Leaders hope to avoid U.S. Fiscal Cliff

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Followed by an hour long meeting held at the White House, the 4 leading congressional leaders termed the meeting a very constructive one and remained optimistic. They are of the opinion that the fiscal cliff can be avoided provided necessary steps taken in time.

Both parties appear to be on same roadmap where the Republicans are now ready to concede the clause where tax revenues are increased and on the other hand the democrats are ready to agree on pending cuts. The two parties are divided in choosing the route achieve this.

In spite of initial solidarity, the two parties are yet to make substantial progress since there are still a number of disagreements.  Major disagreements include whether the tax rates will be raised on the wealthiest Americans.  Days to come will reveal whether Democrats can come to a complete agreement with the Republicans or not.

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