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

gliderdriver Wrote: Dec 29, 2012 9:57 AM
Obama just does not get it. But the markets do. The DOW tanked 100 points after it was clear that nothing changed Friday afternoon, and the futures on Saturday morning are already down 250. The last day of 2012 might be a stock market day to remeber. Of course the whole thing falls apart if interest rates go back to the normal 4.5 to 5.0 % range, and cost of the Nation's debt goes up 5 fold. Markets understand that as well.
Marc_H Wrote: Dec 29, 2012 10:02 AM

obama wants to US to fall
he is a commie liar and traitor

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...