Pelosi Says Time For Fiscal Cliff Deal Running Out

WASHINGTON (December 13, 2012)—U.S. House Democratic Leader Nancy Pelosi said Thursday a deal must be reached "in the next couple of days or the very beginning of next week" to avoid the fiscal cliff of automatic tax hikes and spending cuts.

The California Democrat criticized Republican House leaders for sending lawmakers home on Thursday, saying they should stay in Washington and work on a solution.

Last week, most House members left town on Wednesday.

"Here we are once again having a two-day work week in the Congress of the United States,” she said.

Negotiations appear to be at standstill over President Barack Obama's insistence that tax rates increase for top earners.

U.S. House Speaker John Boehner has agreed to increased tax revenue through reducing or eliminating unspecified tax breaks, but Boehner opposes raising tax rates.

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