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

Manny41 Wrote: Dec 29, 2012 8:43 AM
And, since we have been told for the past 4 years that the Bush tax cuts were only for the rich, why would it matter if the tax rates go up? Did Obama lie to us about who benefited from the Bush tax cuts?

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...