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FISCAL CLIFF Boehner ‘Disappointed’ Over Tax Talks Alex Wong / Getty Images

Boehner Rejects Obama ‘Cliff’ Offer

As the United States inches closer to the fiscal cliff, Republican House Speaker John Boehner appears to be standing his ground. The Wall Street Journal reports Boehner rejected the first fiscal cliff deal offer from President Obama in a meeting with Democratic Treasury Secretary Timothy Geithner Thursday. The proposal reportedly called for a $1.6 trillion tax increase, a $50 billion stimulus program, and new executive power to raise the federal debt limit without congressional approval. Boehner rejected the deal, adding he was "disappointed." While he's reluctant to budge on tax rates, Boehner blames the standoff on the opposition party. “Democrats have yet to get serious about spending cuts,” he said.

November 29, 2012 6:00 PM