Looming Deadline for Your Taxes

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By News Department

WASHINGTON (AP) - President Barack Obama returns from Hawaii Thursday morning, and he and congressional leaders have yet to agree on how to avoid the so-called fiscal cliff next week that could rattle a recovering, but-still-fragile economy.

Adding to the mix, Treasury Secretary Timothy Geithner says the government is on track to hit its borrowing limit on Monday. Geithner says he's taking steps to prevent that.

Without a deal, higher taxes and deep spending cuts take effect Jan. 1.

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