House Speaker John Boehner says he's no longer determined to repeal President Obama's health-care law, now that Obama has won re-election. "ObamaCare is the law of the land," Boehner told ABC News on Thursday. Boehner also said Republicans would consider new sources of revenue as part of a bipartisan deficit-reduction deal to avoid the so-called fiscal cliff, a wave of automatic tax hikes and spending cuts due to hit Jan. 1, but that hiking tax rates on the rich is "unacceptable" because it would prevent small-business owners from creating jobs. The Congressional Budget Office countered by reporting that going over the fiscal cliff would send the economy back into recession, but raising income tax rates for the wealthy would barely do any damage. Obama is delivering a statement on the economy at 1:05 p.m. Friday.
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