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Obama says failure to reach fiscal deal would hurt markets

Financial markets would be affected adversely if U.S. lawmakers fail to agree on a "fiscal cliff" deal before Tuesday, President Barack Obama said in an interview broadcast on Sunday, while urging Congress to act quickly to extend tax cuts for middle-class Americans.


Two-part 'fiscal cliff' deal taking shape

Fiscal Cliff

The outline of a compromise over upcoming federal tax hikes and spending cuts began to come into focus Friday after President Obama convened congressional leaders at the White House.


Obama Meeting Top Lawmakers in Tough Deficit Talks

Congressional leaders of both parties will meet with the president in an effort to reach a deal to avoid across-the-board tax increases and spending cuts that could push the economy into recession.


Relaxed yet feisty, Obama lays out second-term agenda

...In his first full-scale news conference since March, Obama said he was willing to compromise with Republicans to forge a deal on the nation's debt and taxes to avoid the "fiscal cliff," a combination of budget cuts and tax increases that will kick in next year if such an agreement is not reached.


Obama pressing business and labor on fiscal cliff

Barack Obama

President Barack Obama is lobbying business and labor groups to support his plan to avoid an impending fiscal cliff, telling the two sides he remains committed to requiring the wealthy to pay more in taxes.


Budget deficit rises to $120 billion in October

The budget deficit rose in October, the first month of fiscal year 2013, as looming negotiations over expiring tax cuts and imminent spending reductions dominated the post-election political landscape.


Congress comes back Tuesday to confront "fiscal cliff"

Fiscal Cliff

Amid a global fright over Washington's political brinkmanship, U.S. lawmakers return to the capital on Tuesday with a seven-week deadline to reach agreement on scheduled tax hikes and budget cuts that threaten to trigger another recession.


Editorial Board: Mr. Romney’s tax plan still doesn’t add up

The Tax Policy Center, analyzing that proposal, found that it would close only $1.3 trillion of Mr. Romney’s newly dug revenue hole. And no matter how many times the Romney campaign insists that independent studies “have demonstrated the Romney plan works,” that simply isn’t true — not with the parameters (revenue neutrality and no tax increases for those making less than $200,000) that Mr. Romney has set, and not unless you assume economic growth far greater than that predicted by Mr. Romney’s own advisers.


Huge tax increase looms at year-end 'fiscal cliff'

A typical middle-income family making $40,000 to $64,000 a year could see its taxes go up by $2,000 next year if lawmakers fail to renew a lengthy roster of tax cuts set to expire in December, according to a new report Monday.


The Numbers Don't Lie-Why Lowering Taxes For The Rich No Longer Works To Grow The Economy

Ronald Reagan wearing cowboy hat at Rancho del Cielo. (Photo credit: Wikipedia) Since the arrival of President Ronald Wilson Reagan, it has become a matter of conservative orthodoxy that tax cuts for the rich will, inevitably, lead to economic prosperity.


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