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Fiscal Cliff: John Boehner Says President Obama Is Still Not Serious

Source: Michael McAuliff / The Huffington Post

WASHINGTON — House Speaker John Boehner (R-Ohio) said on Tuesday that President Barack Obama still has not gotten serious about dealing with the impending “fiscal cliff,” saying the White House has yet to offer anything that can pass muster with the GOP.

The fiscal cliff is the combination of mandatory budget cuts and tax increases that is set to kick in at the start of next month.

Democrats and the president intend to maintain the lower Bush-era tax rates for nearly all of the country, while letting them increase for the top 2 percent of earners, covering income above $250,000. Republicans are insisting that all the tax cuts remain in place.

In Obama’s most recent offer, the White House suggested raising some $1.6 trillion in taxes, while cutting about $400 billion from Medicare and investing more cash in economic stimulus.

To read this article in its entirety visit The Huffington Post.

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