President Barack Obama: Congress

Obama Dept: President Barack Obama's victory on taxes this week was the second, grudging round of a piecemeal battle in as many years over mountainous U.S. deficits, according to Montreal Gazette. Obama signed the bill Wednesday night and hONOLULU, Hawaii - The White House and a divided Congress can now move on to the next fiscal crisis after a last-minute deal to avert the "fiscal cliff" laid the foundation for more combustible struggles over taxes, spending and debt in the next few months. Despite the length and intensity of the debate, the deal to raise the top income tax rate on families earning over $450,000 a year about 1 per cent of households and including only $12 billion in spending cuts turned out to be a relatively easy vote for many members of Congress. This was particularly so because the alternative was to raise taxes on everyone. (www.immigrantscanada.com). As reported in the news.