Obama, GOP leaders lay down markers on budget deal : Stltoday

Obama, GOP leaders lay down markers on budget deal : Stltoday

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Taking little time to celebrate, President Barack Obama is setting out to leverage his re-election into legislative success in an upcoming showdown with congressional Republicans over taxes, deficits and the impending "fiscal cliff." House Speaker John Boehner says Republicans are willing to consider some form of higher tax revenue as part of the solution _ but only "under the right conditions."

All sides are setting out opening arguments for the negotiations to come.

Even before returning to Washington from his hometown of Chicago, Obama was on the phone Wednesday with the four top leaders of the House and Senate _ Boehner included _ to talk about the lame-duck Congress that convenes just one week after Election Day.

Without a budget deal to head off the fiscal showdown, the nation faces a combination of expiring Bush-era tax cuts and steep across-the-board spending cuts that could total $800 billion next year. Economists have warned that could tip the nation back into recession

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make a deal cutting social security. medicare, medicaid and watch impending war with old folks and a few other groups in the land