Obama to Hold ‘Fiscal Cliff’ Talks With Top Congressional Leaders
U.S. President Barack Obama is holding White House talks Friday with the top four congressional leaders as the deadline for avoiding the “fiscal cliff” fast approaches.
Obama will meet with Democratic and Republican Senate leaders Harry Reid and Mitch McConnell, Republican Speaker of the House John Boehner and Democratic House Minority Leader Nancy Pelosi.
If there is no deal by January 1, nearly every American will see his or her taxes go up, along with automatic government spending cuts. Economists fear this could plunge the fragile economy back into recession.
Congressional Republican leaders have also called the House back into session this Sunday evening. The House adjourned last week after failing to agree on a fiscal cliff deal with the White House.