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President Obama Spoke Late Friday Afternoon About Fiscal Cliff

President Barack Obama spoke late Friday afternoon about the fiscal cliff following a meeting with Congressional leaders.

He talked about the urgency of the situation.

The President said he had a "good and constructive" meeting with Congressional leadership and said he is optimistic an agreement might be able to be reached in time. He said that agreement is being worked on at this time.

But, the President said, if the agreement is not reached, he will push for a basic package to be brought to the floor for an up and down vote to try to prevent some of the issues.


The White House says President Barack Obama plans to make a statement following a meeting with congressional leaders on the fiscal cliff.

Obama met Friday for about an hour with House Speaker John Boehner, Senate Republican leader Mitch McConnell, Senate Majority Leader Harry Reid and House Democratic leader Nancy Pelosi.

The White House is trying to build support for a proposal it presented a week ago, when Obama urged lawmakers to preserve tax cuts for most Americans while letting rates rise on incomes above $250,000 a year. At the same time, Obama wants lawmakers to extend unemployment benefits for the long-term jobless.

Both sides are trying to prevent a toxic blend of middle-class tax increases and spending cuts from taking effect at the turn of the new year.


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