Obama cuts Hawaii trip short to address "fiscal cliff"

President Barack Obama, First Lady Michelle Obama disembark Air Force One with daughters Sasha and Malia at Joint Base Pearl Harbor-Hickam on December 22, 2012 in Honolulu, Hawaii. The president and his family are spending the Christmas holiday in Hawaii, Obama's birthplace. / Cory Lum-Pool/Getty Images

KAILUA, Hawaii President Barack Obama is cutting short his traditional Christmas holiday in Hawaii to return to Washington as lawmakers consider how to prevent the economy from going over the so-called fiscal cliff, the White House said Tuesday.

Obama will fly back to the nation's capital Wednesday night, just five days after arriving in Hawaii, White House officials said. In the past, the president's end-of-the-year holiday in his native state has stretched into the new year.

Congress is expected to return to Washington on Thursday. Automatic budget cuts and tax increases are set to begin in January. So far, the president and congressional Republicans have been unable to reach agreement on any alternatives.

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Seven days 'til the "fiscal cliff"

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The Obamas in Hawaii

CBS News correspondent Nancy Cordes reported earlier Tuesday that the president will likely put pressure on Congress to pass a Democratic plan being drafted by Senate Majority Leader Harry Reid.

"There still have been no conversations between Democrats and Republicans Tuesday on how to avert the fiscal cliff," Cordes reported from Hawaii. "That's a sure sign that Reid is working on crafting legislation on his own, which he'd essentially dare Republicans in the House and Senate to pass just before the deadline."

Cordes notes that Reid's bill would likely extend the Bush-era tax cuts for households making less than $250,000 a year. It may also include enough short-term spending cuts to temporarily offset, for about six to eight months, the across-the-board spending cuts set to go into effect on January 1, 2013.

Lawmakers have expressed little but pessimism for the prospect of an agreement coming before Jan. 1. On Sunday, Sen. Kay Bailey Hutchison, R-Texas, said she expects any action in the waning days of the year to be "a patch because in four days we can't solve everything."

The Obamas were spending the holiday at a rented home near Honolulu. On Christmas Day, the president and first lady Michelle Obama visited with Marines to express thanks for their service.

"One of my favorite things is always coming to base on Christmas Day just to meet you and say thank you," the president said. He called being commander in chief his greatest honor as president.

Obama took photos with individual service members and their families.

[samXXkiley]

coucou,
it is their duty, after all President Obama and congress are in the service of citizens.
"au revoir"

[mjvwsr]

Did they ban spinner? Can't seem to find any of his/her spam.

[hillzagain]

I can guarantee you one thing - spinner will be back spamming in full force under another name by nightfall.

For spinner, spamming is a form of self gratification. Can't help himself.

[OldTimeTruth]

Hope Obama and his family had a good time. He deserves it after everything he has gone though the last four years. By the way, times are better then they were 4 years ago. Thats just for you GOP and Tea baggers out there that got us into the mess in the first place. By the way I have not heard much on George Bush Jr. He still must be hiding in shame in Texas collecting his taxpayers retirement and insurance. Guess all you tea people need to yell about that one to.

[hillzagain]

Astonishing (but predictable) that you were able to segway your comment to include the standard Bush Bash. FYI - Bush's presidency ended a few years ago. Looks like your cup of discontent has a healthy head of Froth.

[alanrobisch]

oldtimetruth you are parrotting falsehoods. The tea party did not create the mess nor did george bush. It was a long time coming and had much to do with fannie mae and freddie mac encouraging and supporting the idea that the banks could make money out of bad loans. They insured the bad loans so the banks felt they could make bad loans and suffer no consequences. Obama is a economic illiterate and had no clue how to solve the problem if the govt could solve the problem. His solution was to spend vast amounts of money to help those affected by it and also help his political croney's. What happens if in spite of this we could into another decline which is just about a gaurantee where will the money come from?

[john92021]

I keep thinking about that commercial with the pig on the skateboard with the pinwheels going whee whee whee down the hill.

[john92021]

they're all getting their sleighs ready because the stock market is going to tank and then the dollar will tank. Long ride ahead.

[logictoo]

I thought Occupy Wall Street wanted the the Stock Market to go belly up. The President supports the Occupy Movement. I thought they were the 99%, the 99% which includes mainstream America. Won't effect me I am in the 47%.

[newz4me]

Members of congress. There's someone waiting for you back in D.C. Time to head back.

[FP1970]

Of course. He has to get in there and fight for entitlements for illegal invaders at the expense of American taxpayers. It's the least he can do after they helped him win the election. Don't worry, Mexicans, if there's not enough money in the kitty, and there never is, Obama will re-define the meaning of "rich" downwards every year until massive tax increases apply to virtually all employed Americans.

[Socialistnation]

Retail Holiday sales lowest since 2008.....

This is Obama's America.

[Socialistnation]

INFANTRYMAN11B1968

Bought (2) this Christmas, A Ruger and a Sig....

Lots of Ammo as well.

[opedanderson2]

Obama supporters think he walks on water so there is no talking to them. GOPrs who struggle to compete with that worship by being "Obama-lite" are not going to get support from their conservative members, so they are out.

The only hope here is that there is enough common sense and enough desire for self preservation among the POTUS and Congress that someone will blink.

But Im not hopeful....

[collie61]

Let me understand the Obama and democratic economics. If you are in debt, go out the take money away from people who worked hard, saved and wisely invested. Take that money and give it to those who are lazy and who want everything without working for pay for it. Yeah, makes sense. Keep up the good work, China is laughing all the way to the bank.

[NBGerry]

Spinner I couldn't agree more! Luckily those evil bush tax cuts will be history in a few days and I know you'll join me in breathing a sigh of relief of never having to rant: "the bush tax cuts that only benefitted the wealthy".

You do agree this is a good thing, right spinner?