• Text size      
  • Send this article to a friend
  • Print this article

Obama lays out financial plans

PRESIDENT Barack Obama is ready to work with congressional Republicans on a plan to cut deficits – as long it includes higher taxes on the wealthy.

Obama, accused of pushing the country toward the "fiscal cliff", is battling on how best to avoid sharp tax hikes and spending cuts that could plunge the economy back into recession.

He called on Republicans to extend middle-class tax cuts while letting tax rates go up for the wealthy. Obama also wants to find ways to bring down healthcare costs and make cuts to government social safety-net programmes.

Contextual targeting label: 

Commenting & Moderation

We moderate all comments on HeraldScotland on either a pre-moderated or post-moderated basis.
If you're a relatively new user then your comments will be reviewed before publication and if we know you well and trust you then your comments will be subject to moderation only if other users or the moderators believe you've broken the rules

Moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. Please be patient if your posts are not approved instantly.