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Wednesday, December 12, 2012

Fiscal Cliff Talks Drag On

The Capitol dome is seen on Capitol Hill in Washington, Tuesday, Dec. 11, 2012, as Congress works on avoiding the fiscal cliff.   (AP/J. Scott Applewhite)

The Capitol dome is seen on Capitol Hill in Washington, Tuesday, Dec. 11, 2012, as Congress works on avoiding the fiscal cliff. (AP/J. Scott Applewhite)

On Monday, President Obama offered to lower the amount of tax revenue he’d like to raise by increasing tax rates on the wealthy, and in an interview on ABC Tuesday night he hinted that he wouldn’t oppose a push to raise the retirement age from 65 to 67.

But on Tuesday, House Speaker John Boehner accused the President of ‘slow-walking’ negotiations to avoid automatic tax hikes and spending cuts that take effect in January, counter-offering with essentially the same plan he’s already floated: raising $800 tax revenue by closing tax loopholes and cutting $1 trillion dollars in government spending.

So are we any closer to a deal? Senate Majority Leader Harry Reid said, don’t expect one before Christmas.

Guest:


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