Obama Begins Bipartisan Talks on Spending Cuts

Read More: http://newsdoors.blogspot.com/2012/11/obama-begins-bipartisan-talks-on.html



The Obama administration and Democratic and Republican congressional leaders held their first meeting Friday to discuss a package of budget cuts and tax increases to be adopted before the end of the year, in the name of averting the so-called “fiscal cliff.”



The “cliff” is the label given to the simultaneous expiration of the 2001 Bush tax cuts and the imposition of across-the-board spending cuts, as well as a series of other tax and budget measures, including the ending of extended federal unemployment benefits, all scheduled to take effect January 1 unless Congress and the White House enact an alternative. (See: What is the fiscal cliff?).



The metaphor has been seized on by both parties and the corporate-controlled media to give the impression that harsh measures must be taken to avoid “going over the cliff.”



Read More: http://newsdoors.blogspot.com/2012/11/obama-begins-bipartisan-talks-on.html