Obama begins negotiations to avoid the 'fiscal cliff'
Wednesday 14 November 2012
The US Congress was back in session yesterday for the first time since the election, confronting the huge task of stitching together a compromise on spending and taxes to avoid the "fiscal cliff" which threatens another recession and higher unemployment.
President Barack Obama was kicking off a series of meetings with labour officials, business executives and congressional leaders. At a news conference today, Mr Obama will step up pressure on Congress to act.
The "fiscal cliff" refers to the expiry of Bush-era tax cuts, along with cuts in spending, which will be imposed automatically if politicians are unable to agree on a plan to cut the deficit.
The President hopes to turn to labour and progressive groups to build support for what he has called a "balanced" plan to reduce the debt while protecting spending priorities.
A meeting with business executives yesterday, many of whom supported Mitt Romney, aimed at enlisting their help in convincing Republicans to support higher taxes on the wealthy.
Mr Obama has invited the top four leaders of Congress to the White House on Friday for talks before he departs on a trip to Asia.
Diving in at the deep end is no excuse for shirking the style stakes
- 2 PornHub begs users to stop uploading video clips of Brazil getting beaten 7-1
- 3 Why I'm on the brink of burning my Israeli passport
- 4 L'Oreal cuts ties with Belgium supporter Axelle Despiegelaere after hunting trip photographs
- 5 The true Gaza back-story that the Israelis aren’t telling this week
Game of Thrones author George RR Martin says 'f*** you' to fans who fear he will die before finishing Westeros saga
Loom bands: Bids for dress made from colourful rubber pass £170,000 on eBay
Supermoon 2014: When and why will the moon look bigger and brighter this summer?
Gaza-Israel conflict: The terrible price Palestinian children are paying for Israel’s war with Hamas
Rotten egg smell could help battle heart disease and Alzheimer's
Sustained immigration has not harmed Britons' employment, say government advisers
War is war: Why I stand with Israel
7/7 memorial defaced on anniversary of 2005 attacks with ‘Blair lied thousands died’ graffiti
Australia facing international condemnation after turning around Sri Lankans at sea
Even when it brutalises one of its own teenage citizens, America is helpless against Israel
Socialist Worker called to apologise over ‘vile’ article saying Eton schoolboy Horatio Chapple's death is ‘reason to save the polar bears’
£30000 - £45000 per annum + Benefits + Bonus: Harrington Starr: C# Developer (...
£60000 - £80000 per annum + Benefits + Bonus: Harrington Starr: C# Integration...
£75000 - £85000 per annum + ex bens: Deerfoot IT Resources Limited: Biztalk Te...
£60000 per annum: Harrington Starr: Trade Desk Specialist (FIX, Linux, Windows...