Optimism Over Avoiding Fiscal Cliff Dwindling

Friday, November 30, 2012 - 1:11pm

Optimism over avoiding the "Fiscal Cliff" is dwindling on capitol hill as lawmakers admit they've made no "real" progress in two weeks.

Democrats are proposing more than a trillion dollars in tax increases and less than half of that in spending cuts. Republicans want more in cuts less in taxes but say democrats aren't offering anything new.

Economists fear that if a deal isn't reached before January 1, 2013 it could cause another recession.


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