Fiscal Cliff Talks Continue; Hard Bargaining Ahead

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(AP)  THE HARD BARGAINING MAY STILL BE AHEAD, AS PRESIDENT BARACK OBAMA AND CONGRESSIONAL LEADERS LOOK FOR WAYS TO AVOID THE “FISCAL CLIFF” OF TAX HIKES AND SPENDING CUTS IN JANUARY.

AFTER TALKS YESTERDAY ON CAPITOL HILL INVOLVING TREASURY SECRETARY TIM GEITHNER, REPUBLICANS COMPLAINED THAT THE DEMOCRATS WEREN’T OFFERING SPECIFIC IDEAS FOR SPENDING REDUCTIONS.

THE WHITE HOUSE, MEANWHILE, SAID A HIKE IN TAX RATES FOR THE TOP-EARNING AMERICANS IS A MUST-HAVE FOR ANY BUDGET DEAL.  PRESIDENT BARACK OBAMA MAKES A PITCH FOR THAT PLAN IN THE PHILADELPHIA AREA TODAY. WHITE HOUSE OFFICIALS BELIEVE THE TRIP WILL BUILD MOMENTUM FOR OBAMA’S CASE, EVEN AS REPUBLICANS HAVE DESCRIBED IT AS AN IRRITANT AND AN OBSTACLE TO FRUITFUL TALKS.

OBAMA WILL TOUR AND SPEAK AT A MANUFACTURING FACILITY, SHOWCASING THE COMPANY AS AN EXAMPLE OF A BUSINESS THAT DEPENDS ON MIDDLE-CLASS CONSUMERS DURING THE HOLIDAY SEASON.

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