News Headline Summary

White House says Republican fiscal cliff plan does not meet the test of balance and includes nothing new

Says:

- Obama is not willing to give up his demand that the wealthiest Americans must pay higher tax rates.

Update details:

- Earlier in the session we saw a Republican offer which proposed USD 600bln in health care savings; which saves USD 200bln by revising inflation index for federal retirement benefits.

Print 21:49, 03 Dec 2012 - Economic commentary - Source: Newswires