Obama says immediate action needed on ‘fiscal cliff’

Associated Press

Friday, Dec. 28, 2012 | 3:24 p.m.

WASHINGTON — President Barack Obama says "the hour for immediate action is here" on a deal to avert the fiscal cliff.

The president says he remains "optimistic" that an agreement can be reached in Congress before a looming year-end deadline to avoid tax increases and spending cuts.

If Congress can't reach a deal, the president says Congress should allow a vote on a basic package that would preserve tax cuts for middle-class Americans while extending unemployment benefits for the long-term jobless and working toward a foundation for a broader deal.

The president says an hourlong meeting Friday with congressional leaders was "good and constructive."

Senate leaders say they hope to reach a compromise that could be presented to lawmakers by Sunday, little more than 24 hours before the deadline.

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By longun45 (Anthony Wright)

Dec. 28, 2012

9:37 p.m.

Flag

NO action needed. Dems sounding like republicans. Go figure. Higher taxes for all. It's the American way. Just ask your fearless leader. The one who would stab you in the back for a quarter.