Grand bargain shrinks in US fiscal cliff talks

Before going on vacation, Obama urged an interim bill to keep taxes from rising on middle-income Americans as they work on a more comprehensive package.

27th December, 2012
Grand bargain shrinks in US fiscal cliff talks
Obama addresses the press just before Christmas

The deal that seems possible to fix the US budget is getting smaller and smaller.

Five days before a deadline that would trigger more than $600 billion in tax increases and spending cuts that could cause a U.S. recession, Congress will return today amid calls for action in the Senate.

The politics of progress there are easier than in the Republican-controlled House of Representatives, which baulked last week at Speaker John Boehner’s plan for tax...

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