Poll: Public favors Obama in 'fiscal cliff' talks

Susan Davis, USA TODAY | USATODAY

WASHINGTON — There is strong agreement that President Obama and Speaker John Boehner, R-Ohio, should compromise party doctrine to solve the "fiscal cliff," and by a nearly 2-to-1 margin the public approves of Obama's handling of the ongoing negotiations over Boehner.

According to the latest USA TODAY/Gallup Poll, 66% said the two negotiators should compromise "on their principles and beliefs" on taxes and spending to avert the year-end "fiscal cliff" when all of the George W. Bush-era tax rates will expire and $1.2 trillion in spending cuts over a decade will begin, threatening an economic recession in 2013.

Talks intensified over the weekend and the two negotiators met again Monday at the White House. A final deal remains out of reach and going over the year-end cliff remains a possibility. White House spokesman Jay Carney said the president "believes a deal is possible."

Senate Majority Leader Harry Reid, D-Nev., warned lawmakers they will likely have to return to Washington after Christmas to continue work on the fiscal cliff as well as other pressing legislation including an aid package for Sandy storm relief. They are also expected to address additional expiring tax breaks, such as a 2% temporary payroll tax holiday and expiring unemployment benefits affecting 2.1 million Americans.

Boehner has offered to cede higher tax rates on workers making $1 million or more annually, but the White House has shown no public indication they are willing to relent on Obama's campaign pledge to raise rates on everyone earning $250,000 or more. "It is absolutely a fact that rates will go up on the top 2%," Carney said Monday.

Boehner is also seeking deeper spending cuts, particularly to entitlement programs, such as Medicare and Social Security, in exchange for more revenue. According to reports, the speaker is seeking a deal with a similar ratio of taxes and spending cuts to reduce the deficit by about $2 trillion over the next decade.

Possible entitlement reforms such as raising the eligibility age for Medicare benefits and changing the way the government calculates cost-of-living adjustments for Social Security beneficiaries have been presented by the GOP. Both proposals face strong opposition from Democrats, who have not included entitlement benefits in their spending cut proposals.

Carney declined to comment on specific policies, but indicted Obama's resistance to any deal that would "unduly put the burden on seniors or middle-class Americans or families with children of disabilities or kids trying to go to college."

The president has the upper hand in approval ratings for how he's handled the talks with Republicans, led by Boehner. A steady 48% approve of the president's handling, while only 25% approve of Boehner's handling. A majority of Americans, 62%, said they are very or somewhat closely following the negotiations. A smaller majority, 57%, are optimistic they will reach a deal. The national poll was conducted Dec. 15-16.