Obama on Fiscal Cliff Talks: "This Is Not a Contest"

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President Barack Obama on Friday (December 21) urged lawmakers to reach agreement on averting tax hikes on the middle class, saying he was ready and willing to do what it takes to get a deal by Jan. 1. Obama said he had spoken with Republican House Speaker John Boehner and met with Senate Democratic leader Harry Reid about the fiscal cliff. The president said he was an optimist and believed a deal could be hammered out.