Congress got back to work this week, but Democrats and Republicans are still far apart on how to address the country’s fiscal problems.
House Speaker John Boehner voiced concern that a divided Washington might not be able to reach a deal in time to avoid the looming “fiscal cliff” when a host of tax cuts expire and automatic spending cuts kick in. (Read More:Boehner Says Not Confident About 'Fiscal Cliff'.)
Moody’s Investors Service also said Tuesday the U.S. could lose its triple-A debt rating if budget negotiations next year do not produce policies that over time decrease the country’s debt. (Read More: Budget Talks to Determine US Credit Rating: Moody’s.)