President Obama on Tuesday told a group of progressive and liberal leaders that he would not budge on his campaign promise to raise taxes on high-income earners. Obama met with the group ahead of high-wire negotiations with Speaker John Boehner over a deal to cut the deficit, which has taken on great urgency coming just weeks before the so-called fiscal cliff. Scheduled to take effect at end of the year, the fiscal cliff will see all the Bush tax cuts expire and introduce a raft of new spending cuts, which most economists have described as a recipe for disaster. It remains to be seen, however, whether Boehner and his Republican caucus will agree to raising taxes on the rich.
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
- China's leader is telling the People's Liberation Army to prepare for war
- How I lost all my money
- Why Pakistan won't hunt down the terrorists within its borders
- The best books we read in 2014
- The religious right isn't retreating — it's reforming
- How to save money: 12 great personal finance tips
- How to be the most productive person in your office — and still get home by 5:30 p.m.
- Diagnosing the Home Alone burglars' injuries: A professional weighs in
- How to wrap a present with mathematical precision (and waste less paper)
- How academia's liberal bias is killing social science
Subscribe to the Week