Geithner is "absolutely" prepared to go over "fiscal cliff"

12/6/2012 | CNBC

If Republicans won't go along with higher tax rates for America's wealthiest 2%, the Obama administration is ready to let the "fiscal cliff" automatically take effect at year's end, Treasury Secretary Timothy Geithner said. "There's very broad support out there for not just extending these tax cuts for 98% of Americans, but for an agreement that has rates going up with tax reforms that limit deductions alongside a set of substantial long-term savings on the spending side," he said.

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