On Friday House Speaker John Boehner said that President Obama was slowly but surely taking the country over the fiscal cliff. Since the reelection there has been total gridlock as Republicans and Democrats fight each other over a proposal they can agree on for dealing with the oncoming cliff. Boehner says that Obama keeps wasting time.
“It’s time for the president if he’s serious to come back to us with a counteroffer,” he said to reporters.
While unemployment has shrunk as of November, Boehner still says that Democrats are hurting the economy by not moving forward with a counteroffer from the GOP. Says Boehner, “The president has adopted a deliberate strategy to slow-walk our economy right to the edge of the fiscal cliff.”
The main problem comes down to one issue in the Obama proposal for dealing with the fiscal cliff, and that is to raise taxes on the top 2%. Republicans are very reticent to raise taxes, and therefore they are fighting the proposal. This has lead to a stalemate between the two, with Republicans controlling the House and the Democrats holding the Senate.
“It’s going to require both leaders,” Obama senior adviser David Axelrod told MSNBC. “Each is going to have to make sacrifices in order to get this done. I think everybody recognizes the consequences of not getting it done…In order to solve the problem and achieve the $4 trillion in savings, you’re going to have to do a balanced package, including all of these things.”
If the fiscal cliff is crossed, then that will mean tax hikes and spending cuts, which could send the country back into a recession. Both sides are arguing that they have the nation’s economic interests at heart, yet at the same time cannot seem to come to an equitable agreement. With the cliff approaching, time could run out.