The recent talk of a fiscal cliff compromise from Republicans and Democrats appear to have dissolved as leaders of both sides leveled pointed criticism at the other for failing to offer a truly balanced plan for taxes and spending cuts.

House Speaker John Boehner (R-Ohio) and Senate Democratic leaders separately addressed reporters on the talks to meet a year-end deadline to avert a series of tax increases and spending cuts that will take effect if a deal is not reached. And while both sides stressed the importance of not going over the fiscal cliff, which many economists say could severely damage the economy, they peppered their remarks with mutual accusations of failing to present a credible plan.

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