[Breaking News] Obama reportedly makes new 'fiscal cliff' offer

greenback

By Michael Kitchen

LOS ANGELES (MarketWatch) -- President Barack Obama has made a new offer to avert the U.S. fiscal cliff of looming tax hikes and severe spending cuts, moving closer to the Republicans' position, reports said late Monday. The White House's latest counterproposal includes $1.2 trillion in revenue increases and $1.22 trillion in spending reductions, Reuters reported, citing an unnamed source familiar with the negotiations. Obama's latest offer would also use the "chained consumer price index" for regular cost-of-living increases to Social Security, but with protections for the vulnerable populations," Reuters reported. Meanwhile, the Associated Press cited its own unnamed source as saying the Obama offer Monday called for increasing taxes on those making more than $400,000, a higher threshhold than the president previously proposed. Obama's offer also added an additional $200 billion in spending cuts over the coming decade compared to his previous offer, the AP report said. Obama met again Monday with his chief Republican negotiating partner, House Speaker John Boehner, as the two seek to craft a deal to stop draconian austerity measures passed last year from coming into effect at the start of the coming year.

greenback

Both sides are making good moves. The chance of reaching an agreement is higher by the end of this week.

dsp

greenback 发表于 2012-12-17 11:14 PM
Both sides are making good moves. The chance of reaching an agreement is higher by the end of this w ...

then sell on news next week?

KK手记

greenback 发表于 2012-12-17 11:14 PM
Both sides are making good moves. The chance of reaching an agreement is higher by the end of this w ...

Deal or no deal, same.

greenback

dsp 发表于 2012-12-17 07:24 PM
then sell on news next week?

Possibly ... but I bet a pop first to retest the high and make a new high.

greenback

KK手记 发表于 2012-12-17 07:28 PM
Deal or no deal, same.

Upside move is higher now ... at least as an initial response ...

befriend

dsp

greenback 发表于 2012-12-18 01:04 AM
Upside move is higher now ... at least as an initial response ...

That is good. A nice Xmas gift after such tragedy in Newtown. Pray for poor kids.

rightonmoney

every body happy when market goes up except the short sell.

greenback

rightonmoney 发表于 2012-12-18 10:57 AM
every body happy when market goes up except the short sell.

This is a market where you can only stay in cash if you want to be a bear safely.