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Now, he is headed to the White House, along with other business leaders, to talk about ways to avoid the spending cuts and tax increases set to take effect at the start of next year, according to Bloomberg News.
Mr. Biden's colleagues in the White House have expressed concern that the automatic tax increases set to take effect at the end of the year would depress consumer demand by as much as $200 billion next year.
Moreover, financial turmoil in Europe and the government spending cuts and tax increases set to take effect in January in the United States could set back global growth again.
In the United States, the economy has hit a soft patch, and in a nasty election season the government is heading toward the so-called fiscal cliff, with spending cuts and tax increases set to take effect automatically at the end of the year.
It was the fourth month that Americans adopted a rosier economic outlook, even as financial markets showed increasing anxiety on fear that the spending cuts and tax increases set to take effect in the new year could push the country back into recession.
And the specific mixture of spending cuts and tax increases set to take effect on Jan . 1 unless the two parties can reach a deal, is far more consistent with Mr. Obama's preferred long-term policies than with the Republican version.
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Pilots have offered to accept a 9percentt reduction and forgo a 4.5percentt increase set to take effect next month.
(The additions may ease the pain slightly of the fare increase set to take effect in March).
PAGE A25 Amtrak Delays Fare Increase After an uproar from its most loyal customers, including members of Congress, Amtrak said it would postpone a hefty fare increase set to take effect on Tuesday.
There is apparently little or no interest in doing anything about the unemployment benefits set to expire next year or the payroll-tax increase set to take effect, both of which will have immediate real consequences for millions of people.
As federal law currently stands, some significant tax increases are set to take effect in coming years.
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