A POSSIBLE STEP BACK FROM "THE CLIFF"

Nov 16, 2012

By Michael Kramer

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An important note of optimism today in Washington.

U.S. congressional leaders are expressing confidence they can reach a deal with President Barack Obama to head off the so-called “fiscal cliff” and the risk of a new recession.

After a session with Obama the top members of the House and Senate weighed- in on America’s financial future. 

House Speaker John Boehner and Senate Minority Leader Mitch McConnell both said they offered higher taxes as part of a deal,  and Boehner outlined a framework that is consistent with Obama’s call for a balanced approach of both higher revenue and spending cuts.

Stocks on Wall Street rose after the meeting.

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