Lawmakers Say Time Short to Reach Deal on Fiscal Cliff
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Lawmakers said they were losing confidence that Congress and President Barack Obama can reach a deal within a week to avoid more than $600 billion in tax increases and spending cuts that could cause a U.S. recession.
“For the first time I feel it’s more likely that we will go off the cliff,” Senator Joseph Lieberman, a retiring Connecticut independent, said yesterday on CNN’s “State of the Union” program about the so-called fiscal cliff.