News Briefs

  12/26/2012, Tevet 13, 5773

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.