Monday, September 22nd19.2°C
23284
22916

Obama negotiates over fiscal cliff

President Barack Obama urged the leaders of Washington's divided government on Friday to join him in "tough compromises" to keep the U.S. economy from plummeting and taxes from rising for millions of Americans in the new year.

"I think we're all aware that we have some urgent business to do," Obama said at the White House with the nation's top Republican, House Speaker John Boehner, at his side. Sitting to the president's other side was the Senate's leader, Democrat Harry Reid, as negotiations over the "fiscal cliff" began in earnest.

Without a deal between Obama and Congress, a series of tax increases and spending cuts will kick in on Jan.1, with potential to throw the nation into recession. All sides have a deep political stake in coming to terms, but Obama and Republicans in Congress are at a stalemate on raising taxes on incomes over $250,000.

On his turf, Obama made the only statement before reporters were asked to leave the Roosevelt Room.

Obama used the moment before the TV cameras to try to set a tone of compromise, right down to the body language. Obama ribbed Boehner about his birthday on Saturday, saying he would not embarrass the speaker with a cake because he was not sure how many candles would be needed.

"Yeah, right," a smiling Boehner said as the two literally poked some fun at each other and then shook hands.

The Canadian Press


Read more Business News

21337


Recent Trending




Today's Market
S&P TSX15129.00-136.35
S&P CDNX928.09-26.97
DJIA17172.68-107.06
Nasdaq4527.689-52.10
S&P 5001994.29-16.11
CDN Dollar0.9056-0.0001
Gold1215.10-2.80
Oil91.50-0.91
Lumber327.00+0.40
Natural Gas3.897-0.011

 
Okanagan Companies
Pacific Safety0.17+0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.27-0.10
Cantex0.04-0.01
Anavex Life Sciences0.2195-0.0035
Metalex Ventures0.05-0.01
Russel Metals35.37-0.38
Copper Mountain Mining2.40-0.26
Colorado Resources0.16-0.005
ReliaBrand Inc0.0206-0.0043
Sunrise Resources Ltd0.02-0.005
Mission Ready Services0.27-0.02

 



22908

FEATURED Property
19965551532 Marina Way, Kelowna, British Columbia
1 bedrooms 1 baths
$990,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Is this a fair offer from ICBC?

“Is this a fair offer from ICBC?”…. “How much should I settle for?”… “What is my claim worth?” These are just some of the questions I regularly get as...


Disruptive innovation

Last night I was privileged to be able to speak at the Greater Westside Board of Trade business awards dinner. Photo: ContributedI talked about Innovation and Collaboration which are two very interes...


Executors and their duties

There will be a time when you will need to decide who you should appoint as executor of your Will. As well, there may be a time when you will be asked by someone to act as the executor of his or her W...

_





23499


Member of BC Press Council


22620