Friday, October 9th11.3°C

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


Recent Trending

Today's Market
S&P TSX13964.36-14.30
S&P CDNX552.26+5.20
S&P 5002014.89+1.46
CDN Dollar0.7723-0.0001
Natural Gas2.52+0.02

Okanagan Companies
Pacific Safety0.225-0.005
QHR Technologies Inc1.25+0.02
Metalex Ventures0.07+0.02
Russel Metals21.26-0.29
Copper Mountain Mining0.66+0.05
Colorado Resources0.07+0.00
ReliaBrand Inc0.0175+0.0009
Sunrise Resources Ltd0.02+0.00
Mission Ready Services0.075-0.005
Decisive Dividend Corp3.25+0.14
Diamcor Mining0.97+0.03



1765777 3833 Brown Road, West Kelowna, V4T 2J3
2 bedrooms 2 baths
more details
Click here to feature your property
Please wait... loading

Income for life?

Photo: Thinkstock.comIn almost every conversation I have with clients these days, the topic swings to interest rates. What direction they’re going, how long will they stay where they are and how...

Perfect (reno'd) home

Photo: Thinkstock.comHow many times have you found a home in the perfect location, but it needs too much work as per the home inspection? There is a great program available through most lenders that w...

5 Claim misconceptions

Photo: Thinkstock.comIf you have been hurt in an accident or as a result of medical negligence you will likely look to your friends and family for some advice on how to deal with the situation. These ...



Member of BC Press Council