Obama Fiscal Cliff Statement: President Gives Speech On Dec. 31

Obama Making Fiscal Cliff Statement
US President Barack Obama speaks following a meeting with congressional leaders in the Brady Briefing Room of the White House on December 28, 2012 in Washington, DC. Obama met with congressional leaders for talks aimed at avoiding the 'fiscal cliff'. AFP PHOTO/Mandel NGAN (Photo credit should read MANDEL NGAN/AFP/Getty Images)
US President Barack Obama speaks following a meeting with congressional leaders in the Brady Briefing Room of the White House on December 28, 2012 in Washington, DC. Obama met with congressional leaders for talks aimed at avoiding the 'fiscal cliff'. AFP PHOTO/Mandel NGAN (Photo credit should read MANDEL NGAN/AFP/Getty Images)

President Barack Obama is giving a speech on the so-called fiscal cliff Monday at 1:30 p.m. with middle-class Americans, the White House announced.

His comments come as the Bush-era tax cuts and spending cuts mandated by Congress come take effect Tuesday. Also involved are other tax measures that would largely hit the middle class, and emergency unemployment insurance, which just expired for some 2 million people.

For more coverage, check out HuffPost's live blog.

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