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Thu Dec 6, 2012, 12:09 AM

Obama sees fiscal deal in a week if Republicans move on taxes [View all]

Source: Reuters

President Barack Obama told business leaders on Wednesday that a "fiscal cliff" deal was possible within about a week if Republicans compromise on taxes, and he warned lawmakers he would not engage in another debt ceiling standoff.

Obama, speaking to the Business Roundtable group of chief executives, said Republican leaders in Congress had to accept the reality that tax rates must rise on the wealthiest Americans to achieve a fiscal deal.

"We've some movement in the last several days among some Republicans, I think there's a recognition that maybe they can accept some rate increases as long as it's combined with serious entitlement reform and additional spending cuts," he said.

"If we can get the leadership on the Republican side to take that framework, acknowledge that reality, then the numbers actually aren't that far apart. Another way of putting this is we can probably solve this in about a week. It's not that tough," Obama said.



Read more: http://www.reuters.com/article/2012/12/05/us-usa-fiscal-obama-idUSBRE8B40UW20121205

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Reply Obama sees fiscal deal in a week if Republicans move on taxes [View all]
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