Leaders express hope fiscal cliff will be averted
Top congressional leaders emerged from a meeting with President Obama at the White House on Friday trying to project bipartisan confidence that they would break through gridlock to avert a potential economic catastrophe triggered by budget cuts and increased taxes.
Following an hourlong meeting at the White House, the four top congressional leaders stood by one another outside the West Wing, taking turns calling the meeting ‘very constructive.’ Stocks on Wall Street briefly surged, with renewed optimism that a chief economic roadblock would be removed.
‘It was good,’ said House minority leader Nancy Pelosi. ‘I feel confident that a solution may be in sight.’
Both sides seem to be looking at the same roadmap — Republicans now concede that they will agree to increase tax revenues, and Democrats say they will agree to more spending cuts — but they are still divided over which route to take.