Washington awakens on New Year’s eve to a daunting reality: If lawmakers and the White House can’t broker a last-minute deal on the fiscal cliff, the country will actually go over it.
It’s not how Americans want to start 2013: with hefty new tax hikes and spending cuts that could send the stock market plummeting, slash defense spending and interrupt an economic recovery that was just beginning to spark.
Source: Politico. Read full article. (link)