fiscal cliff

A bipartisan group of House members says any budget deal to avert the so-called "fiscal cliff" of automatic tax hikes and spending cuts should include "substantial defense savings."

There are no signs of flexibility coming from either the White House or House Speaker John Boehner after the speaker's meeting yesterday with President Barack Obama.

President Barack Obama is pressing for public support Monday to raise taxes on the wealthiest Americans, a day after he and House Speaker John Boehner met one-on-one for the first time to discuss ways to avert the "fiscal cliff."

Sen. Bob Corker says fellow Republicans in the Senate would probably agree to higher tax rates on the wealthiest Americans if it meant getting a chance to overhaul costly government entitlement programs such as Medicare.

Millions of unemployed Americans have another reason to worry about "fiscal cliff" budget talks that seek to avoid looming tax increases and dire spending cuts come January.

House Speaker John Boehner says there's been no progress in negotiations on how to avoid the fiscal cliff of tax hikes and spending cuts and called on President Barack Obama to come up with a new offer.

The administration is taking a tough line on the "fiscal cliff" at the same time President Barack Obama resumes contact with House Speaker John Boehner over ways to avert across-the-board spending cuts and tax increases at the turn of the year.

The administration is taking a tough line on the "fiscal cliff" at the same time President Barack Obama resumes contact with House Speaker John Boehner over ways to avert across-the-board spending cuts and tax increases at the turn of the year.

For the first time in days, President Barack Obama and House Speaker John Boehner spoke by phone Wednesday about the "fiscal cliff" that threatens to knock the economy into recession, raising the prospect of fresh negotiations to prevent tax increases and spending cuts set to kick in with the new year.

House Republicans' "fiscal cliff" counteroffer to President Barack Obama hints at billions of dollars in military cuts on top of the nearly $500 billion that the White House and Congress backed last year, and even the fiercest defense hawks acknowledge that the Pentagon faces another financial hit.