THE RESET: Debt limit looms as next fiscal cliff

Posted on 12 December 2012. Tags: , , , , , ,

President Barack Obama speaks to workers about the economy during a visit to Daimler Detroit Diesel in Redford, Mich., Monday, Dec. 10, 2012. The scene playing out on Capitol Hill is a familiar one as lawmakers with competing ideologies wage an 11th-hour battle to avert a predictable crisis. This one comes just a year after an equally divided Washington nearly let the country default on its loan obligations, a debt-ceiling debate that contributed to the electorate's deep lack of faith in their elected leaders and a drop in the nation’s credit rating. (AP Photo/Paul Sancya)We now know what's on the other side of that menacing year-end "fiscal cliff." Another cliff.




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