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.”
