President Barack Obama may be having merry time at Hawaii but he still has been attending to the needs of the nation during his holiday period. He signed a bill during his vacation to push back the looming fiscal cliff threatening the country into another economic crisis and recession. This bill foces more taxes on the wealthiest nationals while saving the rest of the nation from excessive tax burden.

There have been several benefits granted by these bills like extension of expired benefits to the jobless, lower reimbursements to doctors in Medicare, and spending cuts in defense and domestic programs among many others.

The House, led by the Repulicans has approved the bill with a 257-167 vote tally on Tuesday while the Democrats had passed it the day before with a vote tally of 89-8.

Obama signed the deal from Hawaii using the autopen that helped him sign mechanically while being far away.

That's the bright side but several economists say that the deal has several loopholes that shower blessings on major organizations like Wall Street and NASCAR.

(AW- Anil)