‘Fiscal cliff’ negotiations stall again on question of raising tax rates

The talks between President Obama and congressional Republicans to avoid looming tax hikes and steep spending cuts regressed Monday to the same old sticking point.

Federal Reserve Chairman Ben Bernanke addresses a luncheon gathering of The Economic Club of New York, in New York,  Tuesday, Nov. 20, 2012.  Bernanke on Tuesday urged Congress and the Obama administration to strike a budget deal to avert tax increases and spending cuts that could trigger a recession next year. Without a deal, the measures known as the "fiscal cliff" will take effect in January. (AP Photo/Richard Drew)

Federal Reserve Chairman Ben Bernanke addresses a luncheon gathering of The Economic Club of New York, in New York, Tuesday, Nov. 20, 2012. Bernanke on Tuesday urged Congress and the Obama administration to strike a budget deal to avert tax increases and spending cuts that could trigger a recession next year. Without a deal, the measures known as the "fiscal cliff" will take effect in January. (AP Photo/Richard Drew)

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