Residents Flee Bangui, Capital of Central African Republic


Sia Kambou/Agence France-Presse — Getty Images


Soldiers from Republic of Congo arrived at Central African Republic's capital Bangui Monday. A regional force is bolstering the country's troops.







JOHANNESBURG — As efforts to broker a deal to stop a rebel advance failed, residents of the capital of the Central African Republic were packing up their belongings and fleeing into the country’s vast hinterlands, fearing a major battle between government troops and guerrilla fighters.




Rebels rejected an offer from the country’s president, François Bozizé. It was brokered by the African Union and proposed forming a government of national unity. But the rebels balked, saying that previous agreements with the president had been made and quickly broken.


“Bozizé speaks, but does not keep his word,” said a rebel spokesman, Juma Narkoyo. “That is why we have taken up arms to make our voices heard.”


The rebel coalition, known as Seleka, is made up of several groups of fighters opposed to the government of Mr. Bozizé, who came to power after a brief civil war in 2003 and has had a tenuous grip on the presidency ever since, winning two elections but facing a constant threat of rebellions aimed at toppling him.


The Seleka rebels say that Mr. Bozizé has not lived up to the terms of a peace agreement signed in 2007. Mr. Narkoyo said the rebels had no plans to seize the capital, Bangui, but in the past they have advanced despite claims that they would stay put.


Government officials, meanwhile, said that the rebels were not actually from the Central African Republic, but were instead foreign provocateurs bent on destabilizing one of the most fragile nations in Africa in order to exploit its mineral wealth.


“They are Chadians, Sudanese and Nigerians,” said Louis Oguéré Ngaïkouma, secretary general of Mr. Bozizé’s political party. “It is a conspiracy against the people of the Central African Republic and its president to steal our riches.”


Suspicion of one’s neighbors is no idle thing in this part of Africa, where local wars often become wider conflagrations. The Democratic Republic of Congo, which lies to the south of the Central African Republic, has been caught up in one of the deadliest conflicts of the last half-century as Rwandan, Ugandan and Congolese troops fought over the country’s bounty of diamonds, coltan and tin.


War in Sudan, which lies north of the Central African Republic, has also spilled over into its neighbors, especially Chad, which also borders the Central African Republic.


Hugues Kossi, a college student in Bangui, said he feared all-out war in his city.


“I am afraid of combat and stray bullets,” he said. But he said he was also tired of the poverty and misrule of Mr. Bozizé’s government.


“It is bad governance that has led us to this situation,” Mr. Kossi said.


The United States has closed its embassy in Bangui and evacuated its staff members. The French government has said it will not help Mr. Bozizé fight the rebels, but that it has deployed an extra contingent of soldiers from a neighboring country to help protect French citizens.


Christian Panika contributed reporting from Bangui, Central African Republic.



Read More..

Relive the Paralympics’ Most Inspiring Moment of the Year






Back in July, we covered how social media would be critical to the success of the 2012 Paralympic Games. The Paralympics ended in September, but the International Paralympic Committee is still using the web to shine a light on unheralded athletes and tell stories of remarkable inspiration.


[More from Mashable: Watch the Scariest Skiing Lesson of All Time]






The committee revealed its top moment of 2012 in a video posted to YouTube on Sunday. It profiles Italian cyclist Alex Zanardi winning gold in London after losing his legs in an auto racing accident in 2001. The image of a triumphant Zanardi lifting his hand-cycling tricycle above his head with one arm post-race is nothing short of astounding.


[More from Mashable: NBA Star’s Kick to the Groin Sparks Online Debate]


For a longer look at Zanardi’s amazing achievement and to relive one of 2012′s sweetest sports moments, watch the full video above.


BONUS: 2012′s best sports social media moments


1. Devin McCourty Tweets While Playing in the Super Bowl (Sort of)


As New England Patriot Devin McCourty took on the New York Giants in Super Bowl XLVI, his followers were still able to receive real-time updates from his social feeds. But he wasn’t sneaking tweets between plays or during timeouts. Devin and twin brother Jason, who plays for the Tennessee Titans, share their Twitter and Facebook accounts. The Super Bowl showcased one of the more creative approaches to social media in the sports world.


