Fiscal Cliff

  • The US has averted a recession for now: Surya Gangadharan January 3, 2013

    Barack Obama on Tuesday signed into law a landmark bill that allows a rare tax increase that will hit the nation's wealthiest households in a bipartisan budget deal that stops the world's largest economy from falling into a deep fiscal crisis and recession. CNNIBN's Surya Gangadharan joined IBNLive readers for...
  • More steps needed to save US credit rating, says Moody's January 3, 2013

    New York: The United States must do more than the recently passed "fiscal cliff" measures if the country is to rescue its Aaa debt rating from its current negative outlook, rating agency Moody's Investors Service said on January 3. Standard & Poor's said the deal does not affect its negative...
  • Fiscal cliff bill will help reduce deficit, says US President Barack Obama January 2, 2013

    The US Congress has approved a rare tax increase that will hit the nation's wealthiest households in a bipartisan budget deal that stops the world's largest economy from falling into a deep fiscal crisis and recession. ...
  • With final vote, US Congress resolves 'fiscal cliff' drama January 2, 2013

    Washington: The US Congress approved a rare tax increase on Tuesday that will hit the nation's wealthiest households in a bipartisan budget deal that stops the world's largest economy from falling into a deep fiscal crisis and recession. By a vote of 257 to 167, the Republicancontrolled House of Representatives approved...
  • US 'fiscal cliff' crisis heads to resolution in Congress January 2, 2013

    Washington: A monthslong battle over the US "fiscal cliff" headed to a close on Tuesday as the House of Representatives moved toward final approval of a bipartisan deal meant to prevent Washington from pushing the world's biggest economy into recession. The Republicancontrolled House was expected to back a tax hike on...
  • Fiscal cliff, guru among words that should retire in 2013 January 1, 2013

    London: Fiscal cliff, guru and spoiler alert are among words that should be removed from the vocabulary in 2013, according to a group of US academics. Michigan's Lake Superior State University (LSSU) have released their '38th Annual List of Words to be Banished from the Queen's English for Misuse, Overuse...
  • US Senate approves bill to avert 'fiscal cliff' January 1, 2013

    Washington: Hours past a selfimposed deadline for action, the Senate passed legislation early New Year's Day to neutralise a fiscal cliff combination of acrosstheboard tax increases and spending cuts that kicked in at midnight. The predawn vote was 898. Senate passage set the stage for a final showdown in the House,...
  • US fiscal cliff deal reached; Senate likely to vote January 1, 2013

    The agreement includes a balance of spending cuts and revenue increases to pay for the delay in the automatic spending cuts. ...
  • Obama, Republicans reach deal on fiscal cliff January 1, 2013

    Washington: Racing against the clock, the White House reached agreement with congressional Republicans late on Monday on a deal to prevent acrosstheboard tax increases and spending cuts to government programs from taking effect at midnight, according to administration and Senate Democratic officials. These officials said a New Year's Eve vote in...
  • 'Fiscal cliff' tumble looms despite US Senate efforts January 1, 2013

    Washington: The United States looked on track to tumble over the "fiscal cliff" at midnight on Monday, at least for a day, as lawmakers remained reluctant to back lastminute efforts by Senate leaders to avert severe tax increases and spending cuts. The US House of Representatives might not vote on any...
  • Rupee drops for second year, seen gaining in 2013 December 31, 2012

    Mumbai: The rupee fell due to oilrelated dollar demand on Monday, ending 2012 with its second consecutive yearly fall, weighed down by a wide current account gap, the slow pace of financial reforms, and economic uncertainty at home and abroad. However, the rupee ended 2012 with an improved tone, recovering...
  • Connecticut school shooting worst day of my Presidency: Obama December 31, 2012

    As the year winds down to a close US President Barack Obama has said the school shooting at Newtown, Connecticut, was the worst day of his presidency. ...
  • Indian bourses perform better than global peers in 2012 December 30, 2012

    New Delhi: Amid turbulent times for the stock markets across the world, the equity turnover fell on Indian bourses as well in 2012, but the fall was meagre at 1.57 per cent when compared to the global average. Globally, the equity turnover fell sharply by 14.7 per cent, while the...
  • US: Barack Obama, lawmakers to discuss fiscal cliff December 28, 2012

    Washington: President Barack Obama and lawmakers are launching a lastchance round of budget talks days before a New Year's deadline to reach a deal or watch the economy go off a "fiscal cliff." Obama and Vice President Joe Biden will meet congressional leaders from both parties at the White House...
  • Obama back from Hawaii, Congress bickers on cliff December 28, 2012

    Washington: President Barack Obama returned to the White House on Thursday from a vacation shortened by government gridlock while Democrats and Republicans snarled across a partisan divide and showed no sign of compromise to avoid yearend tax increases and spending cuts. Adding to the woes confronting the middle class was a...
  • Obama to cut vacation short to deal with fiscal crisis December 26, 2012

    Honolulu: President Barack Obama is cutting short his Hawaiian holiday to leave for Washington on December 26 to address the unfinished "fiscal cliff" negotiations with Congress, the White House said on December 20. As the clock ticks toward a January 1 deadline, efforts to avert a sharp rise in taxes...
  • Will avert fiscal cliff, says US President Barack Obama November 15, 2012

    Speaking at his first press conference since his reelection, US President Barack Obama said he would save the economy from hurtling down a fiscal cliff. ...
  • US: Barack Obama says fiscal deficit top priority November 10, 2012

    Flush with reelection vigor, US President Barack Obama took on the fiscal deficit issue calling for the House of Republicans to immediately pass a bill already approved by the Senate that would maintain current tax rates for middleclass Americans, while increasing taxes of wealthier citizens. Obama also said that fiscal deficit...
  • Can President Barack Obama save the US economy? November 8, 2012

    The Republicans have offered newly reelected US President Barack Obama a shortterm fix to the so called fiscal cliff, but insisted they would not cave in to tax increases to boost revenues. ...
  • Indian markets follow Wall St fall after US elections November 8, 2012

    New Delhi: Indian markets tumbled on on Thursday as Wall Street worried about the fiscal crisis and the European economy's further deterioration, underpinning the safehaven dollar and yen as well as US Treasuries on safety bids. US Congress must avert the fiscal cliff of nearly $600 billion worth of spending...
  • US: Obama heads back to a divided government November 8, 2012

    Washington: One day after a bruising, mixedverdict election, President Barack Obama and Republican House Speaker John Boehner both pledged on Wednesday to seek a compromise to avert looming spending cuts and tax increases that threaten to plunge the economy back into recession. Senate Majority Leader Harry Reid, DNev said "Of...