Featured Stories World News Commentary Money Watch Multimedia Prison Planet U.S. News Science And Technology

Obama, Boehner close gap on fiscal cliff deal, eye trillion-dollar tax hike

  • Print The Alex Jones Channel Alex Jones Show podcast Prison Planet TV Infowars.com Twitter Alex Jones' Facebook Infowars store

Neil Munro
Daily Caller
December 18, 2012

White House and congressional sources are reporting movement towards a jagged bundle of tax hikes and spending cuts that would avert January’s fiscal cliff.

But the deal may fall apart, partly because it calls for substantial sacrifices by each political faction.

It also may be insufficient to head off a financial crisis in the next few years, because it would still increase the federal government’s $16.3 trillion debt by up to another $7 trillion over the next 10 years.

The latest turn in the negotiations came Monday afternoon, when President Barack Obama offered House Speaker John Boehner a 10-year plan that boosts the federal government’s take of the national economy by roughly $1.3 trillion, while trimming spending by only $930 billion, according to GOP aides.

White House aides say the plan would increase taxes by $1.2 trillion, and cut spending by $1.2 trillion.

Full article here

This article was posted: Tuesday, December 18, 2012 at 6:52 am





Infowars.com Videos:

Comment on this article

Comments are closed.

Watch the News

FEATURED VIDEOS
What They're Not Telling You About Race Riots See the rest on the Alex Jones YouTube channel.

Did Obama Order National Guard to Stand Down in Ferguson? See the rest on the Alex Jones YouTube channel.

© 2013 PrisonPlanet.com is a Free Speech Systems, LLC company. All rights reserved. Digital Millennium Copyright Act Notice.