Fiscal Cliff Looms Large As Congress Leaves Town

Amuch-reviled Congress has now departed for a five week vacation – leaving behind a mountain of unfinished work as well as renewed anxiety that lawmakers and President Obama will be unable to get their act together in time to avoid slipping off the fiscal cliff at the end of the year.

With a fifth of the contiguous U.S. suffering from extreme drought, the House last week blocked action on a new five-year farm bill that included drought relief funding, along with more controversial measures. Meanwhile, the Senate – which overwhelmingly passed its version of the farm bill – snubbed a $383 million package of emergency loans and grants for livestock producers and other weather-stricken farmers that the House had rushed through at the last minute.

Read more at The Fiscal Times…

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