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Obama to Congress: The Time For Immediate Action on Fiscal Cliff is Now

brainmcfarlane Wrote: Dec 29, 2012 1:22 PM
If this so-called fiscal cliff is soooo bad than why was it put in place to begin with? This admin and congress treats us like were stupid. How about some REAL spending cuts not just cuts in projected growth of govenment? Instead what the pres wants is to spend more on unemployment. JUMP!

So how did the last-ditch fiscal cliff meeting go this afternoon? Not great. President Obama again put forth the scaled-back version of the proposal he pitched last week.

A source familiar with the meeting told CNBC that Obama was not making a new offer; just laying out what he thinks can pass the House and Senate. That includes keeping the tax cut for those making up to $250,000 and an extension of unemployment insurance for 2 million people. He will then ask the participants what they are willing to support, and if they don't have a counterproposal that...