Obama cuts vacation short as 'fiscal cliff' looms

HONOLULU (AP) — With a yearend deadline looming before the economy goes over the so-called fiscal cliff, President Barack Obama is cutting short his traditional Christmas holiday in Hawaii, planning to leave for Washington on Wednesday evening.

Obama was expected to arrive in Washington early Thursday, the White House said late Tuesday. First lady Michelle Obama and the couple's two daughters are scheduled to remain in Hawaii until Jan. 6.

In the past, the president's end-of-the-year holiday in his native state had stretched into the new year. The first family left Washington last Friday night.

Congress was expected to return to Washington on Thursday. Before he departed for Hawaii, Obama told reporters he expected to be back in the capital this week.

Without action by Obama and Congress, automatic budget cuts and tax increases are set to begin in January, which many economists say could send the country back into recession. So far, the president and congressional Republicans have been unable to reach agreement on any alternatives.