Pres. Obama delivered remarks at the White House urging Congress to extend middle class tax cuts associated with the so-called “fiscal cliff”.
He discussed the current negotiations on the expiring end of year tax cuts and the cost to middle class taxpayers if the so-called "fiscal cliff" takes place.
According to the White House, if Congress doesn’t act by year’s end, a typical family could see an average tax increase of $2,200.
The President was be joined by middle class Americans at the event.
Later in the day, President Obama held a Cabinet meeting where he covered a wide variety of topics, from the continuing recovery efforts in the areas affected by Hurricane Sandy, to the budget and tax talks surrounding the "fiscal cliff."
Following his statement to reporters, the President responded to a question about U.N Ambassador Susan Rice, widely rumored to be on the short-list to replace Secretary of State Hillary Clinton, saying "Susan Rice is extraordinary."