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November 26, 2012

Obama speaks to Boehner, Reid on fiscal cliff

President Obama spoke to House Speaker John Boehner and Senate Majority Leader Harry Reid this weekend as lawmakers continue to talk about how to avert the so-called fiscal cliff.

Obama met with congressional leaders at the White House more than a week ago before he departed for a four-day trip to Asia. The White House declined Monday to say whether any more meetings are scheduled with members of Congress, though the president continues to talk to business, labor and civic leaders.

"We remain confident we can reach an agreement," Press Secretary Jay Carney told reporters at the White House Monday, even while Senate Minority Leader Mitch McConnell was on Capitol Hill talking about an impasse.

Carney said he "weclcomed" the statements by several Republicans that indicated that they had backed away from a strict no-tax inctease pledge, including Sens. Saxby Chambliss and Lindsey Graham and Rep. Peter King.

A series of tax increased cuts are slated to take effect as the result of a bipartisan deal struck last year to raise the nation’s debt ceiling. The first $109 billion, including $55 billion in defense reductions, are set to take effect in January unless Congress and the president acts.

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Linda

As far as I have read on CNN Money news, they did not come to one agreement regarding tax cuts. I mean what specifically is going to be cut and what increased. And here is stated that first tax change is going to take its effect on January of the following year. Well, it is hard to follow everything. I also wonder how our citizens are going to react to new reform ( depending on how effective they are going to be of course)

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