'Fiscal Cliff' Plan B Sours Obama, Republican Negotiations

President threatens to veto House GOP plan to avert financial ruin

President Barack Obama and Speaker John Boehner aren’t in harmony on the fiscal cliff, despite having signaled that a deal was near earlier this week. Obama has accused his opponents of holding a personal grudge against him and Boehner has called the president “irrational.” Both sides had already agreed to tax increases on the wealthiest Americans, but that wasn’t enough. Talks have stalled, as Boehner prepped a “plan B” that is expected to pass in the House of Representatives on Thursday. Boehner’s plan raises taxes on households making more that $1 million per year, but it does not raise total revenues at the $1.2 trillion level requested by Obama, who has threatened to veto “plan B.” (Reuters)

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