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December 26, 2012


Fiscal Cliff Deal Increasingly Unlikely

Politico reports that "nearly all the major players" in the fiscal cliff negotiations believe a deal is "virtually impossible before the New Year."

"Unlike the bank bailout in 2008, the tax deal in 2010 and the debt ceiling in 2011, the Senate almost certainly won't swoop in and help sidestep a potential economic calamity... With the country teetering on this fiscal cliff of deep spending cuts and sharp tax hikes, the philosophical differences, the shortened timetable and the political dynamics appear to be insurmountable hurdles for a bipartisan deal by New Year's Day."

The New York Times notes that with just days left "before the fiscal punch lands, both sides are exhibiting little sense of urgency, and new public statements Wednesday appeared to be designed more to ensure the other side is blamed rather than to foster progress toward a deal."












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