Fiscal Cliff

4:00pm

Wed December 5, 2012
It's All Politics

Obama And House GOP Engage In Fiscal Cliff Talks, Only Briefly With Each Other

Originally published on Wed December 5, 2012 4:30 pm

President Obama is introduced to the Business Roundtable by Boeing CEO Jim McNerney in Washington on Wednesday.
Charles Dharapak AP

The president and House Republicans continued to snipe at each other Wednesday over the impending set of automatic tax hikes and spending cuts known as the fiscal cliff. They traded accusations and blame during another day with plenty of talk, but — until late in the day, at least — no negotiations.

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3:52pm

Wed December 5, 2012
It's All Politics

Looming Spending Cuts Would Hit Hard All Over

Originally published on Wed December 5, 2012 4:09 pm

Alan Krueger, chairman of the president's Council of Economic Advisers, warns that consumer spending will drop if Congress and the White House fail to reach a deal on spending cuts and tax increases.
Jewel Samad AFP/Getty Images

Tax increases are only a part of what lies ahead if Congress can't come to an agreement to avert the fiscal cliff by the new year. Massive spending cuts will also kick in — and those cuts will be felt throughout the economy.

The current stalemate got under way two years ago when Congress, locked in a bitter partisan battle over whether to extend the George W. Bush-era tax cuts, passed what was known as the Budget Control Act of 2011.

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2:50pm

Wed December 5, 2012
The Two-Way

For The Aerospace Industry 'Fiscal Cliff' Represents A Red Alert

Originally published on Wed December 5, 2012 3:05 pm

It's red alert time for aerospace industry executives, workers and contractors.

As they mingled today at the Aerospace Industries Association's annual Year-End Outlook luncheon at a Washington Grand Hyatt, the bright red electronic digits kept counting down for them.

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5:01pm

Tue December 4, 2012
Politics

Social Security's COLA At Stake In 'Fiscal Cliff' Talks?

Originally published on Wed December 5, 2012 8:34 am

The Republican plan to avert the "fiscal cliff" that the White House rejected Monday includes at least one element that's likely to produce controversy: a proposal that would, among other things, affect the cost of living adjustment for Social Security.

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3:15pm

Tue December 4, 2012
Shots - Health News

The Perilous Politics Of The Health Insurance Tax Break

Originally published on Tue December 4, 2012 4:50 pm

MIT health economist Jonathan Gruber, who explained the ins and outs of health overhaul in a comic book, says that excluding the value of health insurance from federal taxes is a terrible idea, at least from an economist's point of view.
Macmillan

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