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    Obama set to launch last-chance budget talks

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    Al Jazeera English

    by Al Jazeera English

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    US President Barack Obama and legislators are set to launch a last-chance round of budget talks, days before a New Year's deadline to reach a deal or watch the economy go off a "fiscal cliff".
    Obama and Joe Biden, the vice-president, will meet congressional leaders from both Democrat and Republican parties at the White House on Friday to try to revive negotiations to avoid tax hikes and spending cuts - together worth $600bn - that will begin to take effect on January 1.