Obama just gave a speech outlining his plan to address the "fiscal cliff." He says it has to be balanced, and that any compromise must have both spending cuts and new revenues or he won't accept it. He also called for an immediate extension of the Bush tax cuts for people making less than $250K, which has already passed in the Senate. He called on the House to take action, saying "I've got a pen, and I'm ready to sign it." He said this would eliminate uncertainty for 98% of taxpayers and 97% of small businesses.
UPDATE: Markets react poorly, pulling back sharply from today's earlier gains.
UPDATE: Transcript of Obama's remarks...
- Traffic deaths expected to have hit troubling milestone (1 reply)
- Swedes confused/angered by Trump remark (4 replies)
- LWV local news media forum (6 replies)
- The Great Backyard Bird Count is underway (4 replies)
- Concerns linger over future of AMSE after land transfer (1 reply)
- McCain Defends a Free Press: ‘That’s How Dictators Get Started’ (2 replies)
- Nearly one-third of TN high schoolers graduated without all course requirements in 2015 (4 replies)
- U.S. House sanctions hunting hibernating bears, wolf pups in their dens (2 replies)
- Trump's Cabinet (101 replies)
- What's Going On? An update about road and greenway projects across Blount County (2 replies)
- NYT: The 'Caddyshack' President (6 replies)
- Trump's NatSec advisor Michael Flynn resigns (20 replies)
- Feb 22 2017 - 12:00pm (1 day 3 hours from now)
- Feb 23 2017 - 6:00pm (2 days 9 hours from now)
- Feb 27 2017 - 7:00pm (6 days 10 hours from now)