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Economy and Politics: Fiscal Cliff #1036816

CBS Evening News for Monday, Dec 31, 2012
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(Studio: Rebecca Jarvis) Report introduced.

(Capitol: Nancy Cordes) The likelihood that the country will go over the fiscal cliff temporarily examined; details given about agreements on tax cuts, the alternative minimum tax and the estate tax. [Senator Mitch McCONNELL – says we’ve reached an agreement on the tax issues.] [Senator Joe LIEBERMAN – says he hopes we will pass it with a bipartisan majority.] [Senator Bob CORKER – says we’ve done nothing to reduce debt.]

(Studio: Rebecca Jarvis) Report introduced.

(White House: Major Garrett) The negotiations on a budget deal reviewed; details given about President Obama’s agreement to give up the level at which taxes will increase. [OBAMA – says our immediate priority is to stop taxes going up for middle class families.]

(Studio: Rebecca Jarvis) Report introduced.

(Los Angeles: Lee Cowan) The impact on businesses of the budget uncertainty examined; details given about the importance of the defense industry in California. [Golden State Magnetic and Penetrant president Joanne WEINOE††- worries about unresolved spending cuts; notes the uncertainty doesn’t allow you to focus on future expansion.]

Reporter(s):
Jarvis, Rebecca;
Cordes, Nancy;
Garrett, Major;
Cowan, Lee
Duration:
00:07:10

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