Pressure mounts on fiscal cliff, Obama urges fix
- Published: 29 Nov 2012 at 09.47
- Online news: World
US President Barack Obama called for a pre-Christmas deal with Republicans to avert a year-end tax and deficit crunch, as pressure mounted from the business world and stock markets fluttered.
US President Barack Obama (C) speaks as Secretary of State Hillary Clinton (L) and Secretary of Defence Leon Panetta listen during a cabinet meeting at the White House in Washington, DC. Obama called for a pre-Christmas deal with Republicans to avert a tax and deficit crunch, as pressure mounted from the business world and Europe and stock markets fluttered.
US lawmakers demanded urgent action to keep America from tumbling off the so-called "fiscal cliff," and Treasury Secretary Timothy Geithner was to drive the point home Thursday when he meets members of Congress to discuss "a balanced approach to reduce our deficit," his office said.
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