Mon, Dec 24, 2012 - Page 7 News List

Obama takes brief holiday after ‘fiscal cliff’ deal fails

SHORT RESPITE:Before the US president left for Hawaii, he asked the US Congress to devise a plan to avoid the ‘cliff’ as compromises on either side failed to win a majority

Reuters, KAILUA, Hawaii

Obama said he remains committed to working toward a goal of longer-term deficit reduction to reduce chronic US$1 trillion deficits while keeping nearly all tax rates in place.

Neither the House nor the Senate is expected to meet again until after Christmas. Officials in both parties said there was still time to prevent the changes from kicking in in the new year.

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