Sue Ogrocki, Associated Press
Our take: Decisions are to be made quickly for President Obama and Congress to avoid a "fiscal cliff." The "fiscal cliff" means less spending and tax increase of more than $600 billion, according to Damian Paletta and Jon Hilsenrath, reporters from The Wall Street Journal. Paletta and Hilsenrath analyze what is next for Obama's decisions with the economy:
"In his second term, freshly re-elected President Barack Obama confronts an economy that offers glimmers of long-missing vitality but remains held back by fiscal and regulatory uncertainties and slowing global growth.
"The U.S. economy has shown signs of improvement in recent months. Unemployment is below 8 percent, stock prices are up, the housing sector is reviving and consumers are starting to step up spending on cars and other big-ticket items after four years of paying down debt."
- No national launch for Draft Mitt effort
- NTSB: Plane that crashed in Arizona killing...
- Sex education should start sooner, study finds
- Israel vows to destroy Hamas tunnels, with or...
- Sorting out the claims after pipe break: Who...
- Witnesses at Utah trial: No security-camera...
- The creepiest Internet-related happenings of...
- The Great War: 100 photos marking 100 years...
- US Court: Virginia marriage is for all... 53
- Obama to GOP: 'Stop just hating all the... 47
- No national launch for Draft Mitt effort 44
- GOP-led House ready to OK lawsuit... 37
- GOP: Lois Lerner's IRS emails show bias... 30
- Most Americans believe the U.S. should... 28
- House leaders abandon border bill 25
- GOP-led House approves lawsuit against... 15