29 December, 2012

CNN Breaking News

President Barack Obama said today that he is "modestly optimistic" a deal to avoid the fiscal cliff can still be reached, but he warned that no one will get 100% of what they want.

A political summit at the White House left it to the Senate's top Democrat and Republican to work out a possible compromise to avoid the fiscal cliff, participants said.

The fiscal cliff is a combination of automatic tax hikes and deep spending cuts due to take effect at the start of the new year.

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