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.
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