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President obama and congress to agree on avoiding a combination of higher taxes and Government Spending cuts, the president today said he wont extend tax cuts for people who dont need them. That hard line came during a White House Press conference just as a negotiations with Republican Leaders get underway to avoid the fiscal cliff. As darren gersh reports from washington, even before republicans and democrats sit down to talk on friday, both sides are laying down markers. Reporter just two days before he meets with congressional leaders, the president took a tougher tone on budget talks. In his news conference, he pushed hard for an immediate extension of tax cuts for everyone making less than 250,000 a year. And by the way, that means every american, including the wealthiest americans get a tax cut. It mean ....
Tom with 47 days left for president obama and congress to agree on avoiding a combination of higher taxes and Government Spending cuts, the president today said he wont extend tax cuts for people who dont need them. That hard line came during a White House Press conference just as a negotiations with Republican Leaders get underway to avoid the fiscal cliff. As darren gersh reports from washington, even before republicans and democrats sit down to talk on friday, both sides are laying down markers. Reporter just two days before he meets with congressional leaders, the president took a tougher tone on budget talks. In his news conference, he pushed hard for an immediate extension of tax cuts for everyone making less than 250,000 a year. And by the way, that means every american, inuding the wealthiest american ....
Fix will involve tax hikes of some sort, and spending cuts as well. We spoke with economist dean baker from the center for economic and policy research, and economist Douglas Holtz eakin of the American Action forum. N. B. R. s Washington Bureau chief darren gersh began the discussion by asking baker what tighter federal policy will mean for the economy in the coming year. Insofar as we get austerity, we get tax increases, spending cuts, thats going to slow the economy. I anticipate a deal so we are dont see the full, you know, 500 billion tax increases 100 billion spending cuts but whatever we do see in tax increases, spending cuts will be a drag on growth which is really not what we would see. If i had my choice we would have more stimulus, more tax cuts, more spending, boost the economy. Are we headed for europeans ....
Fix will involve tax hikes of some sort, and spending cuts as well. We spoke with economist dean baker from the center for economic and policy research, and economist Douglas Holtz eakin of the American Action forum. N. B. R. s Washington Bureau chief darren gersh began the discussion by asking baker what tighter federal policy will mean for the economy in the coming year. Insofar as we get austerity, we get tax increases, spending cuts, thats going to slow the economy. I anticipate a deal so we are dont see the full, you know, 500 billion tax increases 100 billion spending cuts but whatever we do see in tax increases, spending cuts will be a drag on growth which is really not what we would see. If i had my choice we would have more stimulus, more tax cuts, more spending, boost the economy. Are we headed for europeans ....
Congressional leaders who emerged later to say they want to move quickly to prevent automatic spending cuts and tax increases from tanking the economy at the first of the year. But as darren gersh reports, what we are not yet clear about is whether either side is willing to give up enough to get the job done. Reporter in washington, they think carefully about the pictures they want to present to the public so this mattered. All four congressional leaders democrats and republicans after meeting with the president chose to face the cameras together. That hardly ever happens and it reflects the new postelection mood of cooperation. House Speaker John Boehner called the meeting very constructive. I outlined a framework that deals with reforming our tax code and reforming our spending. And i believe the framework that ive outlined in our meeting today is consistent with the president s call for a fair and balanced approach. Repor ....