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The road ahead

No rest for the weary may be a serious understatement.

Just days after winning a second term in the White House, President Barack Obama is faced with the same Republican-led house that thwarted many of his biggest policy goals over the past four years.

And time may be running out to reach across the aisle. Unless serious compromise is achieved during the upcoming lame-duck congressional session, the nation will find itself in peril of the so-called “fiscal cliff” in less than eight weeks. Facing down the fiscal cliff will automatically trigger across-the-board tax increases and huge spending cuts that could easily lead to another recession.

In an interview with anchor Jeff Greenfield, Rana Foroohar, an assistant managing editor and columnist at Time magazine says “the fiscal cliff is clearly job one for the president now.” She continues, “It’s one of the reasons that the markets have been so unsettled in the run up to the election. And it’s certainly the biggest economic issue facing the country in the next two to three months.”

Watch this week’s full episode.

  • thumb
    Main Street: Findlay, Ohio
    Need to Know travels to Ohio to assess how workers are faring after the loss of millions of manufacturing jobs over the past 35 years.
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    Following the money: Tax breaks
    New CBO report echoes the findings of Need to Know's "A tale or four tax returns."
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      Certifiably employable
    Rick Karr recently visited Seattle to look at a program designed to give the unemployed the skills they need to find jobs in one of the country’s fastest-growing industries.


  • lynne

    well I logged on to talk about the show-Nov.9 but I don’t see much that pertains-oh well, first: save Social Security & medicare by eliminating the income cap. People like Romney, and all of the members of Congress, etc.,should pay the taxes on every last red cent of their income! And speaking of their income; those Cayman Island bank accounts are economic treason, and should disqualify anyone who has one from running for any public office, and should probably cause revocation of passports-that would put a stop to the tax cheating, and would likely help put a dent in the “offshoring” of jobs!

  • G.Mitchell

    We the American People are being held hostage by our congress,(republican house in peticular). They need to come together with the President to fix the problems, and without trying to add any porkbellies to the various bills. This economy could have been alot further ahead If they would have worked with the President to pass the job bill. I hope we do not find it nessacary to march on the
    Capital Bldg. At this point in time It will not take much for seniors, to hit the Capital steps when John Bainer talks about touching our social security, medicare, ect. Barack Obama, is the Peoples’ President and we support him, because he is working for us.

  • Anonymous

    But that would disqualify your hero Mr Obama. Maybe you need to rethink that.

  • Anonymous

    The “people” have spoken so give them exactly what they want, raise taxes to the historic levels of the past with a 75% top level for all the “wealth winners of life’s lottery” as Mr. Obama put it. Make sure that the 75% tax level is applied to small business that provides most of the jobs we need to solve unemployment and innovation in this country. The economy wont last long under that kind of taxation and the “people” will see the results of the leadership they asked for. The goodies they want have to be paid for by someone.

  • Gustavo Corral

    I guess anyone can be a pundit nowadays; those Accuracy classes in Journalism school are a thing of the past. Still, for old times sakes’ : the Republican-led House “thwarted” the administration only for the last 2 years, not 4. Perhaps you man spent the first 2 years on health reform and stimulus packages more than on long term fiscal problems ?

  • smoore

    I think this election speaks volumes about the gridlock in Washington. I hope that the American people will go one step further and vote for term limits as a way to clear out those who have forgoten they work for us. How different would they govern if we the people decided their salaries and health benefits instead of them.