Fiscal cliff could send U.S. into another recession: Queen's University expert
Queen’s University American political studies teaching fellow Dru Lauzon is available to comment on the looming fiscal cliff and how President Barack Obama plans to face these challenges. The Budget Act of 2011 requires the president and Congress to agree on a nine-year $1.2 trillion deficit reduction program.
“Despite the fact that the Democrats have managed to retain control of the Senate, Barack Obama will face huge challenges as he tries to address the obstacles posed by the January 2013 fiscal cliff,” says Mr. Lauzon. “It is entirely likely that the Republicans controlling the House of Representatives will continue to oppose any effort to raise taxes on the wealthy, a key aspect of Obama's budgetary plan. In addition, the emerging narrative within the Republican Party, which blames Mitt Romney's defeat on his centrist policies, will make it very difficult for House Republicans to cooperate with Democratic leaders to address the looming budgetary crisis, since to do so would leave them open to criticism from their own fiscally conservative base."
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