The FISCAL CLIFF is the result of a two-year-old stalemate between U.S. President Barack Obama's administration and Congress over government spending and tax cuts.
Unable to agree on a future plan -- and with Congress unwilling to raise the government's borrowing limit -- both sides agreed in August 2011 to a deadline of Dec. 31, 2012, after which automatic spending cuts would be triggered to deal with the growing U.S. debt load.
In response to a question about civility in politics, Barbara Bush didn't mince words. "I think the rest of the world is looking at us these days and saying, 'What are you doing?'
"I hate that people think compromise is a dirty word. It's not a dirty word." ~ B. Bush
Newly re-elected Democratic President Obama will have to contend with a a very greedy and selfish Republican dominated Congress
AND THAT'S WHEN THE FIGHT STARTED AGAIN...
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