Republicans declare Obama Eager to Fall off Fiscal Cliff

President Barack Obama has been accused by a senior Republican of being eager to take the US over the fiscal cliff for political gain, as Washington edges closer to a year-end deadline with no deal in sight.

Speaking on Fox News Sunday, Senator John Barrasso, the third-highest ranking senator in the GOP, suggested that the president “sensed victory at the bottom of the cliff”.

Earlier, Obama called on Congress to “cool off” over the holiday break, amid rising rhetoric on both sides. On Friday, the White House raised the prospect of settling for a stopgap measure to avert the punitive tax rises and swingeing spending cuts which are due to come in effect on 1 January. The president had previously pushed for a grand compromise to avoid the so-called fiscal cliff.

But with just nine days to go until the year-end deadline, Democrats and Republicans are seemingly still some way off from any agreement, be it to a comprehensive deal or short-term measures.

via Guardian

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza
Alfonso Esparza

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