Obama, Boehner's Own Words on Fiscal Cliff, Taxes
Nov. 9 (Bloomberg) –- U.S. President Barack Obama and House Speaker John Boehner, an Ohio Republican, state their positions on ways to avert the so-called fiscal cliff and the outlook for negotiations between the White House and congressional leaders.
If Congress doesn't act by the end of the year, $607 billion in automatic spending cuts and tax increases are scheduled to take effect starting in January. That was part of a deal last year to raise the federal debt ceiling. This report also contains comments from Federal Reserve Chairman Ben S. Bernanke. (Excerpts. Source: Bloomberg)