No new fiscal cliff talks planned

Efforts to avoid the looming US fiscal cliff were thrown into disarray yesterday as members of Congress left Washington for Christmas…

Efforts to avoid the looming US fiscal cliff were thrown into disarray yesterday as members of Congress left Washington for Christmas even as the year-end deadline for action edged ever closer.

No new negotiations were scheduled between Republicans, congressional Democrats and the White House to reach a deal to prevent a fiscal calamity in 10 days.

“How we get there, God only knows,” House of Representatives Speaker John Boehner told reporters when asked about a possible comprehensive fiscal cliff solution.

Mr Boehner’s own Plan B option collapsed in a dramatic heap on Thursday night when he failed to rally the support of his fellow House Republicans.

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If there is no agreement, taxes would go up on all Americans. – (Reuters)