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Obama and Republican House Speaker John Boehner engaged in high-stakes negotiations over a deal to avert the so-called "fiscal cliff" that would trigger automatic tax hikes and spending cuts. The leaders narrowed some differences on Social Security and tax rates for the wealthy, but faced intense pressure from their bases to resist certain compromises.
WASHINGTON, DC - DECEMBER 07: Speaker of the House John Boehner (R-OH) talks with reporters outside his office in the U.S. Capitol December 7, 2012 in Washington, DC. Boehner said he could not report on progress in the negotiations between Congress and the White House on budget negotiations because there has not been any progress. Boehner called President Barack Obama's remarks about the possibility of going over the so-called fiscal cliff 'reckless.' (Photo by Chip Somodevilla/Getty Images)