Obama, House Speaker Take Positions on Budget Before NegotiationsAfter a contentious election, another political battle is brewing in Washington, this one with potentially serious consequences for the U.S. economy. Both sides staked out their positions Friday on what to do about the so-called "fiscal cliff" - a combination of tax hikes and spending cuts that would automatically take place at the end of the year. Economists warn failure by U.S. lawmakers could send the economy into another tailspin.
Fresh from his election victory, President ...
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