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Economy: Federal Budget / Fiscal Cliff #1034246

CBS Evening News for Monday, Nov 26, 2012
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(Studio: Scott Pelley) The fiscal cliff tax increases looming in 5 weeks unless President Obama and Congress agree on how to fix the budget cited.

(Capitol: Nancy Cordes) The budget negotiations reviewed; details given about the talks between President Obama and Speaker of the House John Boehner and moves by prominent Republicans toward a tax revenue increase; photos shown of the Senate’s Gang of Eight, who are working on a bipartisan approach to debt reduction. [Senator Mitch McCONNELL – calls for Obama to lead his party to do what’s needed.] [Senator Saxby CHAMBLISS†- says we’ve got to get the economy going again.] [Senator Mark WARNER†- notes the math for entitlements, including Medicare and Social Security, doesn’t work anymore.] The no-tax pledge created by Grover Norquist†† mentioned.

(Studio: Scott Pelley; White House: Major Garrett) Obama’s request for Treasury Secretary Timothy Geithner to lead negotiations with Congressional Republicans with involvement from White House chief of staff Jack Lew† and the White House unwillingness to negotiate on Social Security discussed.

Reporter(s):
Pelley, Scott;
Cordes, Nancy;
Garrett, Major
Duration:
00:04:10

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