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December 10, 2012 at 06:59 AM
Like the lottery, maybe he’s just playing the ages of his kids.
Erskine Bowles, co-chairman of President Obama’s 2010 debt commission, said he expects “a 40% of a ‘fiscal cliff’ deal before year end. The chances of getting it done are better and that’s what’s key.”
However, Bowles told CNBC’s “Squawk Box” on Monday that he still thinks there’s a 35% chance of going over the cliff, which would trigger $600 billion in spending cuts and tax increases. He said there’s a 25% chance of a deal being hashed out just after the New Year.
The network notes that while the president has “drawn a hard red line” on tax rate increases for the top 2% of wage earners, Bowles noted that Obama is showing a willingness to talk about broadening the tax base.
Obama and House Speaker John Boehner, R-Ohio, met at the White House on Sunday to talk about ways to avoid the fiscal cliff. Their staffs say the lines of communications remain open, according to CNBC.
