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Old 11-14-2012, 04:11 PM
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Default $1.6 Trillion? Obama Doesn't Want a Deal President Barack Obama has responded to Hous

$1.6 Trillion? Obama Doesn't Want a Deal

President Barack Obama has responded to House Speaker John Boehner's gesture last week towards reaching a deal to avoid the Jan. 1 "fiscal cliff" of tax hikes and spending cuts, putting a specific demand on the table: $1.6 trillion in new tax revenues, reached by raising tax rates on the wealthy in addition to other "tax revenues." The offer is twice as high as a deal Obama scuttled last year, suggesting he may be prepared to let talks fail again.
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