If President Obama and Congress fail to reach a deal on tax and spending changes, the nation would feel a lot of fiscal pain. But it also may benefit from the long-term fiscal restraint that would come from keeping tax hikes and spending cuts in place.
Originally published on Fri December 7, 2012 12:11 pm
It wouldn't be the worst thing that could happen to the country.
If President Obama and Congress can't come to agreement on new tax and spending policies by the end of year, the U.S. could slip into recession, defense and domestic programs will see damaging cuts, and the American people may become convinced that Washington can't govern the nation.
On the other hand, the lack of a deal would do a lot to help erase the federal deficit.
Originally published on Fri December 7, 2012 11:17 am
The bottom line on the fiscal cliff negotiations on Capitol Hill is that things seem far from resolved. As Politico put it, the last we heard is that White House congressional liaison Rob Nabors went to Capitol Hill to tell lawmakers that President Obama is not budging.
If Congress does not come to an agreement, the country is facing steep spending cuts and tax hikes that economist warn could send the economy back into recession.
Originally published on Fri December 14, 2012 9:14 am
For the first time since his exile in 1967, the leader of Hamas, Khaled Meshal, returned to the Gaza Strip today. He arrived through the border with Egypt, kissing the ground in celebration and as NPR's Philip Reeves reports, Meshal received a hero's welcome as well as military one.