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Democratic and Republican sources involved in negotiations reported some progress Friday toward a potential deal averting the "fiscal cliff" ahead of an afternoon summit at the White House between President Barack Obama and congressional leaders.
President Obama will meet with congressional leaders on Friday in a last-ditch effort to avert a fiscal crisis. The NYT reports.
The program known as TAG, launched to support liquidity and bank stability, was killed thanks to infighting and the calculated indifference of the mega-banks.
"I think the market is going to punish us for our failure to act, and it may be the only thing to get us to act," said Rep. Peter Welch, (D-VT), discussing some of the issues preventing lawmakers from reaching a "fiscal cliff" agreement.
Treasury Secretary Timothy Geithner on Wednesday notified Congress that the U.S. is going to hit the debt ceiling on New Year's Eve.
Sen. Harry Reid, (D-NV) says the Republicans have wasted a week as the U.S. gets closer to going over the "fiscal cliff."
Senate Majority Leader Harry Reid provides an update on "fiscal cliff" talks on Capitol Hill, claiming more Republicans are joining his party's point of view every day.
The FMHR traders place their bets on Apple versus Google. Also, Senate Majority Leader Harry Reid provides an update on "fiscal cliff" talks. CNBC's Eamon Javers provides perspective. And the Fast Money traders have the play on fiscal uncertainty.
Which political party is the biggest obstacle to a "cliff" agreement? Ed Rendell and Judd Gregg, "Fix the Debt" campaign co-chairs, discuss ways to rise above partisan politics and negotiate a debt deal. The "fiscal cliff" is sort of the ultimate forcing mechanism and "Congress needs forcing mechanisms to act," added Gregg.
"We are still waiting for a serious offer from the Republicans," said Sen. Harry Reid, commenting on "fiscal cliff" talks in Washington. CNBC's Eamon Javers reports on what's going on behind the scenes.
PATASKALA, Ohio-- Down to a fierce finish, President Barack Obama accused Mitt Romney of scaring voters with lies on Friday, while the Republican challenger warned grimly of political paralysis and another recession if Obama reclaims the White House. Obama backers shouted as the president campaigned in Ohio.
WASHINGTON, Nov 2- After the Nov. 6 elections, urgent tax and spending issues must be addressed, forcing Washington's power players to make some tough decisions before the end of the year. Regardless of who wins the Nov. 6 presidential election, Obama will be in the White House during the final months of 2012 when the ``fiscal cliff'' must be dealt with.
What makes politics here different is who works in those skyscrapers _ not lawyers or accountants, but heavily unionized housekeepers, blackjack dealers and line cooks who have abruptly transformed Nevada into a swing-voting state. Her youngest daughter will soon graduate from the University of Nevada, Las Vegas. "
BISMARCK, N.D.-- Dwight Thompson is a solid conservative businessman who will be voting for a Republican for president and a Democrat for Senate.
As the presidential election campaign grinds into November, Republican and Democratic lawmakers are busily hammering their own pitons into the fiscal cliff — staking out routes that could either force compromise or snap the economy’s safety lines.
Our biggest challenge is converting the 25 to 35 year old to becoming participants in our industry, "said Brian Gamache, chief executive of slot machine maker WMS Industries Inc at the annual Global Gaming Expo in Las Vegas.
But the chief executives of Las Vegas- based MGM Resorts International and Las Vegas Sands Corp. differed during a keynote panel discussion with four other industry leaders at the Global Gaming Expo about whether states or the federal government are best able to provide oversight.
LAS VEGAS-- With billions of dollars at stake, the head of the gambling industry's main lobbying group sounded a pessimistic note Tuesday about the prospect of Congress passing Internet regulatory laws this year.
LAS VEGAS-- It doesn't look like Congress will pass Internet gambling regulatory laws this year, the head of the industry's main lobbying group said Tuesday, as he cast online wagering hosted by sites overseas as one of the biggest threats to the casino industry in the United States.
WASHINGTON-- House Speaker John Boehner bought stock in two health care companies this year, while third-ranking House Republican Kevin McCarthy bought and sold Apple stock within a few days. The initial disclosures for members of Congress were posted Monday on the Internet. Congress passed the law as part of an effort to repair its sagging public image.