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No "substantive" progress made on fiscal cliff: Boehner

House Speaker John Boehner said on Thursday that no substantive progress has been made to avoid the "fiscal cliff" of spending cuts and tax hikes that will start to go into effect early next year if Washington does not act.

 

US economy grew at 2.7 percent rate in summer

The U.S. economy grew at a 2.7 percent annual rate from July through September, much faster than first thought. The strength may fade in the final months of the year if Congress and the Obama administration fail to reach a budget deal.

 

Obama says debt-cutting deal can be reached soon

President Barack Obama said Wednesday he believes that members of both parties can reach a "framework" on a debt-cutting deal before Christmas, making his case with a mix of optimism and pressure on congressional Republicans to keep tax rates from rising on the middle class.

 

Obama to appeal to public on fiscal cliff

President Barack Obama plans to make a public case this week for his strategy for dealing with the looming fiscal cliff, traveling to the Philadelphia suburbs Friday as he pressures Republicans to allow tax increases on the wealthy while extending tax cuts for families earning $250,000 or less....

 

States Want to Have Say During Talks Over Budget

Jack Markell

As many states continue recovering from the recession, governors say they fear that talks to avert the so-called fiscal cliff will actually lead to deep cuts.

 

Bernanke warns Congress to avoid 'fiscal cliff'

Federal Reserve Chairman Ben Bernanke on Tuesday urged Congress and the Obama administration to strike a budget deal to avert tax increases and spending cuts that could trigger a recession next year.

 

Democrats stiffen spine against trimming benefits

President Barack Obama's re-election has stiffened Democrats' spine against cutting popular benefit programs such as Medicare and Social Security. Their new resolve could become as big a hurdle to a deal that would skirt crippling tax increases and spending cuts in January as Republicans' resistance to raising tax rates on the wealthy.

 

Two-part 'fiscal cliff' deal taking shape

Fiscal Cliff

The outline of a compromise over upcoming federal tax hikes and spending cuts began to come into focus Friday after President Obama convened congressional leaders at the White House.

 

Obama Meeting Top Lawmakers in Tough Deficit Talks

Congressional leaders of both parties will meet with the president in an effort to reach a deal to avoid across-the-board tax increases and spending cuts that could push the economy into recession.

 

Relaxed yet feisty, Obama lays out second-term agenda

...In his first full-scale news conference since March, Obama said he was willing to compromise with Republicans to forge a deal on the nation's debt and taxes to avoid the "fiscal cliff," a combination of budget cuts and tax increases that will kick in next year if such an agreement is not reached.

 

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