'Fiscal Cliff' Deadline Looms, But Sense Of Urgency Seems To Be Lacking | WAMU 88.5 - American University Radio

NPR : News

Filed Under:

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

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. To see more, visit http://www.npr.org/.

NPR

The Perfect Family Book List

For the holidays, critic Alan Cheuse is making up a list of books to give to each of his family members. Only the best of 2014 for them. Here's his picks.
NPR

Guyanese Christmas Gives A Whole New Meaning To Slow Food

Two classic Christmas dishes beloved by the people of Guyana are pepperpot and garlic pork. To get the flavors just right, you have to cook them and let them sit out for weeks.
NPR

With New Congress, Will Obama Work Differently?

The GOP-led Congress President Obama will have to deal with for the last two years of his presidency is a stark contrast to the Democratic-led one he came in with. Does that mean Obama will change his approach to dealing with Capitol Hill?
NPR

2014 Hashtags: #BringBackOurGirls Made Nigerian Schoolgirls All Of 'Ours'

As part of a series on hashtag activism in 2014, Audie Cornish speaks with Obiageli Ezekwesili of the Open Society Foundation. Ezekwesili was one of the early promoters of the hashtag #bringbackourgirls, about schoolgirls kidnapped in Nigeria in April.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.