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Dublin: 11 °C Monday 20 May, 2013

Obama: ‘fiscal cliff’ agreement in sight but not done

The US President said the solution will come in stages, rather than a ‘grand deal’.

Image: White House Screengrab

US PRESIDENT BARACK Obama has said an agreement to avoid the so-called ‘fiscal cliff’ which would see Americans hit with a significant tax hike tomorrow “is within sight” but “not done”.

Speaking in the White House this evening, Obama said he needed to “talk on the progress being made in Congress today”.

The fiscal cliff is a series of tax rises and spending cuts which are automatically due to come into effect on 1 January.

He said that preventing the tax hike from being implemented tomorrow has been his “top priority”.

“There are still issues left to resolve but I am hopeful that Congress can get it done. But it’s not done.”

He said that part of the reason he made tonight’s speech was to emphasise to Congress that this is a “pressing concern” on people’s mind and that they need to be focused on middle-class Americans “looking for a fair shot”.

He later joked that the current Congress usually use up “every second” it is give to remedy a problem.

Obama explained to the audience that in the live address that although he would like to see a “grand bargain, a bigger deal”, it was “too much to hope for at this time”. He said that the solution to America’s budget and deficit problems would likely come in stages and steps.

Explainer: What is the ‘fiscal cliff’ and why does it matter?

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Comments (6 Comments)

  • The American writer Jack London, who grew up in my neck of the woods, once said that a “gentleman” is a fellow who makes his living without doing any actual work. I think gentlemen may be the biggest part of the problem on both sides of the Atlantic.
    There are plenty of them in Carrickmines and in Dun Laoghaire. Plenty of them in the Wicklow Mountains, and plenty of them in Dublin 2. In America, most of the “gentlemen” seem to be in Washington and on Wall Street. More’s the pity. Imagine the potential if they actually got off their fat arses and did something useful.
    Happy New Year, everybody.

    Reply
  • I really feel sorry for him . He is up against so much with the republicans . You could see a vast difference in him between the night of his first election and his re election . He went into the White House with such high hopes and aspirations and he has been blocked at almost every turn by others . He is a decent man with high values and he had to sacrifice a lot of these personal values to make any kind of improvements in the life of the lower classes in the US .
    The republications will make him sweat him out till the end on this issue and no doubt will block any attempt to bring in gun control laws

    Reply
  • Crud, there goes my raise ..????????

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  • I get a bad feeling that the republicans will use this to play off against any gun control

    Reply
  • They would never have allowed these tax hikes to happen

    Reply

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