Friday, November 9, 2012

US Catastrophe Feared

Obama Calls On Republicans To Help End Partisan Gridlock

president obama

President Barack Obama returned to the White House on Wednesday emboldened by his stunning re-election and challenging his Republican opponents to work with him to avert a looming fiscal crisis.
The liberal euphoria that greeted Obama's landmark election defeat of Mitt Romney was short-lived as he immediately set about the daunting task of ending the partisan gridlock of a bitterly divided US Congress.
Before leaving Chicago, Obama was already on the phone trying to bridge the gap with Republican leaders to avoid a catastrophic “fiscal cliff” that could plunge the fragile American economy back into recession.
A combination of dramatic spending cuts and tax increases will take effect on January 1 without a deal on reducing the ballooning budget deficit, with Democrats and Republicans in Congress locked in a who-blinks-first stand-off.
Obama called congressional leaders, sending out an overt message that his priority was to try to break the deadlock in the lame-duck session of Congress that precedes his January 21 inauguration ceremony.

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