fiscal cliff

New Year San Antonio
10:20 am
Wed January 2, 2013

New Year's Resolutions Reflect Personal Goals, Political Expectations

For many people the new year means a new start, and with it another chance to change.

"All women [want] to lose weight is my first one [resolution]" said Sandra Orendain, a native of Mexico and San Antonio resident. "And the second one is to be healthy and to do more exercises."

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The Source
11:41 am
Thu December 27, 2012

Rep. Charlie Gonzalez On The Fiscal Cliff

Outgoing San Antonio Congressman Charlie Gonzalez in his 2012 congressional portrait.
U.S. Congress

Congressman Charlie Gonzalez is ending a 14-year career in the U.S. House, and he's going out as things are heating up -- the august body is still dealing with the political crisis known as the fiscal cliff. Gonzalez explains why he’s leaving Congress and what his successor, Joaquín Castro, needs to know to deal with the pressures of Washington D.C.

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8:04 am
Fri December 21, 2012

83rd Texas Legislature Gets Ready For The New Session To Begin

Lead in text: 
With federal spending cuts looming, cases working their way through the courts questioning state funding of education and gun control control at the front of public debate, Texas lawmakers have their work cut out for them this session.
The 83rd Texas Legislative Session Begins on January 8th December 20, 2012 There's no doubt about it. Federal dollars pay for a lot of things in Texas. This year's state budget included $33 billion in federal money. Overall federal spending in Texas totaled more than $220 billion in 2010.
Business/Economy
9:43 am
Fri December 7, 2012

The Reality Of The Fiscal Cliff: How Going Over Could Help The Economy

If President Obama and Congress fail to reach a deal on tax and spending changes, the nation would feel a lot of fiscal pain. But it also may benefit from the long-term fiscal restraint that would come from keeping tax hikes and spending cuts in place.
Getty Creative Images

Originally published on Fri December 7, 2012 11:11 am

It wouldn't be the worst thing that could happen to the country.

If President Obama and Congress can't come to agreement on new tax and spending policies by the end of year, the U.S. could slip into recession, defense and domestic programs will see damaging cuts, and the American people may become convinced that Washington can't govern the nation.

On the other hand, the lack of a deal would do a lot to help erase the federal deficit.

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