Fiscal Cliff | featured news

Flush with re-election vigor, President Barack Obama on Friday will provide his first public comments on the upcoming negotiations with Congress on how to deal with pending tax hikes and spending cuts that create the so-called fiscal cliff facing the economy at the end of the year.

House Speaker John Boehner emerged in the aftermath of Tuesday’s presidential election to strike a conciliatory note, offering to work with President Barack Obama on a grand bargain to avert the impact of the coming fiscal cliff.

The top Democrat in Congress called Wednesday for a quick solution to Washington's "fiscal cliff" in an upcoming post-election session of Congress....

Stocks accelerated their post-election sell off across the board Wednesday, triggered by worries over the looming "fiscal cliff" and re-emerging fears over Europe's economy. The Dow fell below 13,000, while the S&P 500 traded under 1,400 for the first time since early September.

Consumers will have to dig deeper into their pockets next year to pay for costlier healthcare, more expensive grocery bills and higher taxes, an extra drag on the country's already slow-moving economy.

Washington is growing increasingly jittery about the prospect of automatic spending cuts decimating federal agency budgets in January. So when President Obama declared in Monday’s debate that the cuts “will not happen,” people took note. Read full article >>

The game of chicken over the nation's impending "fiscal cliff" — the automatic tax increases and spending cuts due if Congress fails to act by year-end — has officially begun. Congressional Democratic leaders made clear Monday that they had no interest in averting the bleak scenario if Republicans continued to refuse to soften their hard-line opposition to higher taxes on wealthier Americans.