Obama to end holiday early as 'fiscal cliff' looms
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Obama to end holiday early as 'fiscal cliff' looms

Last Updated: Wednesday, December 26, 2012, 12:46
 
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Obama to end holiday early as 'fiscal cliff' looms
Washington: US President Barack Obama plans an early return to Washington, leaving his family in Hawaii for rest of the holiday vacation, the White House said.

The president will leave for Washington Wednesday evening, as the Congress is back to work Thursday for "fiscal cliff" debate. Obama's Christmas holiday usually stretches into the new year, reported Xinhua.

Obama and congressional lawmakers left Washington last Friday for the Christmas holidays.

Pressure now is growing on Senate Democrats after a backup legislation crafted by Speaker John Boehner stalled last Thursday in the House of Representatives due to insufficient support even from his own party.

If a deal is not reached before the year's end, some USD 600 billion in tax hikes and spending cuts are set to begin next month. The massive fiscal contraction could throw the US economy back into recession.

IANS



First Published: Wednesday, December 26, 2012, 12:44


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