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

Mapache15 Wrote: Dec 29, 2012 3:25 PM
I am not sure I understand the headline. "The time for immediate action on the bill is now." How could it be any other time? You can't say, "Let's have immediate action tomorrow or how about next week"

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...