Latest 'Fiscal Cliff' News
A list of the most recent stories about Fiscal Cliff.
Projected lower deficit could slow any budget deal
The good news is the budget deficit for the current year is projected to come in well below what was estimated just a few months ago. The bad news for deficit hawks is that the development could further curb the already slowing momentum for a budget pact this year. A ...
Trio of troubles threatening Obama's second term
President Barack Obama seemed to lose control of his second-term agenda even before he was sworn in, when a school massacre led him to lift gun control to the fore. Now, as he tries to pivot from a stinging defeat on that issue and push forward on others, the president ...
Dems, GOP talk up deficit reduction, but don't act
Liberals' loud objections to White House proposals for slowing the growth of huge social programs make it clear that neither political party puts a high priority on reducing the deficit, despite much talk to the contrary. For years, House Republicans have adamantly refused to raise income taxes, even though U.S. ...
Why do I have a smaller paycheck this year?
Even with Congress and President Obama reaching an 11th-hour deal to prevent the country from going over the much-hyped “Fiscal Cliff,” the New Year has brought an increase in taxes for all American families — and for many that means an almost immediate reduction in take-home pay. We checked in ...
Milk could reach $8 a gallon
Milk may reach up to $8 a gallon if Congress does not step in. A farm bill is set to expire, and Congress has been tied up with budget and fiscal cliff discussions, not taking any action on the farm bill. Without the bill, Washington would be forced to buy milk at ...
Obama to press for policy changes after shooting
President Barack Obama is launching an administration-wide effort to curb gun violence, underscoring the growing political consensus over tightening gun restrictions following the horrific massacre at a Connecticut elementary school. Obama is tasking Vice President Joe Biden, a longtime gun control advocate, with spearheading the effort. In remarks from ...
Top 5 tax documents to have on hand before 2013
Although the 2013 ball has yet to drop and your W2 isn’t even in the mail yet, it’s not too early to start prepping your end-of-year documents and reviewing the important items you may need for your 2012 tax filing. If you’re an investor or if you’ve been through a major life change ...
President Obama to kick off fiscal cliff tour Friday in Montgomery Co.
President Barack Obama will begin a different type of campaigning this week in Pennsylvania in an effort to pressure congressional Republicans to work with the White House on a strategy to avoid the pending fiscal cliff. The president will kick off a fiscal cliff tour on Friday in Hatfield, Montgomery ...
What is the 'Fiscal Cliff'?
So just what is this "fiscal cliff" that has the financial markets rattled and economists and policymakers alike in a tizzy over the potential for sending the economy into another tailspin? It's a one-two punch of expiring Bush-era tax cuts and major across-the-board spending cuts to the Pentagon and domestic ...
An explanation of the "fiscal cliff"
WASHINGTON — So just what is this "fiscal cliff" that has the financial markets rattled and economists and policymakers alike in a tizzy over the potential for sending the economy into another tailspin? It's a one-two punch of expiring Bush-era tax cuts and major across-the-board spending cuts to the Pentagon ...
President’s opponents reach out to voters as DNC gets under way
The president's opponents want to make sure their message isn't lost to local voters as the Democratic National Convention kicks into high gear. Eyewitness News was there as buses rolled into Gastonia Tuesday on separate tours. People on both hope to rally support for the president's challengers. Locals cheered loudly ...
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