News
Market Watch | What a fiscal-cliff plunge would cost you
Of course, most experts still think lawmakers will eventually reach some sort of deal (or at least kick the can further down the road). If that happens, some but not all of these tax hikes are still likely to go into effect as part of any deal to fix the nation’s giant budget deficit. But just which ones is anybody’s guess.
CNN Money | Fiscal cliff will roil state budgets
States would see massive cuts in federal spending should the nation fall over the fiscal cliff, according to a new report. But they could also see their tax revenue jump as federal tax rates rise.
Politico | Opening gambit on fiscal cliff negotiations
After months of talking about the fiscal cliff publicly, President Barack Obama and congressional Republicans finally expect to get down to business privately on Friday. Sort of.
CNBC | Obamacare, Host of Others Need Slashing: Simpson-Bowles
Americans interested in getting the national debt crisis under control likely will have to endure cuts to popular programs like defense, Social Security — and the nationalized health insurance program known as Obamacare.
CNN Money | Postal Service posts record $16 billion loss for 2012
The U.S. Postal Service announced a record loss of $15.9 billion for the fiscal year 2012, which it blamed primarily on a mandate to set aside billions of dollars for a retirement heath fund.
Econ Comments & Analysis
WSJ | How to Get to a Grand Bargain
It is unrealistic to think that Congress could negotiate a far-reaching fiscal "grand bargain" during its brief lame-duck session this winter. Lawmakers' first order of business, then, should be to postpone all elements of the Jan. 1 fiscal cliff—spending cuts, revenue increases and the debt limit—for three months, until March 31. This would provide Washington enough time to negotiate a responsible compromise.
Blogs
WSJ | IMF Draws Line in Sand on Greek Debt
The International Monetary Fund drew a line in the sand on Greek debt negotiations Thursday, saying the fund’s European bailout partners must do more to cut the ailing country’s debt for the sake of the global economy and the fund itself can’t offer any better loan terms.
