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May 21, 2013 -- Updated December 20, 2012 01:09 HKT

Obama Calling for Deal by Christmas on Fiscal Cliff


paul@livetradingnews.com
Posted on: Dec 20th, 2012

Obama Calling for Deal by Christmas on Fiscal Cliff

US President Obama says he offered congressional Republicans a “fair deal” during budget talks and accused them of “posturing” in negotiations.

“I have gone at least half way” and Republicans need to “take the deal” I offered, the president said today at the White House. “I would like to get it done before Christmas.”

Mr. Obama said his plan is “as large a piece of deficit reduction as we have seen in 20 years” and would stabilize the federal debt and deficit for a decade. He said the proposals he and House Speaker John Boehner have advanced are “pretty close.”

Early Wednesday, Mr. Obama’s spokesman Dan Pfeiffer said the president will veto a tax proposal that Mr. Boehner plans to put to a House vote as early as tomorrow.

No talks have occurred between the White House and congressional Republicans since Messrs Boehner and Obama met on 17 December, administration officials said in a briefing for reporters Wednesday.

Brendan Buck, a Boehner spokesman, said the White House’s opposition to Mr. Boehner’s plan “is growing more bizarre and irrational by the day.”

In an e-mailed statement, Mr. Buck said if Democrats “disapprove of this bill, then there is a simple solution: Amend it in the Senate and send it back to the House.”

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 Paul A. Ebeling, Jnr.

Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster’s Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.

Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.

 

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