The last-minute US deal over tax increases has fixed one problem, but the world's largest economy must get to grips with a budget deficit that threatens not a "fiscal cliff" but a "fiscal abyss", China's Xinhua news agency said on Wednesday. #China#Barack Obama#NewsTracker#Tax cuts#US fiscal cliff
US lawmakers pushed the country to the edge of the "fiscal cliff" on Sunday as they struggled to reach a last-minute deal that could protect the world's largest economy from a politically induced recession. #Barack Obama#NewsTracker#Tax cuts#"Fiscal Cliff"
Obama is seeking to seize the initiative in his bitter ideological battle with Republicans and turn around his presidency just 14 months before voters decide whether to give him a second term. #Barack Obama#NewsTracker#jobs package#Tax cuts