Obama rejects GOP fiscal cliff plan

Saying it offered "nothing new," Obama advisor Dan Pfieffer rejected the Republican's counter offer for fiscal cliff negotiations this throwing the ball back in the White House's court. White House Communications Director Dan Pfeiffer rejected Speaker of the House John Boehner's counter-proposal to avert the fiscal cliff in a statement to reporters Monday afternoon. "The Republican letter released today does not meet the test of balance," Pfeiffer said. "In fact, it actually promises to lower rates for the wealthy and sticks the middle class with the bill. Their plan includes nothing new and provides no details on which deductions they would eliminate, which loopholes they will close or which Medicare savings they would achieve." President Barack Obama has pledged to oppose any agreement that does not raise tax rates on the top two percent of wage-earners. Pfeiffer continued: Independent analysts who have looked at plans like this one have concluded that middle class...(Read Full Post)