Boehner: White House Risks Fiscal Cliff Stalemate [VIDEO]
House Speaker John Boehner says the White House is so resistant to cutting spending that it is risking pushing the country off the "fiscal cliff."
In remarks he prepared to deliver to reporters on Thursday, the Ohio Republican says President Barack Obama has not been serious about controlling spending, which Republicans say is the source of government's budget deficit problems. Boehner says Obama wants far more in tax increases than on spending reductions, and says the president's refusal to control spending is why talks between the two men have failed to reach an agreement so far.
Wide-ranging tax increases and spending cuts will begin to take effect in January — the so-called fiscal cliff — unless Obama and congressional Republicans work out a deficit-cutting agreement to avert them.
Pelosi says time running out for fiscal cliff deal
House Democratic Leader Nancy Pelosi says a deal must be reached "in the next couple of days or the very beginning of next week" to avoid the fiscal cliff of automatic tax hikes and spending cuts.
The California Democrat criticized Republican House leaders for sending lawmakers home on Thursday, saying they should stay in Washington and work on a solution. Last week, most House members left town on Wednesday.
Pelosi said, "Here we are once again having a two-day work week in the Congress of the United States."
Negotiations appear at standstill over President Barack Obama's insistence that tax rates increase for top earners. House Speaker John Boehner has agreed to increased tax revenue through reducing or eliminating unspecified tax breaks. But Boehner opposes raising tax rates.
(Copyright 2012 by The Associated Press. All Rights Reserved.)