The Obamas flew from their Chicago base, arriving at Andrews Air Force Base about 18:30.

 

He needs to work with Republicans in Congress to confront a looming² "fiscal³ cliff" of tax rises and spending cuts.

 

The Republicans retained control of the House of Representatives on Tuesday, but failed to take the Senate.

 

In his state-by-state battle with Republican Mitt⁴ Romney, Mr Obama has so far won 303 electoral college votes to Mr Romney's 206, past the 270-vote winning post.

 

In Florida, a state with 29 electoral votes, absentee ballots⁵ are still being counted and the race remains⁶ too close to call.

 

Before Mr Obama's Washington return on Wednesday, House Speaker John Boehner hinted at the possibility of a compromise if the president agreed to tax reform.

 

Mr Boehner, who negotiated with Mr Obama over a so-called "grand bargain" of spending cuts and new revenues in 2011, said he would accept new revenue-raising as part of a tax reform deal.

 

Time is tight: Bush-era tax cuts are due to expire at the end of 2012, and automatic, mandatory⁷ across-the-board cuts to military and domestic spending are also in the pipeline⁸ unless a deal can be reached.

 

Economists⁹ say the overall effect of falling off the "fiscal cliff" could tip the US into recession.

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