It's now widely agreed that steering away from the fiscal cliff — the combination of spending cuts and tax increases set to hit at the start of the year — will require some combination of revenue increases and spending cuts. The central sticking point could well be whether President Obama and Congress can agree on the definition of revenue.
A handful of Republicans in Congress say they won't honor the Grover Norquist-led no-new-taxes pledge if it prevents a deal to avert the fiscal cliff. "Grover still swings a hammer," says one adviser. "There just aren't as many nails." But others think entitlements, not taxes, could be the sticking point.
Comedians Keegan-Michael Key and Jordan Peele have become well-known for their humorous take on race relations. Their video series featuring a cool President Obama and his Vesuvian "anger translator" Luther has become a viral sensation. The duo talks about using comedy to explore touchy racial issues in the 2012 campaign.
The White House issued a short report Monday warning of the risks to holiday spending and the 2013 economy if policymakers fail to reach an agreement to avoid the fiscal cliff. The report seemed aimed at raising pressure on Republicans to strike a deal with President Obama.
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