Obama returns to work on fiscal cliff | Bangkok Post: news

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Obama returns to work on fiscal cliff

President Barack Obama was to cut his holiday short and head back to Washington on Wednesday to try to address the "fiscal cliff," a set of tax hikes and spending cuts to take effect next year.

US President Barack Obama, pictured in Honolulu, Hawaii, on December 23, 2012. Obama was to cut his holiday short and head back to Washington on Wednesday to try to address the 'fiscal cliff,' a set of tax hikes and spending cuts to take effect next year.

Despite weeks of negotiations, Obama has been unable to reach a budget deal with congressional Republicans to slash the deficit and avert the mandatory austerity measures, which could pitch the economy back into recession.

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  • bkk-farang

    ThailandPost : 2,330

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    Discussion 1 : 27 Dec 2012 at 09.331

    The income and wealth gaps in the USA are already huge and still the rich want to pay less taxes and they want to cut spending for the people in need. And the USA wants to be a role model for the rest of the world?

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