Pelosi, Reid Sign Off on Fiscal Cliff Deal

Monday, 31 Dec 2012 09:57 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
The White House and congressional lawmakers have reached a deal to avoid the "fiscal cliff" that would delay harsh spending cuts by two months, Obama administration officials said on Monday.

President Barack Obama called Democratic Senate Majority Leader Harry Reid and House of Representatives Minority Leader Nancy Pelosi, who both signed off on the deal, one source said.

The agreement includes a balance of spending cuts and revenue increases to pay for the delay in the automatic spending cuts that would go into effect without a deal by lawmakers.

Of those spending cuts, 50 percent would come from defense and 50 percent from non-defense areas, the sources said. The White House viewed that as a victory, one source said, and sees it as a model for future deficit reduction pacts.

© 2014 Thomson/Reuters. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Religious Right: People Still Have Faith

Sunday, 20 Apr 2014 18:23 PM

Church attendance may be on the decline, but people still want to hear that God loves them and is real, the Rev. Frankli . . .

Kerry: US Working with Vatican Against Human Trafficking

Sunday, 20 Apr 2014 16:55 PM

The United States is working with the Vatican to fight human trafficking, Secretary of State John Kerry wrote in an op-e . . .

Pope Calls for End to War, Condemns Waste Behind Hunger

Sunday, 20 Apr 2014 07:25 AM

Pope Francis, in his Easter address before a huge crowd, on Sunday denounced the immense wastefulness in the world whi . . .

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved