Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

NATION [Derived Headline]

Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

NATION [Derived Headline]

Article excerpt

OBAMA, BOEHNER MEET ON 'CLIFF'

WASHINGTON -- President Barack Obama and House Speaker John Boehner met at the White House today in hopes of continuing to make progress on a plan to deal with the "fiscal cliff."

The meeting came after Mr. Boehner on Friday offered $1 trillion in higher tax revenue over 10 years and an increase in the top tax rate on people making more than $1 million a year. The House speaker is also offering a large enough extension in the government's borrowing cap to fund the government for one year before the issue must be revisited -- conditioned on Mr. Obama's agreeing to the $1 trillion in cuts.

More progress was made in staff negotiations over the weekend. The two negotiators are running out of time if they hope to make an agreement and get it passed through Congress before the cliff strikes at the beginning of January when a toxic mix of huge tax increases and slashing cuts to the Pentagon and other federal agencies begins to take effect. …

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