TAKE-A-LOOK-The 'fiscal cliff' in the United States

Unless the U.S. Congress acts first, $600 billion in tax hikes and federal
spending cuts will begin to take effect at the end of the year with a
potentially devastating impact on the economy. The Obama administration and
congressional leaders are attempting to negotiate a deal to avoid the so-called
fiscal cliff and work toward a deficit reduction package in the next session of
Congress that begins in January.> Fiscal cliff and alternative minimum tax