Us Fiscal Cliff

China on 'fiscal cliff' deal: US kicking can towards 'fiscal abyss'

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.

More worries: 'Fiscal cliff' bill adds $4 trillion to deficits

The Congressional Budget Office on Tuesday said Senate-passed legislation to avert the "fiscal cliff" would add nearly $4 trillion to federal deficits over a decade, largely because it would extend low tax rates for almost all Americans.

US lawmakers in last-chance talks over looming fiscal cliff

President Barack Obama and lawmakers are launching a last-chance round of budget talks days before a New Year's deadline to reach a deal or watch the economy go off a "fiscal cliff."

Obama for bipartisan solution to fiscal cliff problem

US President Barack Obama is hoping for a bipartisan solution to protect the middle class from an automatic tax hike in the absence of a budget deal.

US fiscal cliff talks turn awry, Obama threatens veto

The conflict over the stalled "fiscal cliff" talks grew more heated on Wednesday and threatened to become even more so Thursday when the action is expected to shift for the first time to the floor of the US House of Representatives.

US fiscal cliff, EU debt crisis may drive new global recession: UN

The United Nations has lowered global economic growth forecast for the coming two years even as it warned of a new global recession due to the US fiscal cliff situation and EU debt crisis.

US fiscal cliffhanger still hinges on taxes on 'fat cats'

President Obama and the House Republicans have presented contrasting proposals to avert a fiscal cliff. But they can't seem to agree on the central issue: whether wealthy Americans should pay more taxes than they do now.

US 'Fiscal cliff' talks stalled but progress in the offing

US lawmakers have made little progress in the past 10 days toward a compromise to avoid the harsh tax increases and government spending cuts scheduled for January 1, a senior Democratic senator said on Sunday.

Rivals dig in as US 'fiscal cliff' drama debuts

Both sides in the US "fiscal cliff" debate stood their ground on Tuesday as they gathered in Washington for the first time since the elections, with a fundamental tax dispute preventing a broader compromise on deficit reduction.

Obama to make public statement on fiscal cliff today

In his statement, Obama is expected to discuss the tax increases and spending cuts that are set to take effect in January, and will likely urge Congress to take action on both. He is unlikely to put forward a new plan.