December 5, 2012 If Congress fails to reach an agreement on tax increases and spending cuts this year, it will mean sharp reductions in a broad swath of federal spending, from defense and Medicare to education and unemployment benefits. Economists say the cuts would be a serious setback for the economy as a whole.
December 4, 2012 Talks continue about how to avoid automatic spending cuts and expiration of Bush-era tax reductions. If you're trying to keep up on what's going on, here are three more stories you should consider (we won't presume say they're "must reads). Also, two "bonus tracks."
December 3, 2012 Brinkmanship has long been a mainstay in Washington politics, and so it is still. Which is why it might be too early to give up hope that President Obama and congressional Republicans can reach a "fiscal cliff" deal despite how far apart the sides were Monday.
December 3, 2012 The proposal would cut the deficit by $2.2 trillion over the next decade, but Republicans do not increase tax margins for the wealthiest Americans, something the president has said is not negotiable.
December 3, 2012 Obama was asked about tax deductions for mortgage interest and about how much he is willing to give in negotiations with Republicans. The chat is part of the White House's effort to engage the American people in the fiscal cliff debate.
December 2, 2012 Despite differences with Republicans on spending cuts and revenue increases, the treasury secretary said the two sides were "moving closer together" on a solution for deficit reduction. House Speaker John Boehner said he did not share that optimistic assessment.end-of-year deadline
December 1, 2012 The president is using email, social media and public appearances to promote his message in the fight over federal taxes on Capitol Hill. The president hopes the campaign will put pressure on Republican lawmakers to come to a deal that would avoid automatic, across-the-board tax hikes.
November 30, 2012 The White House and congressional leaders continue to talk about taxes, spending cuts and how to avoid an end-of-year deadline — when Bush-era tax cuts are set to expire and automatic spending cuts are set to go into effect.
November 28, 2012 In Washington's latest game of chicken, President Obama is recruiting voters who see things his way to provide an edge in his quest to get congressional Republicans to accept tax increases on the nation's wealthiest. His newest weapon? A Twitter hashtag.
November 27, 2012 It's now widely agreed that steering away from the fiscal cliff — the combination of spending cuts and tax increases set to hit at the start of the year — will require some combination of revenue increases and spending cuts. The central sticking point could well be whether President Obama and Congress can agree on the definition of revenue.
November 26, 2012 The White House issued a short report Monday warning of the risks to holiday spending and the 2013 economy if policymakers fail to reach an agreement to avoid the fiscal cliff. The report seemed aimed at raising pressure on Republicans to strike a deal with President Obama.
November 19, 2012 Debate over the so-called fiscal cliff has dominated the post-election agenda. But the challenge of dealing with long-term debt and the annual deficit has been brewing for years. And one man who has kept his focus and money on that target is the billionaire Peter G. Peterson.
November 19, 2012 The White House and Congress continue to work on a deal that avoids the fiscal cliff and cuts deficits in the long run. President Obama wants to raise tax rates for the wealthy. Republicans want to raise revenue by closing loopholes and limiting deductions for high-income people. But could that raise enough money?