News Headline Summary

US President Obama says we have potential of getting deal on fiscal cliff

Says:
- US economy poised to take off after fiscal cliff deal.
- Boehner proposal is still out of balance.
- Willing to work with Boehner to go after excessive costs in health care system.
- Not going to be possible to get a deal to avert fiscal cliff without raising taxes on the wealthy.
- Plan to raise revenues without raising rates would likely hit charitable contributions deduction.

Update details:

- Yesterday US House Speaker Boehner had said that he had presented a credible plan on the fiscal cliff that deserves serious consideration from Obama.

Reaction details:

- In reaction to these comments E-mini S&P moved 2.25 points higher going from 1404.00 to 1406.25.

Print 17:30, 04 Dec 2012 - Economic commentary - Source: Newswires