December 11, 2012 |
American small business owners are in a sour mood, with optimism at one of its lowest levels since 1986, but don't blame Superstorm Sandy. It's the fiscal cliff's fault, according to a new report from the National Federation of Independent Business. The threat of major spending cuts and tax hikes in the new year has caused a forward-looking gauge of Main Street sentiment to plummet. The election and the looming implementation of President Obama's health coverage overhaul is also weighing on small business owners, according to the report.
December 26, 2012 |
WASHINGTON -- Americans are increasingly doubtful that Congress and the White House will reach a budget deal as the deadline to the "fiscal cliff" approaches, according a new poll, though more said they still think a compromise will eventually be formed out of the fight. According to Gallup , just 50% of those polled said they think President Obama and Congress are at least somewhat likely to reach a budget compromise, down from a high of 59% on Dec. 9. An increasing number, 48%, said they see no resolution before a deadline of Jan. 1. The cliff, that self-imposed deadline set in place last year to force a deal on government expenditures and revenues, would institute broad spending cuts across government programs and allow President George W. Bush's tax cuts to expire.
December 31, 2012 |
WASHINGTON - As negotiators closed in on a tax-and-spending deal to avert the “fiscal cliff,” President Obama delivered a nationally televised plea Monday for a final push by Congress in the hours remaining before midnight Monday when taxes are set to increase. “They're close, but they're not there yet,” Obama said, referring to bipartisan talks led by Vice President Joe Biden and Senate Republican leader Mitch McConnell of Kentucky. The president added, “if there's one second left” before Congress has to act, “they will use that last second.” Among the issues left to be resolved, he said, confirming earlier news reports, is an agreement that would delay across-the-board spending cuts, which would otherwise go into effect on Wednesday.
December 19, 2012 |
SAN DIEGO - Vicky Geron's restaurant a few blocks from the gates of the naval base here and the 86-acre Nassco shipbuilding yard depends on the weekday lunch crowd, split evenly between sailors and defense contractors. Geron said her recession-battered Mexican eatery in this industrial stretch of the Barrio Logan neighborhood could be closed down if the country fails to avoid the "fiscal cliff" - the triggering of automatic defense cuts along with tax hikes - because no deal was reached on the federal budget.
December 16, 2012 |
It's no secret that Senate Republicans, led by John McCain, took aim at Susan Rice. The only question is, why? It wasn't primarily her views on foreign policy; Rice and McCain actually aren't that far apart on many issues. (They both pressed for U.S. intervention in Libya's civil war, for example.) Officially, the GOP crusade against Rice was over her statements on what Washington calls simply "Benghazi," the Sept. 11 attack on a U.S. consulate that left four Americans dead. But the controversy over Rice's recitation of White House talking points on Sunday television shows was flimsy at best.
December 26, 2012 |
Feeling guilty about overspending this holiday season? Stop. Not only did your role as a consumer help the economy -- though, as a whole, we could have done better and might have if we weren't so freaked about going over the "fiscal cliff" -- but spending money is good for your well-being. Does that mean money actually can buy happiness? Absolutely, reports AsapSCIENCE -- if it's spent the right way. “Instead of buying things for yourself, try giving some of it to other people and see how you feel,” says the narrator in the Dec. 20 AsapScience video.