Newshour has been provided by moving our economy for 160 years. Bnsf, the engine that connects us. And by the alfred p. Sloan foundation. Supporting science, technology, and improved Economic Performance and Financial Literacy in the 21st century. And with the ongoing support of these institutions and foundations. And. This program was made possible by the corporation for public broadcasting. And by contributions to your pbs station from viewers like you. Thank you. Ifill House Republicans today offered their counter offer to the president s plan for a deal both sides say is needed to avoid yearend tax increases. The move was the latest volley in an increasingly tense face off between the two branches of government. With 28 days left to come to a deal on the nations fiscal cliff, the white house is holding firm on its proposal to raise taxes on the wealthy. Spokesman jay carney. The obstacle remains at this point the refusal to acknowledge by Republican Leaders that there is no deal th
Fiscal cliff deadline, today House Republicans sent the president a counteroffer, calling for big cuts to entitlement spending, and no new taxes on the wealthy. Tom im tom hudson. Auto sales speed up in november, with buyers taking advantage of ultracheap financing to ditch their old cars. Susie ford takes the wraps off a new lincoln, taking the brand back to its heritage, but will a rebranding help revup sales, we ask ford c. E. O. Alan mulally. Tom that and more tonight on n. B. R. after a weekend of trading accusations over the lack of progress on avoiding the fiscal cliff, both sides now have put their opening offers on the table. Last week, it was treasury secretary Timothy Geithner meeting with top republicans. This afternoon, House Speaker john boehner sketched out the g. O. P. Proposal in a letter to the white house, and the proposal borrows suggestions from the president s own Debt Reduction commission, whose plan was ignored last year. The republican letter offered 900 billio
In Corporate America . Tom im tom hudson. President obama tries to win over top business leaders, warning republicans are holding the Global Economy hostage over the fiscal cliff. Susie and apple shares get of the most widely owned stocks sees heavy trading. Tom that and more tonight on n. B. R. Susie big job cuts today at one of the nations biggest banks. Citigroup announced its slashing 4 of its staff; that works out to 11,000 jobs worldwide. The cuts will save the bank more than 1 billion a year in expenses. But they wont be cheap, resulting in a billiondollar charge against fourthquarter earnings. Is this gloomy news from citi the beginning of other companies doing the same . Suzanne pratt reports. Reporter 11,000 jobs are a lot of layoffs, even for a bank as huge as citi. And there could be more. Thats because the monster firm is still struggling to recover from the Great Recession even though it has fired a lot of other workers in the last few years. The thing is, citi has a new
After a weekend of trading accusations over the lack of progress on avoiding the fiscal cliff, both sides now have put their opening offers on the table. Last week, it was treasury secretary Timothy Geithner meeting with top republicans. This afternoon, House Speaker john boehner sketched out the g. O. P. Proposal in a letter to the white house, and the proposal borrows suggestions from the president s own Debt Reduction commission, whose plan was ignored last year. The republican letter offered 900 billion in spending cuts from Program Reforms to medicare and social security. The g. O. P. Plan would raise 800 billion in revenues by closing loopholes and reforming the tax code, but stops short of specifics. Noticeably missing the higher taxes on highwage earners which president obama has insisted on. The white house responded, saying the g. O. P. Proposal does not meet the test of balance. In fact, it actually promises to lower rates for the wealthy and sticks the middle class with the
We talk with delaware governor jack markell. Susie im susie gharib. A coalition of the nations top c. E. O. S is feeling pessimistic about getting a fiscal cliff deal. The groups leader joins us, maya macguinneas. Tom and Luxury Fashion meets the mass market. Who wins with targets pairing with Neiman Marcus . Susie that and more tonight on nbr tom there wasnt much obvious ground given today between president obama and Congressional Republicans in the effort to avoid the fiscal cliff in january. President obama repeated his pledge hes open to new ideas, but is holding firm on his call for higher taxes on top income earners, something missing from the g. O. P. Plan. With just three weeks left, the two sides are still at odds with their opening offers. Th time ticking away to reach a deal before tax cuts expire and spending cuts hit, president obama today said hes still optimistic a deal will be done and hes willing to compromise, but negotiations just arent there yet. Its going to requir