- Obama military downsizing leaves U.S. too weak to counter global threats, panel finds
- Sen. Tom Coburn vows to slow down budget-busting bills ahead of recess
- Obama fantasizes about more executive power, signs new order on federal contractors
- Clintons call Klein, Halper, Kessler ‘a Hat Trick of despicable actors’: report
- Boehner accuses Obama of ‘legacy of lawlessness’
- Pro-marijuana group claims responsibility for Brooklyn Bridge flag swap
- Young adults shun Obamacare mostly due to cost: survey
- Stabbing attack on transgender girl, 15, was ‘bias motivated,’ police say
- LGBT adults still lean overwhelmingly toward Democratic Party
- Lawmakers rattled by Syria genocide horrors, call on Obama to act
Agencies warn politicians: Credit ratings on the line
Question of the Day
Berkshire Hathaway CEO Warren Buffett, in an interview on CNN Wednesday, sounded hopeful: “If 25 Republicans put country before party, we won’t go over the fiscal cliff.” Even if there’s no deal, the billionaire investor predicted the impact would be manageable. “[If Congress] can’t get along for the month of January, it’s not going to torpedo the economy.”
But many businessmen and Wall Street investors remain as skeptical — and as worried — as the ratings agencies.
“Avoiding the fiscal cliff will require the kind of political leadership we haven’t seen,” said Reto Gallati, chief investment officer at Raetia Investments. But kicking the can down the road is no longer an option. “The stakes are too high to fail,” he said.
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