While you were sleeping Fiscal cliff looming larger

Thu, 13 Dec 2012

By Margreet Dietz Dec 14 (BusinessDesk) - Wall Street declined as US House Speaker John Boehner renewed concern about the lack of progress in talks aimed at preventing US$600 billion in tax increases and spending cuts taking effect on January 1. "Unfortunately, the White House is so unserious about cutting spending that it appears willing to slow-walk our economy right up to the 'fiscal cliff,'" Boehner told a news conference. Failing to reach a deal to avoid the so-called fiscal cliff could push the world's largest economy into recession ne...

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