John Ydstie John Ydstie has covered the economy, Wall Street and the Federal Reserve for NPR for nearly three decades.
John Ydstie 2010
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John Ydstie

Sen. Charles Schumer, D-N.Y. (right), shown at a news conference Thursday on Capitol Hill with Senate Majority Leader Harry Reid, is arguing for raising taxes on the wealthy as part of a deal to avoid the fiscal cliff. J. Scott Applewhite/AP hide caption

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J. Scott Applewhite/AP

House Speaker John Boehner of Ohio speaks to reporters on Capitol Hill Thursday after private talks with Treasury Secretary Timothy Geithner. J. Scott Applewhite/AP hide caption

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J. Scott Applewhite/AP

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 hide caption

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Carolyn Kaster/AP

With Congress on the edge of a fiscal cliff, set to occur Jan. 1, some say a fiscal plunge is exactly what's needed to break the political logjam. iStockphoto.com hide caption

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iStockphoto.com

Speaker John Boehner, R-Ohio, said Wednesday that House Republicans are willing to accept new revenues "under the right conditions." J. Scott Applewhite/AP hide caption

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J. Scott Applewhite/AP

The Dublin-based prediction market site Intrade lets users bet money on whom they expect to win a variety of U.S. political races, including the presidential race. NPR/Intrade screen grab hide caption

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NPR/Intrade screen grab

Republican presidential candidate Mitt Romney shakes hands during a rainy campaign rally Monday in Newport News, Va. Evan Vucci/AP hide caption

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Evan Vucci/AP

Romney's Jobs Plan Relies On His Tax Proposal

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President Obama speaks during a campaign event at George Mason University in Fairfax, Va., on Friday. Pablo Martinez Monsivais/AP hide caption

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Pablo Martinez Monsivais/AP