Political Headlines December 30, 2012: President Barack Obama Suggests on NBC’s Meet the Press Any ‘Fiscal Cliff’ Deal Would Be Small

POLITICAL HEADLINES

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OBAMA PRESIDENCY & THE 112TH CONGRESS:

THE HEADLINES….

Obama Suggests Any ‘Cliff’ Deal Would Be Small

Source: ABC News Radio, 12-30-12

SAUL LOEB/AFP/Getty Images

With less than two days remaining for Congress to reach a budget agreement that would avoid the so-called “fiscal cliff,” President Obama on Sunday suggested that a small deal remains the best hope to avoid the perilous package of spending cuts and tax increases.

In an interview aired Sunday morning on NBC’s “Meet the Press” the president said if Republicans agreed to raising taxes on top income earners it should be enough to avoid the triggers that would execute the $607 billion measure. Economists agree that going over the cliff would likely put the country back in recession.

“If we have raised some revenue by the wealthy paying a little bit more, that would be sufficient to turn off what’s called the sequester, these automatic spending cuts, and that also would have a better outcome for our economy long-term,” he said….READ MORE

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