Congressional budget experts are offering a dire analysis of what would happen to the economy if the "fiscal cliff" of tax increases and spending cuts can't be averted.
President Barack Obama will make his first post-election comments Friday about actions needed to avoid the so-called fiscal cliff that could plunge the economy back into recession.
Vice President Joe Biden says he and President Barack Obama are anxious to move forward on a bipartisan solution to the looming "fiscal cliff" that could force tax increases and across-the-board spending cuts next year.
Almost every tax cut enacted at the federal level since 2001 is set to expire at the end of this year. According to a new report from the Tax Policy Center, nearly 90 percent of Americans would see their taxes rise if federal lawmakers don't act to renew the tax cuts.