Wednesday, April 23rd11.8°C
21633
20972

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

20344


Recent Trending




Today's Market
S&P TSX14533.39-22.58
S&P CDNX1010.986.10
DJIA16501.65-12.72
Nasdaq4126.967-34.491
S&P 5001875.39-4.16
CDN Dollar0.9065+0.0001
Gold1284.60+0.40
Oil102.15-2.22
Lumber331.20-0.40
Natural Gas4.762+0.032

 
Okanagan Companies
Pacific Safety0.115+0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.22+0.01
Cantex0.05+0.005
Anavex Life Sciences0.38-0.005
Metalex Ventures0.080.00
Russel Metals31.30+0.13
Copper Mountain Mining2.33-0.05
Colorado Resources0.27+0.01
ReliaBrand Inc0.11+0.03
Sunrise Resources Ltd0.025-0.005
Mission Ready Services0.250.00

 





FEATURED Property
1859894#206-980 Glenwood Avenue
2 bedrooms 2 baths
$224,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


On living and dying

Our ability to live beyond our years has nothing to do with medical science; we will all live longer than our physical bodies, each of us will leave behind a personal legacy made up of our deeds, our ...


Learning to flirt with the edge

With all of the adventure activities I have done and still do, I wonder sometimes if the edge still exists. The systematic approach to learning a new adventure or extreme activity combined with the r...


Time spent prospecting

How much time should you put into prospecting? The question is a bit of a puzzle. Ideally, there would be a reference book that lists, by industry, how much time you should invest in prospecting acti...

_





20956


Member of BC Press Council


20573