Fiscal cliff update video: Average Americans would have thousands of dollars less to spend

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WASHINGTON (AP) -- President Barack Obama is embarking on a new effort to pressure Congress on the "fiscal cliff."

He's meeting with labor leaders who want lawmakers to raise taxes on the wealthy and guard against slashing health benefits for seniors.

Tomorrow, he's to huddle with a dozen CEOs from companies including General Electric, Walmart, Ford and Chevron.

Some of them are involved with the Campaign to Fix the Debt, which has pushed for a long-term plan to fix the nation's debt and deficits.