Dysfunction in Congress Poses 2013 Risks

Any deal today would deal with only some recession-causing factors and set another deadline early next year.

U.S. lawmakers hurtled toward a midnight deadline to avert hundreds of billions of dollars in tax increases and spending cuts, struggling to extract the country from a fiscal trap they created.

Even if they reach a last-minute budget agreement, it would be short of the so-called grand bargain of deficit reduction lawmakers envisioned.

Stock Futures

 

Debt Limit

 

Ideological Extremism

 

‘Hard-Right People’

 

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