Obama calls leaders for Friday talks in effort to reach fiscal cliff breakthrough (meeting @3:00)

[Ellipsis]

Last edited Fri Dec 28, 2012, 12:31 AM - Edit history (3)

Source: The Guardian

Barack Obama will meet congressional leaders on Friday as members of the House of Representatives prepare to return to Washington for a last-ditch attempt to head off the year-end fiscal cliff budget crisis.

Republican speaker John Boehner said the House will reconvene on Sunday evening, with less than 30 hours until the US reaches the fiscal cliff deadline. Boehner warned politicians they may be working through next Friday – after the 31 December deadline – to reach a deal to avert massive tax hikes and spending cuts.

The decision to call House members back came after fierce criticism from Democrat Senate leader Harry Reid, who earlier in the day had accused Republicans of "watching movies" while the budget crisis deepened.

Obama arrived in Washington on Thursday after cutting short his Christmas vacation to Hawaii, and the Senate also returned to work.

Read more: http://www.guardian.co.uk/world/2012/dec/27/obama-friday-talks-fiscal-cliff

---

See Tx4obama's post #6

[Joey Liberal]

1. The republicans don't want a deal

The GOP would rather throw the country under a rightwing bus than make a deal.

[high density]

2. I am more comfortable with nothing

rather than expecting this Congress to actually do something helpful, especially in this short amount of time.

[Doctor_J]

3. This sounds ominous

I hope he doesn't rush into something bad. NO CUTS FOR WORKING PEOPLE

[plethoro]

4. That's what he'll do...........no doubt.

dddddd

[Botany]

5. If republicans don't want a deal it is on them

http://www.democraticunderground.com/10022078830

[Tx4obama]

6. White House announces POTUS & VPOTUS to meet with Boehner Pelosi Reid McConnell 3pm Friday

Andrea Mitchell @mitchellreports

White House announces POTUS VPOTUS meet with Boehner Pelosi Reid McConnell 3pm Friday time running out!

http://twitter.com/mitchellreports/status/284475297179500544

[Ellipsis]

7. They are going to cut a deal.... don't ya think?

They'll modify this.... any bets on how?


"Under the bill passed by the Senate, income tax rates for couples’ earnings of more than $250,000 would rise to 36 percent from 33 percent. Tax rates on income over about $390,000 would rise to 39.6 percent from 35 percent. The rate on most dividends and capital gains would rise to 20 percent from 15 percent for income over $250,000.

Much of the fight on Wednesday centered on the estate tax, which the Senate legislation does not address. If nothing is done, the current estate tax — a 35 percent rate on inheritances worth more than $5 million, or $10 million per couple — would snap back to the rates under President Bill Clinton, 55 percent over $1 million, or $2 million per couple."

[SHRED]

8. What's next?

More offers of deeper and unnecessary cuts to Social Security?
$500K?

This has me concerned... considering.

[tclambert]

9. What leaders? The Republicans don't have a leader anymore.

The highest profile Republican right now, John Boehner, can't get his own loyal followers to actually, you know, follow him.