Stocks tumble for a fifth day as 'fiscal cliff' deadline nears with no deal in sight

Article by: STEVE ROTHWELL , Associated Press
Updated: December 28, 2012 - 10:54 PM

NEW YORK - Stocks fell for a fifth day on concern that Washington lawmakers will fail to reach a budget deal before a self-imposed year-end deadline.

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dlzabzDec. 28, 1211:54 AM

December 31st is a self-imposed deadline that no one in congress will adhere too. The house (which originates revenue bills) will hold the American people hostage until sometime in February when we will reach the debt ceiling. That will also hold up tax returns and early filers due to no AMT fix, cost us $2/gallon more for milk for a couple months.

ghutchDec. 28, 12 5:02 PM

According to the Treasury Department the debt ceiling will affect policy starting Dec 31. Read the letter. Ideologically motivated intransigence by a minority of House Republicans is causing all this anxiety. Time to grow up and get something done, boys.

hunt4foodDec. 28, 12 6:01 PM

The time for REaction is now. The time for action was 6 months ago. Our politicians are disgusting. Both parties.

mlapnorDec. 28, 12 7:14 PM

Tea Party is shovelling the dirt on it's own grave.

theagonybhoDec. 29, 1212:16 PM

You havnt seen anything yet, more to do about the election than the cliff, amazing how its a disaster to raise revenue and cut spending. In other words it would be better to raise 80 billion by taxing the 2% when were running 1.3 trillion a years deficits and cut nothing.