US President Barack Obama arrive on stage after winning the 2012 US presidential election November 7, 2012 in Chicago, Illinois.

Will Obama and Congress Avoid the Fiscal Cliff?

Money Talking | Nov 8, 2012

With President Barack Obama reelected to a second term and Congress set to reconvene after Veterans Day, all eyes in Washington are set on the January 1 fiscal cliff when billions in spending cuts and tax increases will go into effect.

Addressing reporters on Capitol Hill Wednesday, House Speaker John Boehner spoke of bipartisanship and went on to say he wants to act quickly.

"I want to work together," he said. "But I want everyone also to understand, you can’t push us around."

Despite his diplomatic attitude, the question on many people's minds is whether the same president and same divided Congress have the political will to end the gridlock that's hampered any action to avert the fiscal cliff.

This week on WNYC's Money Talking, contributors Rana Foroohar of Time magazine and Joe Nocera of the New York Times discuss if there's anything in the election results that signal a change to the no-compromise attitudes of the past. 

They also weigh in on what will happen if the country does plunge over the fiscal cliff.

WNYC is funded by sponsors and member donations

Top Stories

America at 250: A View from Britain, with “The Rest Is History”

The historian-podcasters Dominic Sandbrook and Tom Holland explain why losing the thirteen colonies “annoyed” the British, but “it could have been a lot worse.”
The New Yorker Radio Hour |

NYC Rent Guidelines Board approves 2-year rent freeze, fulfilling Mamdani campaign pledge

About 1 million rent-stabilized apartments will be shielded from rent increases for the next two years after the historic vote.
Gothamist |

Are Carriage Horses a Thing of the Past?

Liam Quigley talks about the latest efforts to ban carriage horses in Central Park.
The Brian Lehrer Show |

Feds indict former Mayor Adams adviser Frank Carone in migrant housing bribery scheme

One of former Mayor Eric Adams' oldest and closest allies was arrested Wednesday on federal corruption charges, joining a growing roster of Adams aides facing prosecution.
Gothamist |
YOU ARE ONLINE