Daily News Online
  KRRISH SQUARE - Luxury Real Estate  

Friday, 16 November 2012

Home

 | SHARE MARKET  | EXCHANGE RATE  | TRADING  | OTHER PUBLICATIONS   | ARCHIVES | 

dailynews
 ONLINE


OTHER PUBLICATIONS


OTHER LINKS

Marriage Proposals
Classified
Government Gazette

Obama ready for deal to avoid fiscal cliff

US: US President Barack Obama on Wednesday offered opposition Republicans a short-term compromise on avoiding the fiscal cliff, but said any deal needed to include tax increases for the rich.

Obama said he was willing to negotiate a fix before year-end to avoid the harsh tax hikes and spending cuts programmed for January 1, and then seek a comprehensive deal on long-term deficit reduction next year.

We face a clear deadline that requires us to make some big decisions on jobs, taxes and deficits by the end of the year... As Ive said before, Im open to compromise and Im open to new ideas, Obama said at his first press conference after being re-elected on November 6.

Lets go ahead and lock that in. That will be good for the economy. It will be good for consumers. It will be good for businesses. It takes the edge off the fiscal cliff. He said it was crucial to reach agreement within weeks on extending existing tax breaks for 98 percent of American households whose incomes are below $250,000 a year, to avoiding forcing a steep consumer spending crunch from January 1.

But he said that similar tax breaks for the wealthiest Americans should expire, a point which many Republicans have rejected.

We should not hold the middle class hostage while we debate tax cuts for the wealthy, he said.

AFP

EMAIL |   PRINTABLE VIEW | FEEDBACK |

Casons Rent-A-Car
Millennium City
www.news.lk
www.defence.lk
Donate Now | defence.lk
www.apiwenuwenapi.co.uk
LANKAPUVATH - National News Agency of Sri Lanka
www.army.lk
Telecommunications Regulatory Commission of Sri Lanka (TRCSL)

| News | Editorial | Business | Features | Political | Security | Sport | World | Letters | Obituaries |

Produced by Lake House Copyright 2012 The Associated Newspapers of Ceylon Ltd.

Comments and suggestions to : Web Editor