U.S. House of Representatives Speaker John Boehner called on President Obama Tuesday to propose a plan to avert the end of the year “fiscal cliff” that could garner enough votes to pass in congress.
"The American people sent us here to work together towards the best possible solution and that means cutting spending. If the President doesn't agree with our approach, he's got an obligation to put forward a plan that can pass both Chambers of the Congress. Because right now, the American people have to be scratching their heads and wondering when is the President going to get serious."
White House Press Secretary Jay Carney said in response that the President has already issued detailed plans outlining spending cuts and revenue increases.
"if there is one fact that should not be in dispute it ought to be this -- the President unlike any other party to these negotiations has put forward detailed spending cuts as well as detailed revenue proposals."
The “cliff” being averted is a combination of tax increases and significant and broad cuts to government spending. Both will take effect early next year. According to the Congressional Budget Office, if the country were to go over the “fiscal cliff” the U.S. economy would slip back into recession.
Source: Reuters
