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Saturday, 01 December 2012 - 20:10
Obama warns of 'Scrooge Christmas'
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US President Barack Obama has warned of a "Scrooge Christmas" if tax breaks are not renewed for working families in a deal to avert a so-called fiscal cliff.

Obama made the remarks as he tried to win public support for his plan on a visit to a toy-maker in Pennsylvania.

But Republican House Speaker John Boehner said talks with the White House had gone "almost nowhere".

He said President Obama's plan to raise 1.6 trillion dollars of revenue over 10 years was not a "serious proposal".

Economists warn, planned tax rises and spending cuts due to take effect on 1st January could send the US back into recession.

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