Leaders Call 'Fiscal Cliff' Meeting 'Constructive'
November 16, 2012
Congressional leaders emerged Friday from the White House saying their initial meeting on the “fiscal cliff” with President Obama had been a “constructive” first step.
The lawmakers offered no details on their discussions to avert major tax hikes and spending cuts that could cripple the economy in January, but Republican leaders signaled a flexibility on higher taxes while Democrats said they could agree to spending cuts.
In a signal to financial markets that have fallen precipitously since Obama’s election last week, Speaker John Boehner (R-Ohio), House Minority Leader Nancy Pelosi (D-Calif.), Senate Majority Leader Harry Reid (D-Nev.) and Senate Minority Leader Mitch McConnell (R-Ky.) expressed confidence they would reach a deal.