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“In reality, the clock is winding down and there has not been any
meaningful positive movement on the fiscal cliff since the election,”
said Charles Krueger, senior policy analyst at Washington Research
Group.
Greg Valliere, chief political strategist for Potomac Research Group,
said the talks are now focused on a two-step scenario: first quickly
passing the Bush-era tax cuts for all but the wealthiest and blocking
across-the-board cuts from taking place, and secondly, setting specific
revenue goals for tax and entitlement reforms to be enacted next year.
Article Source: MarketWatch
The White House and Boehner’s office were tight-lipped about the
meeting, saying only that lines of communication were open. See full story.
This was a change from Friday when Boehner told reporters that there was “no progress to report.”
U.S. stocks were little changed in early trade, as investors continued to monitor the talks.
Krueger sees a 30% chance of a deal by year-end, 60% chance of an
agreement by March and 10% chance of no deal and a “full cliff dive.”
Article Source: MarketWatch
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