Image courtesy of Devin and Jason McCourty’s Instagram.


Click here to view this gallery.


Thumbnail image credit Getty Images/AFP/Leon Neal


This story originally published on Mashable here.


Tech News Headlines – Yahoo! News





Title Post: Relive the Paralympics’ Most Inspiring Moment of the Year
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..

Kim Kardashian Steps Out for New Year's Party after Pregnancy Announcement















01/01/2013 at 10:20 AM EST







Kanye West and Kim Kardashian


Denise Truscello/WireImage


The year 2012 was good for Kim Kardashian. But, oh baby, is she ready for 2013! 

"It's been so exciting," she told PEOPLE of the whirlwind of emotions she's felt since finding out she was pregnant. "We're very, very happy." 

With just a hint of a baby bump showing under her form fitting black Julian McDonald dress, the reality star rang in the new year in Las Vegas with the man she's spent 2012 with: Beau and baby daddy Kanye West.

"I wish I could share a drink with you all, but I can't for a little while," she told the crowd at Mirage's 1 OAK just before leading a countdown to 2013. 

With the crowd cheering and confetti flying as the clock struck midnight, Kardashian stood on an elevated banquet adjacent to the deejay booth and passionately kissed West. And for the next 25 minutes, the deejay played nothing but West's songs – much to the delight of his pregnant girlfriend, who smiled and sang along.

As the night continued, the duo rarely left each other's side, with Kardashian dancing behind West while her party sipped Grey Goose cocktails. Kardashian stuck to water as the Grammy award-winning rapper occasionally rubbed her belly.

Her VIP table littered with party hats, streamers and black and gold balloons, Kardashian appeared happy throughout the night, kissing West and chatting with friends and family in attendance, including mom Kris Jenner, longtime friend Brittny Gastineau and Lance Bass.

Now that the new year has begun, Kardashian is working on being healthy for her unborn child. 

"I've felt good. I've felt no morning sickness but it isn't the easiest," she said. "People always say pregnancy is so easy and fun. It's definitely an adjustment; It's learning about your body, but I've felt really good."

While the announcement of Kardashian's pregnancy came as a surprise to a lot of people, she doesn't want to be surprised when it comes the sex of the baby.

She said, "Of course I do want to know!"

Read More..

Clinton receiving blood thinners to dissolve clot


WASHINGTON (AP) — Doctors treating Secretary of State Hillary Rodham Clinton for a blood clot in her head said blood thinners are being used to dissolve the clot and they are confident she will make a full recovery.


Clinton didn't suffer a stroke or neurological damage from the clot that formed after she suffered a concussion during a fainting spell at her home in early December, doctors said in a statement Monday.


Clinton, 65, was admitted to New York-Presbyterian Hospital on Sunday when the clot turned up on a follow-up exam on the concussion, Clinton spokesman Phillipe Reines said.


The clot is located in the vein in the space between the brain and the skull behind the right ear. She will be released once the medication dose for the blood thinners has been established, the doctors said.


In their statement, Dr. Lisa Bardack of the Mount Kisco Medical Group and Dr. Gigi El-Bayoumi of George Washington University said Clinton was making excellent progress and was in good spirits.


Clinton's complication "certainly isn't the most common thing to happen after a concussion" and is one of the few types of blood clots in the skull or head that are treated with blood thinners, said Dr. Larry Goldstein, a neurologist who is director of Duke University's stroke center. He is not involved in Clinton's care.


The area where Clinton's clot developed is "a drainage channel, the equivalent of a big vein inside the skull. It's how the blood gets back to the heart," Goldstein said.


Blood thinners usually are enough to treat the clot and it should have no long-term consequences if her doctors are saying she has suffered no neurological damage from it, Goldstein said.


Clinton returned to the U.S. from a trip to Europe, then fell ill with a stomach virus in early December that left her severely dehydrated and forced her to cancel a trip to North Africa and the Middle East. Until then, she had canceled only two scheduled overseas trips, one to Europe after breaking her elbow in June 2009 and one to Asia after the February 2010 earthquake in Haiti.


