The Republican Speaker of the House of Representatives, John Boehner, will meet with President Barack Obama at the White house Thursday with the fiscal cliff deadline looming over the economy.

Both the White House and the Republican-led Congress have rejected each other's offers and counteroffers.

All sides must agree on a package of budget cuts and tax increases by the end of the year or they will kick in automatically. Many economists say this will plunge the country back into recession.