23/12/2012
Obama Calls for a more Limited Plan to Avoid Fiscal Cliff
U.S. President Barack Obama urged members of Congress to pass a limited financial plan, as they left Washington for the Christmas holiday without reaching an agreement sparing the country the threatening fiscal cliff by the end of the year.
He urged Congress earlier yesterday to adopt a more limited tax plan to avoid the fiscal cliff that will impose a plan of increases in taxes on Americans and stringent cuts in public expenditure, at a time where Democrats and Republicans are considering their next step after the failure of the discussions so far.
Obama announced that he is still demanding a broad and comprehensive law that reduces the budget deficit and put the U.S. economy on the road to long-term prosperity, but this effort failed as the negotiations between the White House and Republicans reached an impasse.
