Exasperated US lawmakers push for fiscal cliff deal | Pakistan Today

Exasperated US lawmakers push for fiscal cliff deal

Exasperated US lawmakers warned Thursday they were no closer to a deal with the White House to avert severe tax hikes and austerity measures, as talks threatened their Christmas break. With the US economy lurching toward the so-called “fiscal cliff,” House Speaker John Boehner, the top Republican negotiator, again blamed President Barack Obama for the impasse and demanded concessions on spending. “It’s clear that the president is just not serious about cutting spending. But spending is the problem,” Boehner told reporters, insisting that tax increases alone will not resolve the US fiscal crisis.
“The president wants to pretend that spending isn’t the problem — that’s why we don’t have an agreement.” Boehner resorted to visual props to hammer home his point, with a graph chart showing the supposed trajectory of public spending in coming decades if no further cuts are made. “Here we are at the 11th hour, and the president still isn’t serious about dealing with this issue right here,” he said, tapping at the chart. “If the president will step up… I think we can do some real good in the days ahead.” Obama has lowered to $1.4 trillion his opening gambit of seeking to raise $1.6 trillion in new tax revenue over 10 years.

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