Countdown to the Fiscal Cliff – Dec 13, 2012

December 13, 2012 in U.S.

“In the five weeks since we’ve signaled our willingness to forge an agreement with the president, he’s never put forth a plan that meets these standards. And frankly, it’s why we don’t have an agreement today.” – House Speaker John Boehner, on a proposal that offers a balance between higher tax revenue and spending cuts promised by the president. (From an interview –cnn.com)

From the White House:

Implausible that “We can somehow magically achieve significant revenue on the order that we need for that balanced deficit reduction package simply by closing loopholes that they will not name or capping deductions that they will not specify sometime in the future.” – Spokesman Jay Carney. (From an interview –cnn.com)

Any deal would have to be drafted and thereafter approved by Congress, so the politicians must resolve the issue by Christmas Day.

Time is running out.

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