President Obama began a
highly anticipated meeting with congressional leaders Friday morning
with a vow to seek a path to avoid the economy falling off the
so-called fiscal cliff.
"Our challenge is to make sure we are able to cooperate ... make
some tough compromises, build some consensus," Obama told reporters
before the group went into closed session.
Unless Republicans and Democrats agree on an alternative, the
economy will be hit by a dual 600-billion-dollar whammy of budget
cuts and tax increases starting January 1.
The biggest sticking point is Democratic insistence that wealthy
pay more in taxes, while middle and lower income earners continue to
benefit from Bush-era tax cuts. Republicans want the well-off to
keep their tax cuts as well as the lesser earners.
Obama was meeting with the Senate's Democratic and Republican
leaders, Harry Reid and Mitch McConnell, and their counterparts in
the House of Representatives, Republican John Boehner and Democrat
Nancy Pelosi.
Democrats control the Senate, while Republicans control the House.
Obama cast a teasing spotlight on Boehner, who has been a harsh
critic, noting his birthday is Saturday - but adding he had decided
not to "embarass him" with a cake because he didn't know how many
candles to put on it.
Boehner, who was sitting next to the president, perked up, smiled
and responded with a playful jab at Obama's arm.
"Folks want to see we are focussed on them, not on our politics
here in Washington," Obama said.
