U.S. President, House speaker discuss "fiscal cliff"

U.S. President, House speaker discuss

PanARMENIAN.Net - For the first time in days, President Barack Obama and House Speaker John Boehner spoke by phone Wednesday, Dec 5, about the "fiscal cliff" that threatens to knock the economy into recession, raising the prospect of fresh negotiations to prevent tax increases and spending cuts set to kick in with the new year, The Associated Press reported.

Officials provided no details of the conversation, which came on the same day the president, hewing to a hard line, publicly warned congressional Republicans not to inject the threat of a government default into the already complex issue.

"It's not a game I will play," Obama told a group of business leaders as Republicans struggled to find their footing in talks with a recently re-elected president and unified congressional Democrats.

Among the Republicans, Sen. Tom Coburn of Oklahoma became the latest to break ranks and say he could support Obama's demand for an increase in tax rates at upper incomes as part of a comprehensive plan to cut federal deficits.

Across the Capitol, House Majority Leader Eric Cantor said Republicans want to "sit down with the president. We want to talk specifics." He noted that the GOP had made a compromise offer earlier in the week and the White House had rejected it.

Officials said after the talk between Obama and Boehner, R-Ohio, there was no immediate plan for a resumption of negotiations to avert the cliff. At the same time, they said that for the first time in a few days, at least one top presidential aide had been in touch with Republicans by email on the subject.

Each side has been declaring that the crisis can be averted if the other will give ground.

"We can probably solve this in about a week, it's not that tough," Obama said in lunchtime remarks to the Business Roundtable.

 Top stories
The project aimed to assist the country in improving financial management and efficiency of the government’s activity.
Australian PM Tony Abbott said leaders would discuss job creation, identifying tax cheats and strengthening the global economy.
This is the second in a series of three DPOs, supporting the government of Armenia in meeting its strategic objectives.
Earlier this week, the bank's board met following last month's stress tests and approved a €2.5bn rights issue in order to plug the gap.
Partner news