Her condition worsened when she fainted, fell and suffered a concussion while at home alone in mid-December as she recovered from the virus. It was announced Dec. 13.


This isn't the first time Clinton has suffered a blood clot. In 1998, midway through her husband's second term as president, Clinton was in New York fundraising for the midterm elections when a swollen right foot led her doctor to diagnose a clot in her knee requiring immediate treatment.


Clinton had planned to step down as secretary of state at the beginning of President Barack Obama's second term. Whether she will return to work before she resigns remained a question.


Democrats are privately if not publicly speculating: How might her illness affect a decision about running for president in 2016?


After decades in politics, Clinton says she plans to spend the next year resting. She has long insisted she had no intention of mounting a second campaign for the White House four years from now. But the door is not entirely closed, and she would almost certainly emerge as the Democrat to beat if she decided to give in to calls by Democratic fans and run again.


Her age — and thereby health — would probably be a factor under consideration, given that Clinton would be 69 when sworn in, if she were elected in 2016. That might become even more of an issue in the early jockeying for 2016 if what started as a bad stomach bug becomes a prolonged, public bout with more serious infirmity.


Not that Democrats are willing to talk openly about the political implications of a long illness, choosing to keep any discussions about her condition behind closed doors. Publicly, Democrats reject the notion that a blood clot could hinder her political prospects.


"Some of those concerns could be borderline sexist," said Basil Smikle, a Democratic strategist who worked for Clinton when she was a senator. "Dick Cheney had significant heart problems when he was vice president, and people joked about it. He took the time he needed to get better, and it wasn't a problem."


It isn't uncommon for presidential candidates' health — and age — to be an issue. Both in 2000 and 2008, Sen. John McCain, R-Ariz., had to rebut concerns he was too old to be commander in chief or that his skin cancer could resurface.


Two decades after Clinton became the first lady, signs of her popularity — and her political strength — are ubiquitous.


Obama had barely declared victory in November when Democrats started zealously plugging Clinton as their strongest White House contender four years from now, should she choose to take that leap.


"Wouldn't that be exciting?" House Democratic leader Nancy Pelosi declared in December. "I hope she goes. Why wouldn't she?"


Even Republicans concede that were she to run, Clinton would be a force to be reckoned with.


"Trying to win that will be truly the Super Bowl," Newt Gingrich, the former House Speaker and 2012 GOP presidential candidate, said in December. "The Republican Party today is incapable of competing at that level."


Americans admire Clinton more than any other woman in the world, according to a Gallup poll released Monday — the 17th time in 20 years that Clinton has claimed that title. And a recent ABC News/Washington Post poll found that 57 percent of Americans would support Clinton as a candidate for president in 2016, with just 37 percent opposed. Websites have already cropped up hawking "Clinton 2016" mugs and tote bags.


Beyond talk of future politics, Clinton's three-week absence from the State Department has raised eyebrows among some conservative commentators who questioned the seriousness of her ailment after she canceled planned Dec. 20 testimony before Congress on the deadly attack on the U.S. diplomatic mission in Benghazi, Libya.


Clinton had been due to discuss with lawmakers a scathing report she had commissioned on the attack. It found serious failures of leadership and management in two State Department bureaus were to blame for insufficient security at the facility. Clinton took responsibility for the incident before the report was released, but she was not blamed. Four officials cited in the report have either resigned or been reassigned.


___


Associated Press writer Ken Thomas in Washington and AP Chief Medical Writer Marilynn Marchione in Milwaukee contributed to this report.


Read More..

Wall Street up slightly in choppy trade over "cliff" worry

NEW YORK (Reuters) - Wall Street mostly edged higher on Monday, with the S&P 500 on track for double-digit gains for the year, as politicians bargained for a deal to avert the "fiscal cliff."


Equities are coming off a five-day streak of losses, driven by the growing concern that there wouldn't be a deal before the midnight deadline to avoid the combination of tax hikes and spending cuts that could force the U.S. economy into recession.


