The questions dominate every political discussion. Will we go over the fiscal cliff? Should we go over the fiscal cliff? What will happen if we go over the fiscal cliff?
In the meantime, President Barack Obama and House Speaker John Boehner have had numerous meetings to discuss a deal that would avoid the fiscal cliff. Obama called Boehner to the White House Thursday night, according to the New York Times, but he stayed for less than an hour and a deal remains elusive.
The core issue remains the same. The president wants an increase in tax rates for the wealthiest taxpayers. The Republican leadership says the White House must slow the growth of entitlements and offer to rein in spending before they will consider tax increases of any kind.
Some analysts say the country should just go over the fiscal cliff, which will end the Bush-era tax cuts for everyone and slash spending on a wide variety of programs. But states, including Connecticut, are terrified about what that would do to their own tenuous budgets.
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