Are the days of Congress 'going big' over?
Washington (CNN) - It was a common refrain during the House and Senate late-night votes to avert the fiscal cliff. Senator after senator, congressman after congressman lamented the fact that the legislation didn't "do more," "go bigger" or that it was "far from perfect."
Political watchers believed the fiscal cliff negotiations were the perfect time for President Barack Obama and House Speaker John Boehner to hatch a "grand bargain" - a deal that would have included both large increases in tax revenue and major cuts in government spending. At the time, both men looked better positioned to deliver a bipartisan plan. Boehner seemed to have a firmer hand on his caucus leading up to the talks, and the president was coming off a hard-fought re-election win.
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Deficit hawks: Fiscal cliff deal a real downer
New York (CNNMoney) - For the near term? Good. For the long term? Oh, puh-leeze.
That, in a nutshell, summarizes how independent deficit hawks view the fiscal cliff compromise that Congress passed on Tuesday and which President Obama signed into law Wednesday.
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Obama signs bill warding off fiscal cliff
(CNN) - President Barack Obama has signed into law a bill to avert the fiscal cliff, a day after the House and Senate approved the much-debated legislation.
Obama, who returned to his family vacation in Hawaii after Tuesday's House vote, signed the bill via autopen on Wednesday.
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Obama signs bill warding off fiscal cliff
(CNN) - President Barack Obama has signed into law a bill to avert the fiscal cliff, a day after the House and Senate approved the much-debated legislation.
Obama, who returned to his family vacation in Hawaii after Tuesday's House vote, signed the bill via autopen on Wednesday.
McConnell: Debt debate 'starts today'
(CNN) - Hours after Congress sent a bill for the president's signature to avoid the fiscal cliff, Senate Minority Leader Mitch McConnell is already gearing up for the next showdown.
The Kentucky Republican wrote in an op-ed that President Barack Obama should be prepared to "have a fight" over government spending and the debt limit in the coming weeks, adding that the tax debate is now a thing of the past with the new legislation.
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U.S. credit ratings test is yet to come
London (CNNMoney) - Credit rating agencies are likely to hold off passing judgment on the U.S. credit rating until they have a clearer picture about the fate of the debt ceiling and longer term plans to reduce borrowing.
The New Year fiscal cliff agreement between the White House and Congress raised taxes on the richest Americans but postponed much of the toughest political wrangling on automatic spending cuts for another two months.
FULL STORYFiscal cliff deal: 5 things to know
(CNN) - Now that the House has passed a Senate deal to avert the fiscal cliff, it will become law when President Obama signs it. He has returned to Hawaii to join his family on vacation.
Here are five things to know about the complex bill, and what it does and doesn't do.
FULL STORYCliff vote sets up potential 2016 flashpoint
(CNN) - Political junkies were picturing the scene before the gavel came down: Rep. Paul Ryan, Sen. Rand Paul and Sen. Marco Rubio, sparring on an Iowa debate stage in December 2015, explaining their three-year-old votes on the deal designed to avert the fiscal cliff.
The top prospective Republican presidential candidates on Capitol Hill took opposite sides on the package that will stave off automatic tax increases - Rubio and Paul said "no" in the Senate's 2 a.m. vote on New Year's Day, while Ryan said "yes" when the House voted nearly 20 hours later.
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Fiscal cliff deal boosts world markets
Hong Kong (CNNMoney) - World markets advanced Wednesday as lawmakers in the United States completed legislation that will mute much but not all of the fiscal cliff.
Asian and European stocks post strong gains, while government bonds in weaker eurozone economies rally as investor appetite for riskier assets rise on the diminished threat of an immediate hit to growth in the world's largest economy.
FULL STORYHouse staves off fiscal cliff, but more money squabbles lie ahead
Washington (CNN) - After exhaustive negotiations that strained the country's patience, the House approved a bill to avert a dreaded fiscal cliff - staving off widespread tax increases and deep spending cuts.
The 257-167 vote late Tuesday night included 172 Democrats and 85 Republicans in favor of the bill; 16 Democrats and 151 Republicans voted against it.
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