Taxes were set to rise for many Americans this week unless U.S. lawmakers could cut a last-minute deal, an outcome that was possible but seemed unlikely even as the Senate reconvened to continue discussions on the fiscal cliff.


The last trading session of the year is expected to be volatile on low volume and as investors keep a close eye on headlines out of Washington.


"As long as markets think there could be a deal, we should stay higher. Any agreement will be received positively, even if the final agreement is watered down," said David Katz, chief investment officer of Matrix Asset Advisors, in New York.


Despite recent declines over the stalemated budget talks, the S&P 500 is up about 11.8 percent for the year, compared with a nearly flat performance in 2011. The Dow is about 6 percent higher and the Nasdaq is up about 14 percent.


The Dow Jones industrial average <.dji> was down 9.59 points, or 0.07 percent, at 12,928.52. The Standard & Poor's 500 Index <.spx> was up 3.39 points, or 0.24 percent, at 1,405.82. The Nasdaq Composite Index <.ixic> was up 19.47 points, or 0.66 percent, at 2,979.78.


The Dow was nearly flat as consumer discretionary stocks, including McDonald's Corp and Coca-Cola Co , fell, while industrial names like Caterpillar Inc and General Electric rallied more than 1 percent.


Gains in Apple Inc , the most valuable U.S. company, helped lift the Nasdaq. The stock rose 2.6 percent to $522.71, lifting an S&P index of tech shares <.gspt> up 0.6 percent. For the year so far, Apple is up 29.1 percent.


"People are starting to position themselves for 2013, and people are buying Apple now rather than risk a higher tax rate on it next year," Katz said.


Despite the concerns about the impact that going over the fiscal cliff could have on the economy in 2013, investors may be ready to take on more risk next year, in hopes of a greater reward.


Utility stocks were the weakest sector of 2012, with the S&P utility index <.gspu> dropping 4.2 percent for the year.


Bank stocks rose after a New York Times report that U.S. regulators are nearing a $10 billion settlement with several banks that would end the government's efforts to hold lenders responsible for faulty foreclosure practices.


Bank of America Corp was up 0.7 percent at $11.44.


Financial stocks were among the strongest of the year, with the S&P financial index surging 24.5 percent for 2012 so far. Bank of America is the top-performing Dow component, with its stock price more than doubling over the past 12 months.


While midnight is the deadline for a fiscal deal, the government can pass legislation in 2013 that retroactively cancels or moderates the impact of going over the fiscal cliff.


Investors have remained relatively sanguine about the process, believing it will eventually be solved. In the past two months, markets have not shown the kind of volatility that occurred during the fight to raise the debt ceiling in 2011.


Rather, equities have largely performed well in the last two months, buoyed by signs of economic recovery, an improving housing market and monetary policy designed to stimulate growth and lower unemployment.


However, U.S. stocks dropped on Friday, with significant losses in the last minutes of trading, as prospects for a deal worsened at the beginning of the weekend.


On Sunday, President Barack Obama said on NBC's "Meet the Press" that investors could begin to show greater concerns in the new year.


(Editing by Jan Paschal)



Read More..

Ruthless Smuggling Rings Put Rhinos in the Cross Hairs


Joao Silva/The New York Times


A veterinary team removed the horns from a white rhino at a ranch outside Johannesburg, in an attempt to prevent poaching. Rhino horn is valued at nearly $30,000 a pound.







KRUGER NATIONAL PARK, South Africa — They definitely did not look like ordinary big-game hunters, the stream of slender young Thai women who showed up on the veld wearing tight blue jeans and sneakers.




But the rhinoceros carcasses kept piling up around them, and it was only after dozens of these hulking, relatively rare animals were dead and their precious horns sawed off that an extravagant scheme came to light.


The Thai women, it ends up, weren’t hunters at all. Many never even squeezed off a shot. Instead, they were prostitutes hired by a criminal syndicate based 6,000 miles away in Laos to exploit loopholes in big game hunting rules and get its hands on as many rhino horns as possible — horns that are now literally worth more than gold.


“These girls had no idea what they were doing,” said Paul O’Sullivan, a private investigator in Johannesburg who helped crack the case. “They thought they were going on safari.”


