fiscal cliff

U.S. consumer confidence tumbled in December, driven lower by fears of sharp tax increases and government spending cuts set to take effect next week.

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Progress toward avoiding the "fiscal cliff" seemed stalled Thursday, as the Senate's top Democrat accused Republican House Speaker John Boehner of acting in dictatorial ways that prevent a solution to looming tax hikes and spending cuts.

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Senate Majority Leader Harry Reid says the government appears headed over the so-called fiscal cliff because of a lack of progress in bipartisan negotiations.

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Lawmakers are engaged in a playground game of "who goes first," daring each political party to let the year end without resolving a Jan. 1 confluence of higher taxes and deep spending cuts that could rattle a recovering, but-still-fragile economy.

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President Barack Obama and members of Congress are heading back to Washington -- but that doesn't mean there's hope of a deal to avoid the "fiscal cliff."

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With a year-end deadline looming before the economy goes over the so-called fiscal cliff, President Barack Obama is cutting short his traditional Christmas holiday in Hawaii, planning to leave for Washington on Wednesday evening.

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The economy in the coming new year has one Jersey analyst seeing a, "blizzard of uncertainty." And yes, a lot of it has to do with the fiscal cliff and whether we all go over it.

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Lawmakers say it'll be time to get back to work when they and President Barack Obama return to Washington on Thursday following the Christmas holiday.

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Efforts to save the nation from going over a year-end "fiscal cliff" were in disarray as lawmakers fled the Capitol for their Christmas break. "God only knows" how a deal can be reached now, House Speaker John Boehner declared.

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President Barack Obama says he is "ready and willing" to get a big package done to deal with the "fiscal cliff" and says there's no reason not to protect middle-class Americans from tax increases.

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