The White House expressed optimism on Monday that a deal would be reached to avert the looming fiscal cliff that threatens to send the world's largest economy tumbling back into recession.
US Council of Economic Advisers Chairman Alan Krueger speaks during a press briefing at the White House. The administration said Monday it was "confident" that a deal could be reached with Republicans to avert the looming fiscal cliff, though it said work still "has to be done."
President Barack Obama spoke over the weekend to Republican House Speaker John Boehner and Democratic Senator Harry Reid, who control their respective chambers of Congress and are therefore key players in brokering an accord.
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