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Boehner Says Week Wasted in Talks to Avert Fiscal Changes

U.S. House Speaker John Boehner and President Barack Obama appear no closer to a budget agreement with three weeks left to avert more than $600 billion in spending cuts and tax increases.

Obama this week insisted that no deal is possible without letting income tax rates rise for high earners, while Boehner said the administration needs to get “serious” about spending cuts.