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Obama, top lawmakers meeting on fiscal cliff
 

Nancy Pelosi, Harry Reid, John Boehner, and Mitch McConnell are heading to the White House on Friday to start negotiations on avoiding the fiscal cliff looming at year's end. In case President Obama and House Speaker Boehner can't reach a deal to reduce the deficit and avert the cliff's automatic spending cuts and tax hikes, the Senate's bipartisan Gang of Six is putting together an alternative bill based on recommendations from Obama's fiscal commission, known as Bowles-Simpson. The senators aren't revealing details about their bargain, although Senate Republicans mostly agree that any deal will have to include actual tax increases — "real revenue," as Sen. Lindsey Graham (R-S.C.) puts it — while many House Republicans say they only want revenue increases coming from economic growth.

 

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