KEYC - Mankato News, Weather, Sports - - Fiscal Cliff Talks Go Behind Closed Doors

Fiscal Cliff Talks Go Behind Closed Doors

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WASHINGTON D.C. -

As the fiscal cliff deadline approaches there are no meetings scheduled between President Obama and House Speaker John Boehner, he two men who must find common ground before any deal is reached to prevent year- end tax hikes.

Sources tell CBS News progress toward a fiscal cliff deal is quote"maddeningly slow." No details of the ongoing meetings between the president's negotiators and senior Republican staffers are being released, but some see the bipartisan silence as a necessary tactic. Speaker John Boehner and House Republicans want to preserve all tax rates  but the President is insisting on a tax increase for households making more than $250,000.

 Democrats will likely have to bend when it comes government spending but many are resisting proposed changes to Social Security, Medicare and Medicaid.

The stalemate is also threatening the fragile jobs markets, retailers say they'll be forced to cut workers if sales are weak. Congressional leaders have already warned their members not to make any holiday travel plans until a deal is reached.