NIE ROCKS The Fiscal Cliff
What is the fiscal cliff? It is a term first used by Federal Reserve Chairman Ben Bernanke to describe the impact on the economy of about $502 billion in expiring tax cuts and spending reductions, bot... Posted on 12/5/12 at 3:11 PM
With the U.S. set to plunge over the fiscal cliff as New York City’s New Year’s ball drops, many experts say North Dakota’s oil industry could weather the myriad of tax hikes and budget cuts set to kick in midnight Dec. 31 if there is no deal between Congress and President Barack Obama.
As yet another make-believe Washington “crisis” looms, it’s tempting to suspect that the most fraught interludes in American politics derive from turning government into a TV show. Artificial deadlines, imaginary cliffs, villains and heroes — a state of permanent emergency. These well-worn dramatic devices have been the stuff of serial melodrama from “The Perils of Pauline” through “24.”
WASHINGTON — President Barack Obama and leaders of the lame-duck Congress may be just weeks away from shaking hands on a deal to avert the dreaded “fiscal cliff.” So it’s natural to wonder: If they announce a bipartisan package promising to curb mushrooming federal deficits, will it be real?
WASHINGTON — The election may be over, but a new campaign is being waged in the nation’s capital as lobbyists, advocates and trade groups fight to shape the government’s response to the looming fiscal cliff.
FARGO — A North Dakota family of four earning $84,896 could pay $4,825 more in taxes in 2013 than they did in 2011 if Congress and President Barack Obama take the nation into a running leap off the so-called “fiscal cliff.”
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