US President Obama optimistic of averting “fiscal cliff” crisis

US President Barack Obama said that he is “modestly optimistic” of the fact that a way out of the problem of “fiscal cliff” facing the US economy is possible. President Obama said, “The American people are watching what we do here – obviously their patience is already thin”.

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Though Senate leaders are working on to find a solution to the “fiscal cliff”, President Obama said that even if the deal could not be reached, he would get the Congress to vote and prevent the tax rates from going up. Analysts have already warned that if US fails in dealing with the problem, the US risks falling into recession once more and delay the global economic recovery.


Source: BBC


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