As the "fiscal cliff" negotiations have seemed to hit a stalemate, CBS News has learned that President Obama and House Speaker John Boehner will meet at the White House this afternoon at 5 p.m. ET.
Earlier today Beohner forcefully argued that the discussion over the "fiscal cliff" shouldn't be about raising taxes but cutting spending and that is what's holding up any prospects of a deal.
"It's clear the president is just not serious about cutting spending. But spending is the problem," Boehner said at a news conference earlier today. "The president wants to pretend spending isn't the problem. That's why we don't have an agreement."
Republicans are demanding that President Obama agree to more spending cuts. The main components of the president's latest offer includes $600 billion in cuts with $1.4 trillion in tax increases. The Republican offer, meanwhile, is the inverse. It includes $800 billion in revenue increases and $1.4 trillion in spending cuts.
Boehner also said criticized the president's deal for including spending proposals. "[T]hey've put some spending cuts on the table, [but] unfortunately the new stimulus spending they want almost out strips all of the spending cuts that they have outlined," he said.
Click on CBS News for more on this latest development.