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Over the fiscal cliff: Soft landing or dizzy dive?

December 21, 2012 RSS Feed Print

When asked about specific budget cuts being discussed in Washington, few Americans express support for them.

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THE COUNTDOWN

Time for deal-making is short, thanks to the holiday and congressional calendars. Some key dates for averting the fiscal cliff:

— Lawmakers aren't expected to return to the Capitol until after Christmas, leaving less than a week to vote on a compromise before year's end.

— Obama and his family also were leaving town for a Christmas vacation in Hawaii. The president said because the fiscal cliff was still unresolved, he would return to Washington next week.

— If lawmakers reach Dec. 31 without a deal, some economists worry that the financial markets might swoon.

— The current Congress is in session only through noon Eastern time on Jan. 3. After that, a newly elected Congress with 13 new senators and 82 new House members would inherit the problem.

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Associated Press writers Jim Kuhnhenn, Alan Fram and Andrew Taylor and Director of Polling Jennifer Agiesta contributed to this report.

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Follow Connie Cass on Twitter: http://www.twitter.com/ConnieCass

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Tags:
United States,
Associated Press,
politics

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