Obama to meet with Republicans, Democrats to try and reach deal
Posted:
Updated:
CHICAGO (FOX 32 News) -
Democrats and Republicans will try to put the election behind them this week as Congress tries to come up with a deal to cut the federal debt and raise taxes.
President Obama will meet with business, labor and congressional leaders on both sides of the aisles to try to reach a deal on the so-called "fiscal cliff" that is coming at the end of the year.
Both sides say they want a deal, but seem to be holding to some of the same positions that caused the crisis in the first place.
"No Republican will vote for higher tax rates," Sen. Lindsey Graham (R-SC) said. "We will generate revenue from eliminating deductions and loopholes, but we will insist our democratic friends reform entitlements - something we've never done and that's where the big money's at."
"There's money to be gained by closing some of these loopholes and applying them to deficit reduction," David Axelrod said. "So I think there are a lot of ways to skin this cat - so long as everybody comes with a positive, constructive attitude toward the task."
If the two sides can not reach a deal by Jan. 1, we will face billions in tax increases and spending cuts that many economists believe will lead to a new recession.
Anthony Weiner's run for a renaissance is officially on.
In running for mayor, Anthony Weiner is seeking to get past the tawdry-tweeter punch line that has dogged him since his congressional career imploded two years ago. And while he's facing an uphill sprint, his campaign...
Wednesday, May 22 2013 8:53 AM EDT2013-05-22 12:53:15 GMT
Illinois' congressional delegation has asked President Obama to add 16 Illinois counties to the list of those eligible to receive disaster aid after last month's flooding.
Illinois' congressional delegation has asked President Obama to add 16 Illinois counties to the list of those eligible to receive disaster aid after last month's flooding.
Monday, May 20 2013 5:52 PM EDT2013-05-20 21:52:14 GMT
Gov. Pat Quinn said Illinois lawmakers have a chance to make history on two fronts this month by approving a plan to fix the state's decades-old pension crisis and legalizing same-sex marriage.
Gov. Pat Quinn said Illinois lawmakers have a chance to make history on two fronts this month by approving a plan to fix the state's decades-old pension crisis and legalizing same-sex marriage.
Monday, May 20 2013 3:05 PM EDT2013-05-20 19:05:27 GMT
Former White House social secretary Desiree Rogers has been appointed to head the board of a government-supported nonprofit that promotes Chicago as a tourism and convention destination.
Former White House social secretary Desiree Rogers has been appointed to head the board of a government-supported nonprofit that promotes Chicago as a tourism and convention destination.
Republicans call them "scandals." Democrats call them "fishing expeditions." Whatever the case, the Obama administration finds itself trying to fix three big problems this week. FOX's Bret Baier reports.
Republicans call them "scandals." Democrats call them "fishing expeditions." Whatever the case, the Obama administration finds itself trying to fix three big problems this week. FOX's Bret Baier reports.
