Wednesday, 7 November 2012

President Barack Obama facing fiscal cliff as stock markets fall

" The president faces an urgent challenge to prevent the gridlock that scarred his first term as fears grew that politicians will fail to cut a deal to stop the economy falling over a 'fiscal cliff'. More than $600bn (£380bn) of tax rises and cuts in government spending are due in early January. Failure to avoid the cliff will plunge the world's largest economy back into a slump and disrupt the global economy's still fragile global recovery."

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