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'Cliff' talks: Geithner invites GOP counteroffer

President Obama is ready for difficult concessions to reach a deficit deal, but GOP lawmakers must first commit to higher tax rates on the rich and specify what additional spending cuts they want in a deal to avoid the looming "fiscal cliff," Treasury Secretary Timothy Geithner said.

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Source: Geithner failed to pay personal taxes

AP - Treasury secretary designee Timothy Geithner is meeting with senators to discuss why he failed to pay personal taxes and check the immigration status of a housekeeper. An official with President-elect Barack Obama's transition office says Geithner answered senators' questions during a meeting he requested Tuesday.

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