Obama just got done talking on the fiscal cliff, and the gist is this:
A deal is in sight, but it’s not done yet.
There’s no agreement yet because of the sequester (the spending cuts). Obama is insisting on a balanced approach that doesn’t go too fast.
During the speech he took swipes at Congress, about how they wait to the last minute, and can’t agree to a grand bargain which is what he would have preferred.
He also made a point to say that the GOP is caving on tax hikes, which the GOP must hate.
There’s a lot of Twitter reaction from conservatives saying how upset they are about Obama’s tone.
The market fell while he spoke.
You can see some of our notes below, and you can follow our full live coverage here.
EARLIER: Obama’s announcement on the Fiscal Cliff is set to begin.
There’s a group of Middle Class Americans standing behind the podium.
Obama says that preventing the tax hike has been his “top priority.”
Says it appears that a deal is getting done, but it’s not done.
Not only would agreement prevent tax hikes, it would extend various tax credits.
Deal would extend unemployment insurance.
Preference was for a “grand bargain.”
With this Congress, Obama says that that was too much to hope for.
The audience laughs at the swipe at Congress.
Sequester is a “piece of business that still has to be taken care of.”
EARLIER: At 1:30 PM, Barack Obama is scheduled to make an announcement on the Fiscal Cliff. At the moment he is a bit late.
The buzz at the moment is that a deal is close, that they’ve got a deal on taxes, but that the sequester (the spending cuts side) remains a sticking point.
According to reports, Obama is NOT expected to be announcing a deal.
We’ll be covering it here LIVE.
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