Stocks brace for fiscal cliff reckoning
December 29th, 2012
09:56 AM ET
7 years ago

Stocks brace for fiscal cliff reckoning

New York (CNNMoney) - Can the stock market shake off yet another punt by Congress? It just might.

For weeks, many have worried that no resolution to the fiscal cliff would lead to the kind of brutal sell-off that followed the voting down of the TARP bailout and the downgrade of America's credit rating.


Filed under: • Fiscal Cliff
soundoff (10 Responses)
  1. Anonymous

    Hey, Wall Street. I'm totally cool going over the cliff. More revenues ... less spending. Isn't that what America used to be known for? A balanced approach. You Wall Street guys ought to try balance in your lives. Less stress.

    December 29, 2012 10:15 am at 10:15 am |
  2. J'Cincinnati'Redd

    If you folks out there are smart you better get your check books out.If the stock market takes a huge dive Im going to start buying. The lower the stock the more i buy. Also if you have a roth IRA and the market take a big dip,you might be better off sending the max (if you have the funds) that i believe is 5,500 for 2013. good luck!

    December 29, 2012 10:47 am at 10:47 am |
  3. Canuck

    It's sad to see the awful GOP drag your country down like this . Obama won the election – he should call the shots. Having different branches of government seems like a good idea until you get a situation such as this where one ignorant, obstructionist group can prevent any progress.

    December 29, 2012 10:55 am at 10:55 am |
  4. Anonymous

    Uh oh. We've got a problem here Houston. The GOP is counting on blaming Obama. We saw this play out time and again the past 4 years. Didn't work then, won't work now. Obama no longer has a dog in the GOP pony show.

    Republicans OWN the fiscal cliff. They always have. Some might call it Karma. They would be wise to do so. The GOP had 4 long, miserable years to deal with the destruction they created. And here they are still hoping to push the can down the road.

    GOP leadership? Not since Reagan died. What's left is nothing but mindless GOP clones.

    December 29, 2012 11:42 am at 11:42 am |
  5. Anthony

    Republicans tried to force Democrats to cut spending in the last debt ceiling crisis, but all they could get was the automatic spending cuts in domestic and military spending, which, along with the Bush tax cuts that are due to expire at the end of this year, become the fiscal cliff. Now Republicans want to force Obama to renegotiate over the fiscal cliff. This is after Republicans lost the 2012 election and the polls show that the public sides with Obama and Democrats over the fiscal cliff. When the next debt ceiling arrives (technically it arrives at the end of this year, but the Treasury can delay a government default for a couple of months) Republicans are going to try again. It is like groundhog day. Some people never learn.

    December 29, 2012 11:46 am at 11:46 am |
  6. ST

    It never crossed my mind even once that there can occur a BIG TEST, to test those in power. Here we are, make it or lose it. Our eyes are wide open and our ears and necks moving to hear what is going to happen tomorrow (Sunday), if at all there is something to vote for.

    December 29, 2012 12:59 pm at 12:59 pm |
  7. Name lynn

    obama saying we will have a fiscal cliff before the new year an didn you all hear obama speech its the republicans and boehner but regarless obama says his bill will pass thats includeing the taxs bills and whatever else bill that needs to pass hes the president when everyone done talking

    December 29, 2012 01:09 pm at 1:09 pm |
  8. rs

    This is the GOP at work- wrecking the economy for us all.

    December 29, 2012 02:00 pm at 2:00 pm |
  9. rs


    Unfortunately, with the wonders of higher taxes and less spending will come higher unemployment, less economic activity, and contraction in place of growth- sure that's the GOP way to ensure the rich will "own" more of America, and it won't really fix anything.
    Want stupidity? I present you with the G.O.P.

    December 29, 2012 02:03 pm at 2:03 pm |
  10. Squigman

    A great buying opportunity for some.

    December 29, 2012 02:59 pm at 2:59 pm |