Obama Cuts Vacation Short to Deal With Fiscal Crisis

Posted by Forexsq 603 days ago (http://www.cnbc.com)
img President Barack Obama is cutting short his Hawaiian holiday to leave for Washington on Wednesday to address the unfinished "fiscal cliff"negotiations with Congress, the White House said on Tuesday.

As the clock ticks toward a Jan. 1 deadline, efforts to avert a sharp rise in taxes and deep spending cuts have stalled, worrying world financial markets.

Obama and congressional lawmakers left Washington on Friday for the Christmas holidays with talks to avert the fiscal disaster in limbo.

When Obama arrives back in Washington early on Thursday, the focus will shift to the U.S. Senate after Republicans in the House of Representatives failed to pass their own budget measures last week.

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