Wednesday, December 12, 2012 10:20 am
House GOP press Obama for balanced fiscal deal
The Associated Press
Speaker John Boehner (BAY'-nuhr) tells reporters at a Capitol Hill news conference that he and the White House have some "serious differences." He says the GOP proposal is a balanced approach.
House Majority Leader Eric Cantor urged the president Wednesday to produce more specifics. He raised the possibility of Congress being in session through the Christmas holiday.
The combination of automatic tax increases and spending cuts would go into effect after the first of the year. Economists have warned it could plunge the nation into a recession.
Boehner and Obama spoke by phone on Tuesday.