Senate Minority Leader Mitch McConnell (R-Kent.) on Tuesday pressed President Barack Obama to detail specific spending cuts that will be part of a White House compromise on the so-called fiscal cliff.
While reports hint at progress made behind the scenes toward a deal, McConnell told fellow senators that Republicans cannot accept a plan that does not involve reductions in "out-of-control" spending.
He called attention to a study showing taxpayer funds were spent on Moroccan pottery classes, grooming products for cats, and a $325,000 robotic squirrel.
"I know that might sound obvious, but for all the President's talk about the need for a balanced approach, the truth is, he and his Democrat allies simply refuse to be pinned down on spending cuts," McConnell said.
"For Democrats,every dollar in federal spending is sacred," he went on to say. "Once secured, it can't be cut. That's why we've got trillion dollar deficits."
GOP presidential candidate Mitt Romney used a similar argument against Democrats when he said his administration would cut off funding for "Big Bird" and public television.
Meanwhile, the Wall Street Journal reports that both parties are engaged in "serious" talks to end to the fiscal cliff standoff.
People familiar with the matter told the WSJ that leaders have agreed not to disclose any details related to the negotiation. Experts say this is a sign that the talks have progressed since last week.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.