President Barack Obama and congressional leaders agreed
Friday to move quickly on negotiations to avert a year-end fiscal crisis that
has put markets on edge, the WSJ folks tell us.
Congressional leaders sounded positive notes after their
first round of talks about their ability to craft a bipartisan budget deal.
Aides said the leaders agreed to a two-stage approach that would make a down
payment on deficit reduction this year. The second stage would force detailed
decisions next year on thornier tasks such as overhauling the tax code and
cutting spending, including to entitlement programs.
The toughest issues remain unresolved….
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