Only twenty days remain until the U.S. falls over the fiscal cliff, but new reports this morning from the White House are signaling potential progress toward averting the crisis. The White House released a statement confirming that House Speaker John Boehner and President Obama met in person at the White House yesterday. Both Boehner and Obama also released statements saying they would not comment specifically on what was discussed, but both agree “the lines of communication remain open.” Whether this means a deal is on the horizon is still in question.
Newark Mayor Cory Booker (D-NJ) thinks that failing to renew the tax cuts for the middle class would create significant economic challenges to those who are already struggling, such as residents across his state. “This is a time in our fragile economy that we cannot have a goverment that is - especially Republicans - holding hostage all of this country,” he says. “It’s going to really hurt people.”
“We saw what happened the last time we had a conflict like this around the debt ceiling debate. This debate ground on, and unfortunately, consumer confidence dipped, the economy hurt, credit was downgraded…I’m really hoping we learned a lesson from this,” he says.