President barack Obama has cut short his holiday in Hawaii to Washington, trying to reach an agreement, in order to avoid the so-called "fiscal cliff". Unless to find a compromise, increase revenue and cut spending huge effect January 1,, the United States once again threatened to tip into recession. However, Democrats and republicans are still not dispute problems. At the same time, the American ministry of finance take supernormal measures, postpone to 31 months 12 borrowing limit. In the letter to congress, the U.S. Treasury secretary Timothy · cover Turner (Timothy Geithner) said it would take accounting way to save about $200 billion, in order to prevent the $16.4 tn lending restrictions.
.
This, he says, will prevent the government from a borrowing limit for about two months. "This $16.4 tn" is the government allowed to borrow to finance its operation. Obama is expected to reach a republican leaders try again in negotiations, although there is no new date has been released..
If you don't do that could damage the United States and the global market and a threat to the American economy into a recession.
Both sides of the fiscal cliff $600 billion tax increases and spending cuts is still widely separated from each other, but analysts say, a short-term trading may agree to cut, will delay until spring..
Last Wednesday, house republican representative speaker John boehner calling for democratic leaders of the senate, and pulled out the legislation, it is how to avoid the cliff, and then pass it on the house of representatives..
However, a senior government official said, this is the republican leaders do not stand in the way of a deal..
Even so, there is little sense of urgency capital - congress in the corridor are remain silent, the BBC's zoe conway in Washington's report.
Other News:
US fiscal cliff: Obama cuts short holiday to reach deal
International scrap market remain high
Shoppers disappoint retailers this holiday season
Toyota plans to sell 9.7 million vehicles in 2012
Oil prices rise as 'fiscal cliff' talks to resume
Pakistani militants 'abduct 22 paramilitary police'
World's longest fast train line opens in China
EU accuses Samsung of patent abuse in Apple lawsuits
