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Both Parties Posture As Fiscal Cliff Nears [AUDIO/VIDEO]

Everyone is watching Washington as lawmakers from both sides continue to struggle dodge the fiscal cliff, those expiring tax cuts and spending cuts that could plunge the economy back into the void.

House Speaker John Boehner (Alex Wong, Getty Images)

Well, at least, Senate Majority Leader Democrat Harry Reid and House Speaker Republican John Boehner agree on one thing.

Reid said, “This is no time for delay.”

Boehner added, “There’s a real danger of going off the fiscal cliff.”

Meanwhile, businesses, employers, you and I continue to wait for word there’s an agreement on this.

New Jersey Retail Merchants Association head John Holub says, “This fiscal cliff is just another episode that retailers and all of industry have to deal with.”

He says the economic environment has been such a big question mark since 2008. Holub says, “For every two steps we have taken forward, we have taken a step back.”

Democrats want higher taxes for the rich. Republicans says they want to see spending cuts with real substance.

Republican Congressional leaders are suggesting that the White House is moving further away from a deal, by failing to outline specific spending cuts that could be made. Democrats say it’s up to the Republicans to do that. Treasury Secretary Tim Geithner was on Capitol Hill Thursday to meet with Republican leaders there.

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