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Consequences Clearer Of Looming Fiscal Cliff

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WASHINGTON D.C. -

President Obama is heading to Virginia today to meet with a middle class family that will feel the impact if the country goes over the fiscal cliff. On Capitol Hill lawmakers are also talking about the consequences of taxes going up on the middle class while outside groups are turning up the pressure for Congress and the President to reach a deal.

Lawmakers are getting an earful about why they need to avoid the so-called fiscal cliff.

Top economists came to Capitol Hill Thursday to talk about the impact of tax increases and government spending cuts on middle class.  The White House has made clear the country could go over the cliff if Republicans refuse to raise taxes on the top 2 percent of American earners.

Republican leaders say the will close loopholes and eliminate tax breaks to raise money - but insist Bush era tax cuts must be extended for all Americans.