With the election over, the "fiscal cliff" is the next big political topic for discussion.
Put simply, if a deal's not reached all those cuts to defense etc. go into place Jan 1, and the Bush tax cuts expire for everyone.
Only news thus far is Boehner is expressing some willingness to additional revenue. But his statements are pretty wishy washy and seem more in the direction of closing loopholes etc., rather than say letting the Bush tax cuts expire for the $250k and above households.
http://www.washingtonpost.com/busin...12c5ce-2919-11e2-b4e0-346287b7e56c_story.html
http://www.nytimes.com/2012/11/08/u...ng-table-with-fiscal-cliff-dead-ahead.html?hp
Put simply, if a deal's not reached all those cuts to defense etc. go into place Jan 1, and the Bush tax cuts expire for everyone.
Only news thus far is Boehner is expressing some willingness to additional revenue. But his statements are pretty wishy washy and seem more in the direction of closing loopholes etc., rather than say letting the Bush tax cuts expire for the $250k and above households.
http://www.washingtonpost.com/busin...12c5ce-2919-11e2-b4e0-346287b7e56c_story.html
http://www.nytimes.com/2012/11/08/u...ng-table-with-fiscal-cliff-dead-ahead.html?hp
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