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Pres., Congress take last stab at fiscal cliff - Kearney Hub: Local

Pres., Congress take last stab at fiscal cliff

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Barack Obama

Senate Minority Leader Mitch McConnell of Kentucky listens to a reporter's question following the Republican policy luncheon on Capitol Hill in Washington, Tuesday, Dec. 18, 2012. McConnell is flanked by Sen. John Thune, R-S.D., left, and Sen. John Barrasso, R-Wy., right. (AP Photo/Susan Walsh)

Senate Majority Leader Sen. Harry Reid, D-Nev., speaks to the media about the fiscal cliff at the U.S. Capitol in Washington, on Thursday, Dec. 20, 2012. (AP Photo/Jacquelyn Martin)

House GOP leader John Boehner of Ohio had tears in his eyes on Nov. 2, 2010, as he celebrated the GOP’s victory that changed the balance of power in Congress, during an election night gathering in Washington, D.C.

Posted: Friday, December 28, 2012 2:00 pm

WASHINGTON (AP) — Amid partisan bluster, top members of Congress and President Barack Obama were holding out slim hopes for a limited fiscal deal before the new year. But even as congressional leaders prepared to convene at the White House, there were no signs that legislation palatable to both sides was taking shape.

This afternoon’s meeting among congressional leaders and the president — their first since Nov. 16 — stood as a make-or-break moment for negotiations to avoid across-the-board first-of-the-year tax increases and deep spending cuts.

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