WASHINGTON, D.C—The waiting game continues as we get closer to the New Year and the deadline of the fiscal cliff.
For more than a week, both sides of the aisle have bickered over opposing plans while business leaders call for a compromise.
The separate plans supported by each party leave them about $800 billion apart on new tax revenue and about $250 billion apart on cuts to Medicare and Social Security.
Rep. John Boehner, Speaker of the House, said, “We are still waiting on the White House to make clear what spending cuts they are willing to accept.”
Jay Carney, White House Press Secretary, said, “What we haven’t seen from Republicans to this day is a single specific proposal on revenue.”
Private political groups are now getting involved in the fight.
The nation’s top business executives sent out letters pressuring both Congress and the White House to compromise.