Current Weather
The Spy FM

‘Fiscal Cliff’ Deadline Looms, But Sense Of Urgency Seems To Be Lacking

Filed by KOSU News in Politics.
December 26, 2012

President Obama is “cutting short” a vacation that he’d already said he would cut short. “See you next week,” he told reporters last week before leaving for Hawaii. The president is now due back at the White House on Thursday, which is pretty much what was expected. His family will stay in Hawaii until after the New Year.

Senators are also coming back to Washington, but many aren’t likely to get to the Capitol until Thursday evening.

And the House? According to The New York Times, “Republican leaders told members last week they would be given a 48-hour notice before they should return, and that notice has not yet been given.”

So, the Times notes, though there’s “so much at stake,” there seems to be “little sense of urgency” when it comes to avoiding a plunge over the so-called fiscal cliff of automatic tax increases and spending cuts due to kick next week as 2012 turns into 2013.

One reason the urgency might not be there is that we’re likely headed for another “kick the can” kind of partial solution, Slate’s Money Box blog says. That’s pretty much what The Wall Street Journal also concludes:

“With so little time, hopes are dimming for anything other than a partial agreement, which would prolong the uncertainty and leave in place some tax or spending measures that act as a serious drag on the weak recovery. This could even trigger another recession, exacerbating the global economic slowdown.”

Which all means we may have to keep posting about this so-called cliff for some time beyond Monday midnight’s supposed deadline. [Copyright 2012 National Public Radio]

Leave a Reply

5AM to 9AM Morning Edition

Morning Edition

For more than two decades, NPR's Morning Edition has prepared listeners for the day ahead with two hours of up-to-the-minute news, background analysis, commentary, and coverage of arts and sports.

Listen Live Now!

9AM to 10AM The Takeaway

The Takeaway

A fresh alternative in morning news, "The Takeaway" provides a breadth and depth of world, national and regional news coverage that is unprecedented in public media.

View the program guide!

10AM to 11PM On Point

On Point

On Point unites distinct and provocative voices with passionate discussion as it confronts the stories that are at the center of what is important in the world today. Leaving no perspective unchallenged, On Point digs past the surface and into the core of a subject, exposing each of its real world implications.

View the program guide!

Upcoming Events in your area (Submit your event today!)

Streaming audio and podcasts

Stream KOSU on your smartphone

Phone Streaming

SmartPhone listening options on this page are intended for many iPhones, Blackberries, etc. with low-cost software applications available to listen to our full-time web streams, both News on KOSU-1 and Classical on KOSU-2.

Learn more about our complete range of streaming services

We're perfecting the patient experience - Stillwater Medical Center