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Obama: Fiscal cliff deal "within sight"

2:41 PM, Dec 31, 2012   |    comments
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WASHINGTON D.C. -- Obama says deal to avert fiscal cliff is "within sight" but not done yet.

He says it is not yet complete and work continues.

Obama says this has been a "pressing issue on people's minds," and tells an audience of middle-class taxpayers the deal would, among other things, extend unemployment benefits for Americans "who are still out there looking for a job."

He voiced regret that the work of the administration and lawmakers on Capitol Hill won't produce a "grand bargain" on tax-and-spend issues, but said that "with this Congress, it couldn't happen at that time."

Officials familiar with the negotiations say an agreement would raise tax rates on family income over $450,000 a year and increase the estate tax rate.

Associated Press

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