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December 31st, 2012 
FAKE NEWS for the Zionist agenda US Vice President Joe Biden and Senate Minority Leader Mitch McConnell continued their talks over the deal through the night and into Monday morning. Washington has promised to engineer an alternative to the ‘cliff’ before the New Year.
President Barack Obama was making a final push to stop the United States from falling into an economic crisis in the New Year.
In a televised interview aired on Sunday, Obama blamed the Republicans for the current deadlock and warned of adverse consequences if Congress failed to prove his proposed package before the deadline.
“They say that the biggest priority is making sure that we deal with the deficit in a serious way. But the way they’re behaving is that their only priority is making sure that tax breaks for the wealthiest Americans are protected,” Obama said.
“That seems to be their only overriding, unifying theme.”
If no deal is reached between the two sides in Congress by the end of Monday, huge tax increases and benefit cuts will go into effect, meaning each American family will have to pay nearly $2,000 more in tax next year.
On the other hand, the US administration has to cut its budget by about $984 billion by 2021. Therefore, there would be cuts in military spending and social services in the coming years.
Obama has demanded that those with an income higher than $250,000 should pay higher taxes, saying the hike would help the government compensate some of its tax cuts without stopping social services like unemployment insurance.
However, Republicans have opposed the demand, believing the move would discourage investors and consequently lead to an economic crisis.
Any deal must pass the Senate before going to the Republican-controlled House of Representatives, where it is unclear if any White House solution can win a majority support.
SAB/HSN/MA
Source Article from http://www.presstv.ir/detail/2012/12/31/281123/us-fiscal-cliff-talks-in-final-hours/
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