A failure by Congress to extend tax cuts on the middle class in the next 48 hours and avert the fiscal cliff will likely hurt the economy and financial markets, President Barack Obama said Sunday.
There are just two days remaining to avert the tax increases.
Senate leaders have been working on a possible bipartisan deal that could pass both the Senate and the House.
â€śWe donâ€™t yet see an agreement,â€ť Obama said, in an interview with NBCâ€™s â€śMeet the Press.â€ť
Higher taxes on the middle-class would depress consumer spending and â€śhurt our economy badly,â€ť Obama said.
â€śIt is going to be very hard for the economy to sustain its current growth trends if, suddenly, we have a huge bite taken out of the average Americanâ€™s paycheck,â€ť Obama said.
- 1Dollar climbs against yen, pound
- 1Apple Probes Report ICloud Was Hacked to Gain Stars privet photos
- 1U.S. Stocks Fluctuate Near Record Before Factory Data
- 1Dollar General sweetens Family Dollar bid, may go hostile
- 1Dollar Gains to 7-Month High on Outlook for U.S. Economy | Top Forex Brokers
- 3Putinâ€™s Money Beats Sanctions in Russian Bank Bond Market
- 3European Bonds Rise on Factory Data; Ruble at Record Low
- 3Dollar rises slightly against yen, euro with investors on pause
- 3Euro Touches One-Year Low Versus Dollar | Top Forex Brokers
- 3Ukraine Fighting Surges as Russian-Backed Forces Gain
Become Our Fan
apple asia stocks asian stocks australian dollar bernanke boj china dollar draghi ecb economy eur eur/usd euro euro zone europe stocks european central bank european stocks eurozone eurusd facebook fed federal reserve forex forex news forex trading fx gbp/usd gold google greece imf obama oil pound spain stock stock market stocks swiss franc u.s dollar u.s. dollar u.s. economy u.s. stock u.s. stock futures u.s. stocks us dollar usd wall street yen