LIVE VIDEO: Obama Meets Reid On Fiscal Cliff, Plans Remarks - Spokane, North Idaho News & Weather KHQ.com

LIVE VIDEO: Obama Meets Reid On Fiscal Cliff, Plans Remarks

>>>The President will talk to the press at the White House about the Fiscal Cliff at 2pm. Watch it LIVE right here on KHQ.com

WASHINGTON (AP) - President Barack Obama is meeting with Senate Majority Leader Harry Reid to discuss a way to avoid the fiscal cliff. The president plans to make remarks at the White House following their meeting.
    
A White House official says that Obama and Reid are discussing the next steps needed to avoid across-the-board tax increases and steep spending cuts scheduled to kick Jan. 1.  Economists fear the combination could deliver a blow to the U.S. economy.
    
The meeting comes a day after House Speaker John Boehner abandoned efforts to pass his own proposal in the House to avoid the so-called fiscal cliff.
    
Obama and Boehner had been negotiating a large deficit reduction package with tax increases and spending cuts, but those talks hit a standstill with only days to find a resolution.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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