Congress Returns

“Amid a global fright over Washington’s political brinkmanship, U.S. lawmakers return to the capital on Tuesday with a seven-week deadline to reach agreement on scheduled tax hikes and budget cuts that threaten to trigger another recession,” Reuters reports.

“The post-election battle over the so-called fiscal cliff is shaping up as an extension of the political campaign with Democrats trying to rally support for raising taxes on the wealthy as part of any deal, and Republicans countering that such an approach would devastate ‘job creators’ across the country.”

Wonk Wire: Will 2016 hopefuls sink a grand bargain on the nation’s debt?