House Speaker John Boehner lashed out Friday at President Barack Obama, saying negotiations to avoid the "fiscal cliff" are "almost nowhere."
Boehner spoke after Republicans disclosed that the White House was $1.6 trillion in tax increases up front, as well as $50 billion in additional stimulus spending. (Read More: Speaker Boehner Discusses 'Fiscal Cliff.' )
Boehner said the plan would be a "crippling blow" to an economy that is still struggling to find its footing.
"There's a stalemate. Let's not kid ourselves," the Ohio Republican told reporters. "Right now, we're almost nowhere,"
Even so, he added, he was determined to continue working with Obama.
A half-trillion-dollar combination of governmental spending cuts and tax increases for all Americans would automatically go into effect in January, threatening to send the country back into recession. Obama is pressing for an extension of Bush-era tax cuts only for individuals making less than $200,000 or families making under $250,000. He wants a tax increase for the wealthiest Americans.
A tax increase on middle class families would be like a "lump of coal" for Christmas, Obama said Friday during a campaign-style visit to a toy factory in Pennsylvania.Page 1 of 4 | Next Page