Sunday, December 30, 2012

President Obama warning of 'self-inflicted wound' to U.S. economy

U.S.President Barack Obama

U.S. Senate leaders groped for a last-minute compromise Saturday to avoid middle-class tax increases and possibly prevent deep spending cuts at the dawn of the new year as President Barack Obama warned that failure could mean a "self-inflicted wound to the economy."

Obama chastised lawmakers in his weekly radio and internet address for waiting until the last minute to try and avoid a "fiscal cliff," yet said there was still time for an agreement.

"We cannot

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