Fiscal Cliff

4:19pm

Mon November 19, 2012
It's All Politics

Fiscal Cliff Siren: Meet The Man Behind The Curtain

Originally published on Mon November 19, 2012 6:28 pm

Peter G. Peterson speaks at the Fiscal Summit in Washington, D.C., last year. The event was sponsored by the Peter G. Peterson Foundation.
Jason Reed Reuters/Landov

Debate over the long-term debt and the annual deficit has dominated the post-election agenda. Both the White House and Congress want to avert massive budget cuts and tax hikes early next year, a situation popularly called the "fiscal cliff."

The challenge has been brewing for years. But its current prominence owes much to the decades-long lobbying of billionaire Peter G. Peterson and his private foundation.

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1:25am

Mon November 19, 2012
It's All Politics

In Fiscal Cliff Talks, Higher Taxes Vs. Closing Loopholes

Originally published on Tue November 20, 2012 8:38 am

President Obama, accompanied by House Speaker John Boehner of Ohio, speaks to reporters at the White House on Friday during a meeting to discuss the fiscal cliff.
Carolyn Kaster AP

The White House and Congress continue to work on a deal that avoids the fiscal cliff and cuts deficits in the long run. One of the biggest hurdles is President Obama's proposal to raise tax rates for the wealthy.

Republicans think a better course would be to raise revenue by closing loopholes and limiting deductions for high-income people. The question is, could that method raise enough money.

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3:25pm

Sun November 18, 2012
Politics

Debt Talks A 'Roosevelt Moment' For Obama

Originally published on Sun November 18, 2012 3:53 pm

President Obama leaves the White House Saturday for a trip to Southeast Asia.
Manuel Balce Ceneta AP

President Obama is now about to enter into a series of difficult talks on the so-called debt ceiling and the impending fiscal cliff. Lawmakers have until Dec. 31 to come up with a deal to prevent $700 billion from being cut from the federal budget.

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5:04am

Sun November 18, 2012
Economy

An Evolutionary Explanation For The Fiscal Cliff

Host Rachel Martin speaks with NPR's Shankar Vedantam about the psychology behind the fiscal cliff negotiations. Vedantam says humans evolved as short-term thinkers, which makes dealing with the long-term problem of the national debt particularly difficult.

3:28am

Sat November 17, 2012
It's All Politics

Obama And Lawmakers' Confidence About Avoiding Cliff Isn't Universal

Congressional leaders after their meeting with President Obama Friday. From left: House Minority Leader Nancy Pelosi (D), Senate Majority Leader Harry Reid (D), House Speaker John Boehner (R) and Senate Minority Leader Mitch McConnell (R).
Jacquelyn Martin AP

As President Obama and congressional leaders started negotiations Friday to find a way to avoid the nation's going over the fiscal cliff, it was fairly plain that even some of those who are wisest in the ways of Washington couldn't agree on whether policymakers would actually be able to prevent the federal government from becoming a cliff diver.

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