News Briefs

  Tevet 13, 5773 , 26/12/12

Obama Cuts Holiday Short to Deal with Fiscal Cliff

President Barack Obama cut his holiday short and headed back to Washington on Wednesday to try to address the "fiscal cliff," a set of tax hikes and spending cuts to take effect next year. Despite weeks of negotiations, Obama has been unable to reach a budget deal with congressional Republicans to slash the deficit and avert the mandatory austerity measures, which could pitch the economy back into recession.

Other archived news briefs:Dec 26 2012, 03:44 PM, 12/26/2012