Barack Obama
Media playback is unsupported on your device
Video

Obama 'optimistic' a fiscal agreement may be reached

US President Barack Obama has said that a potential agreement on the "fiscal cliff" is still being discussed.

He reportedly asked Republican and Democratic leaders to back tax cuts for those earning under $250,000.

They have only four days to reach an agreement before across-the-board tax rises and spending cuts take effect.

Analysts say sliding over the "cliff" could tip the US into recession and set back the global economic recovery.

  • 28 Dec 2012
  • From the section World
Go to next video: What is the US fiscal cliff?