken," in McDonnell's words. Another influential Republican, Weekly Standard editor William Kristol, said last Sunday that "It won't kill the country if we raise taxes a little bit on millionaires."

• no previous page
• next

1/2

[bobw101]

RepubliCon_Liar_RobMe replies:

First of all, you have me confused since I never once made a statement about Bush's monitoring of American citizens' telephone calls, so I dare you to prove where I, in particular, said that, ignorant Republi-minion.

LMAO!... Second, listening to American citizens' telephone calls ON U.S. SOIL.... is a hell-of-a-lot of different from authorizing the drone killing of some terrorist in ANOTHER COUNTRY.

------------------------------------------------------

My mistake for confusing you with someone else. Are you saying that killing an American citizen and then going back 2 weeks later and killing his 16 year old son is no big deal? Oh by the way Obama is listening to those same calls, he also signed into law and then fought in court for indefinite detention of American citizens with no due process in court and also has a secret kill list with American citizen names on it that he feels he can take out whenever he pleases.

[bobw101]

RepubliCon_Liar_RobMe replies:

LOL!.....the only problem with your argument there, ignorant Republi-minion, is that I can care less about ANY presidents ability to make such decisions and, personally, never complained about Bush's authority to make such decisions as our nation's Commander-in-Chief of the military.

But, I do find it hilarious how "ideologue" ignorant Republi-minions like you have all of a sudden adopted the "liberal mindset" in you complaints about such matters, now that a Democrat is in the White House. LOL!... it's so easy to "flip" an ignorant Republi-minions brain whenever a Democrat is in the White House.
--------------------------------------------------

Yeah ok, first you say I am a crazy conspiracy theorist, (and yes you were complaining about Bush listening to people's telephone calls) so I show you that you are dead wrong, now It doesn't matter to you because I have shown you that Obama is every bit as evil as Bush was. Our President, no matter who it is, a donkey or elephant does not have the Constitutional authority to assassinate American citizens. I have not adopted anything, I believe I have a Constitutional stance on the issue, you on the other hand are the one who has flipped (maybe we should call you Willard) because you are an ideologue. Oh BTW, the last Republican I voted for was daddy Bush in 1988.

[mjvwsr]

Fiscal cliff; bring it on, lets do it

[hillzagain]

GOP-R--Con-Men replies:
linkicon reporticon emailicon
Hillz,

Some how I don't picture you objecting to republican teabaggers portraying President Obama as Hitler. But you fake outrage at the use of nazi with Boner?
___________________________
Post a single reference I have ever posted or agreed with that "portrayed" obama as hitler. I'll save you some time (I haven't), although I like the idea of a blind liberal partisan hack scrabbling and sifting through old threads vainly searching for it.

And "outrage" is a little extreme - I leave the contrived outrage and overly dramatic BS to the greedy little liberal pigs who want someone to take hard earned money from others who are smarter, more talented and more successful than they are since they don't have the ability to make money themselves.

Keep punching your time=chit con, maybe someday the government will come in and do what you evidently can't manage yourself. But don't hold your breath LOL

[jstmyview]

Eric Cantor is still da Biggest "Weasel in Politics".

John Boehner is One Real Big " Wuzzy".

Wouldn't Mitch McConnell make da Perfect "Turtle Head"?

You BetCha....Fer Sure.

[bobw101]

RepubliCon_Liar_RobMe replies:

LOL! More "conspiracy theory" junk...a clear sign of ignorant Republi-minion "derangement syndrome" disease, caused by TOO MUCH FOX NEWS!

Bob... seek help immediately!

(hehehehehe!)

-------------------------------------------------------

Look I can't help that you are an ideologue hack, but these are well known facts that come from mainstream sources. It's funny when Bush did the evil he did ideologues like you screamed bloody murder but now that Obama does even greater evil you just put your head in the sand and ignore it. BTW here are some sources:

http://www.nytimes.com/2012/05/31/opinion/too-much-power-for-a-president.html?_r=0

http://www.politico.com/blogs/media/2012/06/klaidman-forced-times-kill-list-story-125480.html

http://news.antiwar.com/2011/10/18/out-to-dinner-us-assassination-in-yemen-killed-teens/

http://www.newyorker.com/online/blogs/comment/2012/05/the-presidents-kill-list.html

http://www.huffingtonpost.com/2012/09/14/ndaa-case-indefinite-dentention_n_1885204.html

http://www.democracynow.org/2012/9/18/obama_admin_appeals_ndaa_ruling_in

http://www.salon.com/2012/09/17/obama_fights_for_indefinite_detention/

No conspiracies here just facts.

[KPeters_from_UK]

I find the below quote very poignant:

"If you don't want tax dollars helping the sick and poor, then its time to stop saying you want a government based on Christian values" --- John Fogelsang.

[bobw101]

Our government is based on the Constitution not a religion. I think it is quite obvious both parties hate the Constitution and have for many years.

[hillzagain]

I don't see anybody dying in the streets right now. The day I see the Federal Government spending our money effectively is the day I stop taking all the tax deductions I can.

[tsigili]

Obama has never compromised on anything. I don't expect him to now, either.

[KPeters_from_UK]

Everytime, everytime. Your head is buried in the sand, sweetie. Just who is known as the Do nothing Congress? Who has conducted the most filibusters?

[jstmyview]

Isn't it Amazing, you always hear the Republicans and TeaBilly Politicians Threatening to Reduce or Stop Payment on Unemployment, Social Security, Medicare, Food Stamps, Military Pay, Student Loans, Benefits , Etc. But have you ever heard of them Threatening to Reduce or Stop any of Their Pay, Healthcare and all the other Special Perks they receive (Paid for by our Tax $$$$$$$).

Lets break this down in simple terms. Republican TeaBilly Conservative = Self Righteous Hypocrite.

[jstmyview]

Folks just Remember,

Anything Boehner, Cantor, or McConnell Do will have an Evil, Hidden Agenda against the "Middle Class".

Republican TeaBilly Conservatives only Believe in "Middle Class Warfare' and Protecting da Wealthy and Corporations.

It won't be long till they show their True Colors.

You BetCha.....Fer Sure.

[twmat311]

Where has Cantor disappeared to? Are he and Palin in seclusion, planning their 2016 coup?