While you were sleeping US budget posturing

Wed, 19 Dec 2012

By Margreet Dietz Dec 20 (BusinessDesk) - Wall Street sentiment was mixed as Democrats and Republicans each flexed their muscles, both resisting giving in further to the other side's demands as the year-end deadline to avoid the fiscal cliff approaches rapidly. US President Barack Obama would veto a tax and spending plan presented by House Speaker John Boehner, but said he remained hopeful of an accord by Christmas. The Republican "Plan B" would extend low tax rates for those who earn less than US$1 million—Obama has shifted to a US$400,000 t...

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