The atmosphere of battle is all set for the fiscal cliff at Washington. In very recent interview with a news channel Mr. John Boehner from Ohio, being the speaker of the house said that the increases in the tax rates are totally unacceptable. It is very well known that the country is all set to face the “fiscal cliff” which is expected in January next year.
High chances of experiencing again the recession is there due to the confluence of the expiration of the famous Bush tax cuts and the cuts on the spending, which was jointly agreed by both the parties. For a Grand Bargain a divided government needs to be there. As per the declaration made by Mr. Boehner and also the campaign trails made by President Obama, it seems like as if the country is back in the same place as it was always.