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FILE - In this Nov. 16, 2012 file photo, President Barack Obama acknowledges House Speaker John Boehner of Ohio while speaking to reporters in the Roosevelt Room of the White House in Washington. A dreaded package of tax increases and deep spending cuts to domestic and defense programs loomed over the economy in 2012 as Congress and the White House negotiated the budgetary steps needed to avoid it. (AP Photo/Carolyn Kaster, File)