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Washington dodges fiscal cliff crisis with last minute deal
The article notes a delayed action on the fiscal cliff, risk of recession if no bill passed, and a final package raising about 600 billion dollars in taxes over ten years. It highlights higher Social Security taxes, higher rates for top earners, extended credits, and unemployment benefits, while criticizing the failure to address automatic spending cuts and broader entitlement reforms. It also mentions looming debt ceiling and budget deadlines with Geithner signaling extraordinary measures.
MENTIONED IN THIS ARTICLE
Washington
United States
Federal Reserve
Fed
Ben Bernanke
Congress
House
Senate
Obama
John Boehner
Treasury
Timothy Geithner