The rhino horn rush has gotten so out of control that it has exploded into a worldwide criminal enterprise, drawing in a surreal cast of characters — not just Thai prostitutes, but also Irish gangsters, Vietnamese diplomats, Chinese scientists, veterinarians, chopper pilots, antiques dealers and recently an American rodeo star looking for a quick buck who used Facebook to find some horns.


Driven by a common belief in Asia that ground-up rhino horns can cure cancer and other ills, the trade has also been embraced by criminal syndicates that normally traffic drugs and guns, but have branched into the underground animal parts business because it is seen as “low risk, high profit,” American officials say.


“Get caught smuggling a kilo of cocaine, you will receive a very significant prison sentence,” said Ed Grace, a deputy chief with the United States Fish and Wildlife Service. But with a kilogram of rhino horn, he added, “you may only get a fine.”


The typical rhino horn is about two feet long and 10 pounds, much of it formed from the same substance as fingernails. Yet it can fetch nearly $30,000 a pound, more than crack cocaine, and conservationists worry that this “ridiculous price,” as one wildlife manager put it, could drive rhinos into extinction.


Gangs are so desperate for new sources of horn that criminals have even smashed into dozens of glass museum cases all across Europe to snatch them from exhibits.


“Astonishment and rage, that’s what we felt,” said Paolo Agnelli, a manager at the Florence Museum of Natural History, after three rhino horns were stolen last year, including a very rare one from 1824.


American federal agents recently staged a cross-country undercover rhino horn sting operation, called Operation Crash, “crash” being the term for a herd of rhinos.


Among the 12 people arrested: Wade Steffen, a champion steer wrestler from Texas, who pleaded guilty in May to trafficking dozens of horns that he found through hunters, estate sales and Facebook; and two members of an Irish gang — the same gang suspected of breaking into the museums across Europe.


In an e-mail to an undercover agent, an Irish gangster bragged: “Believe me WE NEVER LOSES A HORN TO CUSTOMS, we have so many contacts and people payed off now we can bring anything we want out of nearly any country into Europe.”


Corruption is a huge element, just like in the illegal ivory trade, in which rebel groups, government armies and threadbare hunters have been wiping out tens of thousands of elephants throughout Africa, selling the tusks to sophisticated criminal networks that move them across the globe with the help of corrupt officials.


Here in South Africa, home to the majority of the world’s last surviving 28,000 rhinos or so, the country is throwing just about everything it has to stop the slaughter — thousands of rangers, the national army, a new spy plane, even drones — but it is losing.


The number of rhinos poached in South Africa has soared in the past five years, from 13 killed in 2007 to more than 630 this year. The prehistoric, battleship-gray animals are often found on their knees, bleeding to death from a gaping stump on their face.


“Ever seen a dead rhino?” said Philip Jonker, who works for a private security firm that has gone into wildlife protection. “It’s worse than going to a funeral.”


Gaia Pianigiani contributed reporting from Rome.



Read More..

Can Samsung survive without Android?






Samsung (005930) is the world’s top Android smartphone vendor by a staggering margin. Aside from LG (066570), which managed a small $ 20 million profit from its mobile division last quarter, no other global Android vendor can figure out how to make money selling Android phones. Meanwhile, Samsung posted a $ 6 billion profit on $ 47.6 billion in sales in the third quarter, thanks largely to record smartphone shipments and a massive marketing budget. Even as industry watchers turn sour on Apple, Samsung is seen steamrolling into 2013 and its stock is up nearly 50% on the year while Apple (AAPL) shares continue to fall from a record high hit in September. As unstoppable as Samsung appears right now, one key question remains: Is Samsung driving Android’s success or is Android driving Samsung’s success? Starting in 2013, we may finally begin to find out.


[More from BGR: Unreleased ‘BlackBerry X10′ QWERTY phone appears again in new photos]






Earlier this year, BGR wrote about Samsung’s effort to look beyond Android. Even with its own UI and application suite — and even with its own content services — Samsung will always rely on Google (GOOG) if it continues to base its devices on Google’s latest Android builds.


