Only balanced plan to avoid "cliff" is Obama's: White House

WASHINGTON (Reuters) - The only proposal that avoids the year-end U.S. "fiscal cliff" in a balanced manner is the one President Barack Obama has put forward, White House spokesman Jay Carney said on Monday.

"The only plan that we have seen that achieves the size and the balance that's required for sustainable - for long-term deficit reduction and for putting our economy on a sustainable fiscal path, is the president's," Carney told reporters at a briefing.

Carney had been asked to comment on reports of a proposal from House of Representatives Speaker John Boehner, a Republican, that would allow top tax rates to rise in exchange for cuts to entitlement programs.

(Reporting By Mark Felsenthal; Editing by Eric Walsh)

Source: http://news.yahoo.com/only-balanced-plan-avoid-cliff-obamas-white-house-185223381--business.html

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