The shape of a deal to avert the US fiscal cliff is at last emerging, with at least $1tn in new taxes, up to $1tn in fresh spending cuts and an increase in America’s debt ceiling, as negotiators scramble to reach an agreement before the end-of-the-year deadline.
Barack Obama, US president, and John Boehner, Republican speaker of the House of Representatives, held their third face-to-face meeting in eight days at the White House amid signs of growing momentum in the talks. If they strike a deal in the coming days, and are able to pass it through Congress, it would remove a huge cloud of uncertainty hanging over the global economy.
Read it all.
Filed under: * Economics, Politics Economy Consumer/consumer spending Corporations/Corporate Life Taxes The U.S. Government Medicare Social Security The National Deficit Politics in General House of Representatives Office of the President President Barack Obama Senate
Posted December 17, 2012 at 3:21 pm
To comment on this article: Go to Article ViewThe URL for this article is http://www.kendallharmon.net/t19/index.php/t19/article/46659/
© 2013 Kendall S. Harmon. All rights reserved.
For original material from Titusonenine (such as articles and commentary by Dr. Harmon) permission to copy and distribute free of charge is granted, provided this notice, the logo, and the web site address are visible on all copies. For permission for use in for-profit publications, please email KSHarmon[at]mindspring[dot]com
<< Return to Mobile view (headlines)