'Fiscal Cliff': Obama, Boehner Speaking on Phone

ABC News' Jon Karl discusses recent developments in the "fiscal cliff" negotiations.
1:09 | 12/06/12

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Transcript for 'Fiscal Cliff': Obama, Boehner Speaking on Phone
latest on the fiscal cliff. Just 26 days before everyone's taxes go up and programs get cut. Jon karl is following it all. A small breakthrough yesterday, president obama and house speaker john boehner got on the phone. Reporter: That may not sound like much, george. But it's the first time the two men have spoken in a week. And what may be the most significant sign of progress, neither side talked about what was said on the call, an indication they may be serious about negotiating in private. We're starting to see some republicans concede that tax rates on the wealthy, at least, are going to have to go up. The president has another rock-hard bottom line. That's an increase in the u.S. Debt limit, as well. Reporter: That's right. Republicans even top republicans, say the tax rates are going to almost certainly go up. But on this question of the debt ceiling, the government reaches the limit of how much money it can borrow in february. Republicans say they will exact a price for that. They want spending cuts, if they can't get exchange for the tax increases. They will raise the debt ceiling. The president saying he's not going to negotiate on that, either. Now, to a major headline for

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