Friday October 30, 2020

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
2
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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