Obama to veto Boehner's "Plan B": White House

WASHINGTON, Dec. 19 (Xinhua) -- U.S. President Barack Obama would veto the House Speaker John Boehner's "Plan B" proposal on " fiscal cliff", a combination of tax increases and spending cuts due on Jan. 1, 2013, the White House said Wednesday.

"This approach does not meet the test of balance, and the President would veto the legislation in the unlikely event of its passage," White House Communications Director Dan Pfeiffer said in a statement. "The President urges the Republican leadership to ...