With Congress returning from Thanksgiving, here’s the good news for those looking to avoid the “fiscal cliff”: Members of both parties do agree on one LARGE point — taxes for the wealthy should go up.
U.S. lawmakers have made little progress in the past 10 days toward a compromise to avoid the harsh tax increases and government spending cuts scheduled for Jan. 1, a senior Democratic senator said on Sunday.
With the post-election frenzy beginning to subside, it’s time to take a step back and consider what the results will mean for the national and global financial landscape.
Fed chief Bernanke emphasized that the Fed cannot undo the effect of going off the fiscal cliff, with CNBC's Steve Liesman.
"The Pledge"and its creator, anti-tax crusader lobbyist Grover Norquist, have never faced a test as they do now. Some GOP pledge signers say they want out, The New York Times reports.
Some Republicans are resisting the call for a "message overhaul," with Larry Elder, Radio Talk Show host; Igor Volsky, ThinkProgress.org; Mark Simone, WABC Radio Talk Show host; and Phil Musser, former executive director of the Republican Governors Association.
The differences between a Deal Cliff and the No Deal Cliff are about the timing, particulars, and extent of the tax hikes and spending cuts agreed to.
Kathleen Murphy, Fidelity's Personal Investing president, offers tips on preparing your portfolio in case the U.S. goes over the cliff. "You have to save more to stay even," she says.
The U.S. economy is still being "held hostage" in anticipation of a potential compromise on the fiscal cliff. Rep. Adam Schiff (D-CA) says his hope is not to "kick the can down the road." He says he hopes for a more substantive agreement.
Investment strategies in light of a potential tax increase on wealthy Americans, with Katie Nixon, Northern Trust Wealth Management CIO. "The lack of compromise is really what's been driving the uncertainty, and really the volatility, in the market recently," she says.
Rep. John Boehner (R-OH), Sen. Harry Reid (D-NV), Sen. Mitch McConnell (R-KY) and Rep. Nancy Pelosi (D-NY) offer insight on meeting an agreement on the fiscal cliff.
Rep. Peter Roskam, (R-IL), recaps what went on between Congressional leaders and President Obama.
Bethann Bovino, Standard & Poor's, explains what she expects to see in terms of the fiscal cliff.
NBC's Steve Handelsman offers insight on the Benghazi hearing on Capitol Hill.
Is Wall Street overreacting to the "fiscal cliff"? Here's a closer look at the actual threats the policy dilemma presents.
Republican governors who had delayed decisions on setting up health exchanges under Obamacare are now in a bind on the eve of Friday's deadline to do so, The New York Times reports.
It seems Washington underestimated its own dysfunction. The ongoing fight over the fiscal cliff may overshadow everything else as we get closer to the new year. Sadly, compromise seems hard to come by even though the consequences of going over the cliff — hundreds of billions of dollars of spending programs that are set to expire along with the largest tax increase since world war two for virtually all income levels — was specifically designed to force compromise.
Mitt Romney attributed President Obama's victory in part to big policy "gifts" for African-American, Hispanic and young voters, The New York Times reports.
In a challenge to Republicans, President Obama urged Congress to extend expiring tax cuts immediately for all but the wealthiest Americans as a way to eliminate half of the "fiscal cliff" that threatens to send the economy back into recession.
David Cote, chairman & CEO of Honeywell International, says he was encouraged by his meeting with President Obama today on the fiscal cliff.