[More from BGR: RIM teases BlackBerry 10 launch with image of first BB10 smartphone]


This isn’t necessarily a bad thing, but it means Samsung will never truly control the end-to-end experience on its products. It also means Samsung will never truly own its smartphones and tablets. Instead, Samsung’s devices will deliver an experience that is an amalgamation of Google’s vision and its own.


But there are alternative options. One example is the path Amazon (AMZN) has taken. Amazon let Google do the grunt work and then took its open-source Android OS and built its own software and service layer on top. Kindle Fire users don’t sit around waiting for Android updates — many of them don’t even know they’re using an Android-powered tablet.


Samsung could do the same thing, but there is a great deal of prep work that would need to be done first. Amazon’s efforts were so successful (depending on your measure of success) because the company already had a massive ecosystem in place before it even launched its first device. Streaming movies and TV shows, eBooks, retail shopping and a stocked application store were all available on the Kindle Fire from day one.


Samsung doesn’t have this luxury. Yet.


Samsung could also take ownership of a new OS, and Tizen may or may not end up being that OS. Samsung is co-developing the new Linux-based mobile platform with Intel (INTC) and others, and a new rumor from Japan’s The Daily Yomiuri suggests Samsung plans to launch its first Tizen phone in 2013. “Samsung will probably begin selling the [Tizen] smartphones next year and they are likely to be released in Japan and other countries at around the same time,” the site’s sources claim.


This will be a slow process. If Samsung follows the same path it took with Bada, Samsung’s earlier Linux-based OS that was folded into the Tizen project, things will start out slow as Samsung launches regional devices that are restricted to a few Eastern markets. Testing the waters before dumping serious marketing dollars into the project isn’t a bad idea, especially considering the battle at the bottom of the smartphone OS food chain that will already be taking place in 2013.


But one thing is clear: Samsung is looking to broaden its strategy and move beyond a point where it relies entirely on another company for its smartphone software.


This article was originally published by BGR


Wireless News Headlines – Yahoo! News





Title Post: Can Samsung survive without Android?
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..

Kim Kardashian: From Divorce Drama to Baby Mama in 5 Clicks





Follow her odyssey from her messy split with Kris Humphries to her great expectation with Kanye West








Credit: Prahl/Winslow/Splash News Online



Updated: Monday Dec 31, 2012 | 11:45 AM EST




Subscribe Now




Read More..

FDA approves 1st new tuberculosis drug in 40 years


WASHINGTON (AP) — The Food and Drug Administration on Monday approved a Johnson & Johnson tuberculosis drug that is the first new medicine to fight the deadly infection in more than four decades.


The agency approved J&J's pill, Sirturo, for use with older drugs to fight a hard-to-treat strain of tuberculosis that has not responded to other medications. However, the agency cautioned that the drug carries risks of potentially deadly heart problems and should be prescribed carefully by doctors.


Roughly one-third of the world's population is estimated to be infected with the bacteria causing tuberculosis. The disease is rare in the U.S., but kills about 1.4 million people a year worldwide. Of those, about 150,000 succumb to the increasingly common drug-resistant forms of the disease. About 60 percent of all cases are concentrated in China, India, Russia and Eastern Europe.


Sirturo, known chemically as bedaquiline, is the first medicine specifically designed for treating multidrug-resistant tuberculosis. That's a form of the disease that cannot be treated with at least two of the four primary antibiotics used for tuberculosis.


The standard drugs used to fight the disease were developed in the 1950s and 1960s.


"The antibiotics used to treat it have been around for at least 40 years and so the bacterium has become more and more resistant to what we have," said Chrispin Kambili, global medical affairs leader for J&J's Janssen division.


The drug carries a boxed warning indicating that it can interfere with the heart's electrical activity, potentially leading to fatal heart rhythms.


"Sirturo provides much-needed treatment for patients who have don't have other therapeutic options available," said Edward Cox, director of the FDA's antibacterial drugs office. "However, because the drug also carries some significant risks, doctors should make sure they use it appropriately and only in patients who don't have other treatment options."


