Latest 'Fiscal Cliff' News
A list of the most recent stories about Fiscal Cliff.
Projected lower deficit could slow any budget deal
The good news is the budget deficit for the current year is projected to come in well below what was estimated just a few months ago. The bad news for deficit hawks is that the development could further curb the already slowing momentum for a budget pact this year. A ...
Trio of troubles threatening Obama's second term
President Barack Obama seemed to lose control of his second-term agenda even before he was sworn in, when a school massacre led him to lift gun control to the fore. Now, as he tries to pivot from a stinging defeat on that issue and push forward on others, the president ...
Dems, GOP talk up deficit reduction, but don't act
Liberals' loud objections to White House proposals for slowing the growth of huge social programs make it clear that neither political party puts a high priority on reducing the deficit, despite much talk to the contrary. For years, House Republicans have adamantly refused to raise income taxes, even though U.S. ...
Why do I have a smaller paycheck this year?
Even with Congress and President Obama reaching an 11th-hour deal to prevent the country from going over the much-hyped “Fiscal Cliff,” the New Year has brought an increase in taxes for all American families — and for many that means an almost immediate reduction in take-home pay. We checked in ...
Ohioans' maximum federal unemployment compensation dropping from 63 to 54 weeks
Ohio's declining unemployment rate will soon trigger a decrease in the amount of federal unemployment compensation available to Ohioans. The number of weeks of unemployment compensation available depends on the state's unemployment rate, which averaged less than 7 percent in September, October and November. That means the maximum amount of ...
No success in fiscal cliff negotiations; residents voice concerns
Residents in the Ohio Valley shared their thoughts on Congress as the nation counts down to the fiscal cliff in about 30 hours. As of Sunday afternoon, senate leaders on both sides reached out to the White House in an effort to break an impasse in their negotiations. "It's a ...
Milk could reach $8 a gallon
Milk may reach up to $8 a gallon if Congress does not step in. A farm bill is set to expire, and Congress has been tied up with budget and fiscal cliff discussions, not taking any action on the farm bill. Without the bill, Washington would be forced to buy milk at ...
Obama to press for policy changes after shooting
President Barack Obama is launching an administration-wide effort to curb gun violence, underscoring the growing political consensus over tightening gun restrictions following the horrific massacre at a Connecticut elementary school. Obama is tasking Vice President Joe Biden, a longtime gun control advocate, with spearheading the effort. In remarks from ...
Union urges lawmakers to end tax cuts for wealthiest Americans
As the end of the year quickly approaches, so does the possibility of the "fiscal cliff." The combination of expiring tax cuts and across-the-board government spending cuts are scheduled to go into effect on Dec. 31, and many experts say they will have a detrimental effect on the U.S. ...
Top 5 tax documents to have on hand before 2013
Although the 2013 ball has yet to drop and your W2 isn’t even in the mail yet, it’s not too early to start prepping your end-of-year documents and reviewing the important items you may need for your 2012 tax filing. If you’re an investor or if you’ve been through a major life change ...
What is the 'Fiscal Cliff'?
So just what is this "fiscal cliff" that has the financial markets rattled and economists and policymakers alike in a tizzy over the potential for sending the economy into another tailspin? It's a one-two punch of expiring Bush-era tax cuts and major across-the-board spending cuts to the Pentagon and domestic ...
An explanation of the "fiscal cliff"
WASHINGTON — So just what is this "fiscal cliff" that has the financial markets rattled and economists and policymakers alike in a tizzy over the potential for sending the economy into another tailspin? It's a one-two punch of expiring Bush-era tax cuts and major across-the-board spending cuts to the Pentagon ...
President’s opponents reach out to voters as DNC gets under way
The president's opponents want to make sure their message isn't lost to local voters as the Democratic National Convention kicks into high gear. Eyewitness News was there as buses rolled into Gastonia Tuesday on separate tours. People on both hope to rally support for the president's challengers. Locals cheered loudly ...
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