Fiscal Cliff: 25 days to go
By: Kris Schuller
Updated: December 6, 2012
Appleton, WI (WFRV) America is now one day closer to falling off the so-called fiscal cliff. Today, the president took his plea out to the middle class while outside groups turned up the pressure on lawmakers. So far - no movement.
Outside Congressman Reid Ribble's office, a vocal group protests, afraid of what's ahead if the country falls off the fiscal cliff. "All of the middle class will see their taxes jump a great deal," said protester Barbara Winters.
In Washington, DC economists came before lawmakers and debated the benefits of the proposals on the table. "You've got to nail this down the uncertainty is killing us," said Dr. Mark Zandi from Moodys.
At issue - taxes. Republicans want Bush-era tax cuts extended for all. President Obama says those tax cuts must expire for households making $250,000 or more. The GOP argues they can close tax loopholes and eliminate tax breaks to raise new revenues - and the president's plan is a job killer.
"The president proposed a plan that members of his own party won't even vote for," said Sen. Mitch McConnell.
Traveling to northern Virginia - the president put a face on the fiscal cliff. He said this middle class family stands to lose a couple thousand dollars a year. "For them to be burdened unnecessarily because Democrats and Republicans aren't coming together to solve this problem, gives you a sense of the cost in very personal terms," said President Obama.
State governments could also lose if a compromise isn't reached. But after his visit with President Obama on Tuesday, Gov. Walker thinks there's still time to find middle ground. "He was very in tune with what our concerns were, " said Gov. Walker. "He made the case for his plan and he understood that we weren't there for one plan of the other."
But it's apparent from these protesters that many are growing anxious, as the debate rages on in our nation's capitol.
President Obama says any deal with Republicans to avoid the fiscal cliff - must include ending tax breaks for the rich.
