U.S. Senate
(Wikipedia Commons)
The big issue facing Congress as it gets back to work is the so-called 'fiscal cliff.' To that extent, nothing is going to get much of a look in unless a deal is reached on a range of laws which, if unchanged by the end of the year, will result in tax increases and massive spending cuts.
The policy differences between the Republicans and Democrats are endless, but the ways forward are pretty limited. Todd Zwillich, The Takeaway's Washington correspondent, explains.
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Comments [2]
Hi Todd, Just saw you on the news hour giving your assurance that the markets "wont tank" if congress lets the budget go over the "fiscal cliff". I think you have an inflated view of your ability to predict what the markets will/will not do in any circumstances.
Higher taxes for those earning over $200,000 doesn't even begin to tackle this massive debt run up by this President in just the last four years. It is completely unserious and wholly political. Clearly this President and his progressive cheerleaders think their supporters are stupid.
The real money is in the revenue code and it should frighten everybody. The real money is the in 401Ks, retirement accounts and other tax shelter accounts that the middle-class and poor have spent decades saving.
You don't think Obama and his minions are just going to let all that money just sit there untouched, do you?
This is what you voted for people. Must we now hide our retirement money in the mattress while the media does it's best to distract us?
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