Barack Obama has told NBC's 'Meet the Press' programme that, "what Congress needs to do first and foremost is to prevent taxes from going up for the vast majority of Americans.
"We have been talking to the Republicans ever since the election was over, they have had trouble trouble say 'yes' to a number of repeated offers."
America's financial crisis has been averted, not solved. We've had the fiscal cliff. Now get ready for the debt abyss.
Democrats and Republicans have so far failed to agree on an alternative plan to the tax increases and spending cuts scheduled for January 1.