Today in fiscal cliff news: With just five days left before the year-end “fiscal cliff” and pessimism mounting that a deal to avert it can be reached, President Obama returned to Washington on Thursday in an effort to jump-start talks after placing late-night calls to Congress’s four top leaders. [WP POLITICS]
HEADLINES
- The price of failure on the fiscal cliff
THE FIX | With a deal looking less and less likely, there’s plenty of blame to go around and The Fix team breaks down where the blame may land.
» Read full article - Hey, America! Republicans want to raise your taxes
WONKBLOG | The big lie of the fiscal cliff is that the argument is between Democrats who want to raise your taxes and Republicans who want to cut your taxes. That’s wrong. Republicans want to raise taxes on more people than the White House does.
» Read full article - U.S. will hit debt limit on Dec. 31, Treasury Department says
The U.S. government will hit the $16.4 trillion federal debt limit Monday and turn to “extraordinary measures” to continue borrowing, the Treasury Department said Wednesday, beginning a countdown until Congress either passes legislation to allow for more borrowing or the government defaults on its debt.
» Read full article
FEATURED CONTENT
Video: Starbucks message to Congress: ‘Come together’ on cliff
The world’s largest coffee chain is sending a message to Congress about the “fiscal cliff.”
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