Currently Being ModeratedNov 19, 2012 3:30 AM (in response to windamingle3)
The short answer is no. Anything that signs in to the same iCLoud account gets to share EVERYTHING. That after all is the point of iCloud.
I would suggest that the solution is to each have your own iCLoud account (neither of you share any of the other's data) and also set up a third 'shared' account that you both will have access to add, edit, delete etc. So each of you will be using 2 accounts, your own and the shared one. Then simply use them as appropriate, so e.g. each of you keeps your own contacts in your own account, but any contacts that you share, put in the shared account. Same with Calendars etc.
That would be the correct way to do it.