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 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.

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