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Fiscal Cliff: 54 Days Until $7 Trillion Tax Hike
In 54 days, $7 trillion in tax hikes and spending cuts over the next decade will automatically go into effect. If America goes over this "fiscal cliff," experts say the already rickety U.S. economy could implode. To avert the economic calamity, on Wednesday Speaker John Boehner offered President Barack Obama a "bridge" to help the nation safely cross the fiscal cliff. "Mr. President, this is your moment. We're ready to be led--not as Democrats or Republicans, but as Americans," said Mr. Boehner. "We want you to lead, not as a liberal or a conservative, but as president of the United States of America." Mr. Boehner said he sought "common ground" with Mr. Obama and was open to "new revenues.": "In order to garner Republican support for new revenues, the president must be willing to reduce spending and shore up the entitlement programs that are the primary drivers of our debt." Posted by: Au Auric 2012-11-10 |
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