US economy could manage brief fall over 'fiscal cliff'; longer budget impasse would sting

Article by: CHRISTOPHER S. RUGABER , Associated Press
Updated: December 26, 2012 - 11:41 AM

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dlzabzDec. 26, 1211:48 AM

Well, I know personally I'm already trying to spend less. Spent less on Christmas if we go over the cliff I'm dropping out of the housing market. I'm glad congress can cripple the things they want to drive a recovery.

notforwardDec. 26, 1212:48 PM

Perhaps, but would we be in this postion if we had addressed the insane spending under Obama? It doesn't seem if he has quite grasped the math.....five years and counting------------------------------------------- Monthly US budget deficit reaches $172B in November, up 25 percent from a year ago Article by: CHRISTOPHER S. RUGABER , Associated Press Updated: WASHINGTON - The U.S. federal government's budget deficit widened in November compared to October, a sign that the nation is on a path to its fifth straight $1 trillion-plus deficit. The budget gap rose to $172 billion in November, up from $120 billion in October, the Treasury Department said Wednesday. The November deficit was also 25 percent higher than the same month last year. Last month's deficit was pushed higher by a calendar quirk that pulled about $33 billion in benefits payments into November from December. The government finished the 2012 budget year with a deficit of $1.1 trillion. President Barack Obama and Congress are under pressure to curb the deficit as part of a budget deal to prevent tax increases and deep spending cuts from kicking in Jan. 1. ------------------