GEITHNER: We’re ‘Absolutely’ Prepared To Go Over The Cliff If Republicans Don’t Cave On Tax Hikes

Treasury Secretary Tim Geithner just said on CNBC that the administration is “absolutely” prepared to go over the fiscal cliff if Republicans do not agree to a deal in which tax rates are hiked on incomes above $250,000.

Tim Geithner

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Earlier on Wednesday, President Barack Obama charged House Speaker John Boehner with holding up a deal because of his opposition to rate increases. 

“We can probably solve this in about a week,” Obama said. “It’s not that tough.”