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 ...
Secret winners in fiscal cliff deal
When lawmakers cut a last minute deal to avoid the fiscal cliff, NASCAR was one of the secret winners. The bill included a tax loophole specially designed to help the racing industry. Even NASCAR gets a special tax break of the construction of new raceways. That will cost an estimated ...
President leaves for holidays, no deal in sight
Next week, America goes over the "fiscal cliff," and it is not likely lawmakers will find a way to avoid the taxes that will hit your paycheck after the first of the year, but they will try on Thursday. Some Republican lawmakers said President Barack Obama wants the country to ...
Fiscal cliff closes in; Obama gives hopeful words before holidays
Before heading to his home state of Hawaii for the holidays, President Barack Obama told members of Congress to cool down, have some eggnog and Christmas cookies, and come back and make a deal. "Nobody can get a 100 percent of what they want and this is not simply a ...
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 ...
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 ...
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