Update: Fiscal Cliff - News, Weather and Sports for Lincoln, NE; KLKNTV.com

Update: Fiscal Cliff

Posted:

Posted by:  KLKN Newsroom
8@klkntv.com

UPDATE DECEMBER 29:  President Obama spoke today in his weekly address, stating that he believes the House and Senate leaders can reach a deal in time.

In the address released this morning, the president said allowing the country to go over the "fiscal cliff" set to take effect in 2013 "would be the wrong thing to do for our economy."

WASHINGTON (AP) _ A person familiar with the details says President Barack Obama is not making a new `fiscal cliff' offer at his high-stakes meeting with congressional leaders at the White House.

Obama instead is spelling out again a plan he says can pass the House and Senate, said the source, who spoke on condition of anonymity because he was unauthorized to speak publicly about the private meeting.

Obama wants a bill to halt looming tax increases on all families making $250,000 a year or less and would extend unemployment insurance to many people about to lose it. His proposal would also cover other issues as the Jan. 1 deadline nears.

If he does not get a counter proposal that can pass both chambers, Obama will press for a straight up-or-down vote on his idea, the source said.

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