White House: Lines of communication still open

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White House: Lines of communication still open
from MarketWatch.com - MarketPulse
WASHINGTON (MarketWatch) -- Talks on the looming fiscal cliff have not broken down, said White House spokesman Jay Carney on Friday. "The lines of communication remain open," Carney said, using the same phrase a spokesman for House Speaker John Boehner used the previous night. President Barack Obama still believes that a deal is possible that not only averts the draconian spending cuts and higher taxes from expiring tax breaks but also achieves something "far bigger," a grand bargain that puts the deficit on a sustainable path. "That is the deal the president seeks," Carney said. House Republicans have not provided any specifics on spending and revenue, even in private talks. On Thursday, Boehner and Obama met for a little less than an hour for "frank" talks, he said. Boehner is set to return to Ohio for the weekend.