20:46
Reported

News Brief

  12/19/2012, Tevet 6, 5773

Citing Middle Class, Obama to Veto Republican 'Plan B'


President Barack Obama on Wednesday warned Republicans he would veto their "Plan B" plan to avert the looming fiscal cliff crisis, saying it would dump pain disproportionately on the middle class. The move came as hopes faded for an imminent deal to avert a year-end combination of tax hikes and huge spending cuts which analysts fear could spark a new US recession and damage the fragile global economic recovery.