November 17, 2012 Fiscal experts at a Washington forum didn't agree on whether the "fiscal cliff" could be avoided. But they generally agreed that there wasn't enough time before the end of the year to resolve all the complex tax and spending issues that needed to be dealt with.
November 16, 2012 President Obama and congressional leaders from both major parties met at the White House for the first of what will likely be many negotiations aimed at averting a plunge over the so-called fiscal cliff. Afterward, Congressional leaders sounded optimistic about the chances for a deal.
November 14, 2012 The newly re-elected president indicated that he, not congressional Republicans, reflected more of the popular will, with his call for higher taxes on the wealthy as part of any agreement to avert the fiscal cliff.
November 14, 2012 As the White House and Congress debate taxes and entitlement reform, an influential liberal think tank is offering what appears to be an olive branch: a plan to squeeze savings out of Medicare — long a target of GOP cuts — that Democrats can support.
November 13, 2012 Virtually everyone agrees that allowing the nation to fall off the so-called fiscal cliff would be a bad thing. Government programs would be cut, taxes would rise, and experts say the economy would fall back into recession. And after all that, the nation still would be dealing with a budget deficit.
November 9, 2012 Post-election Washington is buzzing with talk of compromise and cooperation. Republicans and Democrats want to avoid a looming budget and economic disaster, and their leaders say they're ready to get to work. But some budget experts say it may be necessary to go over the fiscal cliff to reach an agreement.
November 9, 2012 In his first address to the nation since his victory celebration Election Night in Chicago, the president repeated some themes from the campaign: that he wants spending cuts to be balanced with revenue increases. And the wealthiest Americans, he said, must be asked to "pay a little more in taxes."
November 9, 2012 "What you guys have done means the work that I'm doing is important. I'm really proud of that. I'm really proud of all of you," the president says just before a tear comes down his right cheek. It's a rare public show of emotion from "no-drama Obama."
November 8, 2012 In an interview with ABC News, House Speaker John Boehner drew the battle lines over the coming "fiscal cliff" negotiations.
November 7, 2012 With the election behind them, Congressional leaders are now facing automatic spending cuts and tax hikes that economists fear could plunge the economy back into recession. Can they work together to avert disaster?
November 7, 2012 Concerned that the White House and Congress won't be able to agree on how to avoid deep spending cuts and tax increases, many investors sold stocks.