Obama ‘modestly optimistic’ about ‘cliff’ deal

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President Obama emerged from a last-minute meeting with congressional leaders on Friday “modestly optimistic” that a deal could be reached in time to avoid a series of steep tax increases and deep spending cuts next year.

“The hour for immediate action is here, it is now,” Obama said from the White House Briefing Room, calling earlier talks with House and Senate leaders  “good and constructive.”

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