Obama Makes New Fiscal Offer; Boehner Says It's Not Enough

President Obama made a new fiscal cliff offer Monday that would ‬raise ‪$1.2 trillion in taxes and lift the debt limit for two years, and Speaker John Boehner (R-Ohio) rejected it.

‪The president made the offer to the Speaker in a 45-minute meeting at the White House on Monday, in the latest sign of the quickening pace of negotiations to avoid the more than $500 billion in automatic tax increases and spending cuts due in January.‬

‪The new Obama offer lowers the president’s demands for tax increases and includes additional spending cuts, but it falls short of the healthcare savings the GOP wants from reforming entitlement programs like Medicare.‬
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