Nine patients taking Sirturo died in company testing compared with two patients taking a placebo. Five of the deaths in the Sirturo group seemed to be related to tuberculosis, but no explanation was apparent for the remaining four.


Despite the deaths, the FDA approved the drug under its accelerated approval program, which allows the agency to clear innovative drugs based on promising preliminary results.


Last week, the consumer advocacy group Public Citizen criticized that approach, noting the drug's outstanding safety issues.


"The fact that bedaquiline is part of a new class of drug means that an increased level of scrutiny should be required for its approval," the group states. "But the FDA had not yet answered concerns related to unexplained increases in toxicity and death in patients getting the drug."


The FDA said it approved the drug based on two mid-stage studies enrolling 440 patients taking Sirturo. Both studies were designed to measure how long it takes patients to be free of tuberculosis.


Results from the first trial showed most patients taking Sirturo plus older drugs were cured after 83 days, compared with 125 days for those taking a placebo plus older drugs. The second study showed most Sirturo patients were cured after 57 days.


Read More..

Obama says failure to reach fiscal deal would hurt markets


WASHINGTON (Reuters) - Financial markets would be affected adversely if U.S. lawmakers fail to agree on a "fiscal cliff" deal before Tuesday, President Barack Obama said in an interview broadcast on Sunday, while urging Congress to act quickly to extend tax cuts for middle-class Americans.


Lawmakers are seeking a last-minute deal that would set aside $600 billion in tax increases and across-the-board government spending cuts that are set to start within days. If Congress does not make that happen, the first bill brought up in the new year would be to reduce taxes for middle-income families, Obama told NBC's "Meet the Press."


"Now I think that over the next 48 hours, my hope is that people recognize that, regardless of partisan differences, our top priority has to be to make sure that taxes on middle-class families do not go up. That would hurt our economy badly," Obama said in the interview taped on Saturday.


"We can get that done. Democrats and Republicans both say they don't want taxes to go up on middle-class families. That's something we all agree on. If we can get that done, that takes a big bite out of the 'fiscal cliff.' It avoids the worst outcomes," Obama added.


Low income tax rates first put in place under Republican former President George W. Bush are due to expire at the end of the day on Monday - the last day of 2012.


Obama said that failing to reach a deal would have a negative impact on financial markets.


"If people start seeing that on January 1st this problem still hasn't been solved, that we haven't seen the kind of deficit reduction that we could have had had the Republicans been willing to take the deal that I gave them ... then obviously that's going to have an adverse reaction in the markets," he said.


RARE SENATE SESSION ON SUNDAY


Obama met with congressional leaders at the White House on Friday and declared himself cautiously optimistic about the chances of an agreement, but he noted in the interview that nothing had materialized since then.


"I was modestly optimistic yesterday, but we don't yet see an agreement. And now the pressure's on Congress to produce," he said.


The Senate is scheduled to hold a rare Sunday session beginning at 1 p.m. EST (1800 GMT), but it was not clear whether the chamber would have fiscal-cliff legislation to act upon.


Obama sketched out what he believed to be the most likely scenarios the end the back-and-forth between both sides. Either the congressional leaders would come up with a deal, or Democrats in the Senate would bring a bill to the floor seeking an up-or-down vote to extend tax cuts for middle income earners.


"And if all else fails, if Republicans do in fact decide to block it, so that taxes on middle class families do in fact go up on January 1st, then we'll come back with a new Congress on January 4th and the first bill that will be introduced on the floor will be to cut taxes on middle class families," he said.


Obama chided Republicans for resisting his call for tax rates to go up for the top two percent of U.S. earners despite what he viewed as significant compromises on his part to cut spending and reform expensive social programs for the poor and elderly.


"They say that their biggest priority is making sure that we deal with the deficit in a serious way, but the way they're behaving is that their only priority is making sure that tax breaks for the wealthiest Americans are protected. That seems to be their only overriding, unifying theme," Obama said.


"The offers that I've made to them have been so fair that a lot of Democrats get mad at me. I mean I offered to make some significant changes to our entitlement programs in order to reduce the deficit," he said.


(Reporting by Jeff Mason; Editing by David Brunnstrom)



Read More..