Finding a way of avoidingfalling off the fiscal cliff is themain priority for Obama.
Politicians have less than two months to find a way of dealing with the 600 billion dollars worth of spending cuts and tax increases due to come into effect at the end of the year.
House Speaker John Boehner says short term measures must come before long-term structural changes;
“We won’t solve the problem of our fiscal imbalance
overnight and certainly won’t do it in a lame-duck session of Congress. And it won’t be solved simply by raising taxes or taking a plunge off the fiscal cliff. What we can do is avert the cliff in a manner that serves as a down payment on – and a catalyst for – major solutions, enacted in 2013, to begin to solve the problem.”
The US government remains divided, with Republicans still in control of the House and Democrats holding the Senate.
On Main Street the majority are happy with their choice of leader. But whether they are happy on Wall Street remains to be seen.
Wires > News
- 09:32 CET Tropical Storm Bonnie bears down on South Carolina coast
- 09:31 CET First tropical storm of year to threaten U.S. heads for South…
- 07:09 CET France’s Sapin says government will stand firm on labour reform
- 05:34 CET Vintage plane crashed in Hudson River during emergency landing -…
- 04:15 CET Clashes between Islamic State, Syria rebels kill dozens near…
- 03:38 CET Cincinnati gorilla killed after boy falls into zoo enclosure
- 01:10 CET Niger says kills 12 Boko Haram fighters in gun battle
- 23:27 CET Canada’s Trudeau defends assisted suicide bill as deadline nears