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U.S. President Barack Obama delivers a statement on fiscal cliff at the James Brady Press Briefing Room of the White House December 21, 2012 in Washington, DC. Obama called on congressional leaders to work out a solution on the fiscal cliff over the Christmas break. He also said "becaues we didn't get this done, I will see you next week."
It's beginning to look a lot like a Fiscal Cliffmas!
With the President in Hawaii for the holiday and Congress not due back in Washington until Thursday, time is running out to come up with a deal before 2013. So will the New Year be rung in with streamers and champagne or tax hikes and spending cuts?
To help us answer that question is Dominic Rushe, U.S. Business Correspondent for the Guardian.