The five toughest financial challenges facing Obama's second term

Published: Wednesday, Nov. 7 2012 1:56 p.m. MST

Pablo Martinez Monsivais, Associated Press
President Barack Obama's next term will be full of difficulty and tough choices, according to an article posted on the Tax Policy Center's blog. "His biggest challenge: Find a way to break the logjam between Democrats who are reluctant to slow the growth of programs such as Medicare and Medicaid, and Republicans who insist that all deficit reduction must come from spending cuts and none from new taxes," Howard Gleckman, editor of the TaxVox blog and resident fellow at the Tax Policy Center, said in his post. "Obama will find some moderates of both parties eager to deal, but he will also face hardliners who are not." The following is a list of the biggest challenges facing the president in his upcoming term, according to the Tax Policy Center.
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Liberal Ted
Salt Lake City, UT

The fiscal cliff that they keep kicking the can down the road. And making promises to people that there is no end to the borrowing and there are zero consequences to the borrowing. Also, you just have to tax the rich a little more and the bandaid will make the bleeding stop.

It's that simple.

Cedar Hills, UT

re:Liberal Ted

Very true. Also really really frightening for the average family. Interest rates could spike ... into the teens ... and one can only imagine what that would do to a persons ability to purchase a car or a home. It feels like we are about to repeat 2008 all over again.

R-Valley, NV

Let's buckle up and go off the fiscal cliff. We're going to go off that cliff someday and the sooner we go, the softer the landing will be. The Fed is currently buying 80 percent of our debt in order to manipulate interest rates and keep them low. No wonder we can't audit the Fed. Once they stop buying debt, interest rates skyrocket.

Provo, UT

The number one toughest challenge Obama has to face his second term;

Obstructionist sore losers from the other side of the aisle who would rather destroy this country than be proven wrong in all their doomsday fear mongering from the election they lost.

Deep Space 9, Ut

To "I M LDS 2" you are wrong. The biggest challenge Obama has is to figure out how to dig the country out of the hole he created.

Cedar Hills, UT

It sure does give you a warm feeling that we have Barack in charge for another 4 years to keep us far away from the edge of the cliff ..... I guess laying lifeless at the bottom of the river is also far away from the cliff too!!! Yikes!!!

Las Vegas, NV

The toughest challenge Obama has is coming clean on Libya debacle. Those brave dead Americans and thier families deserve the truth why Obama and his buddies sat on their rear end and watched them get slaughtered.

Bountiful, UT

Here is one easy way to cut back on spending. Stop spending law enforcement money in the war on drugs. It isn't working.

no fit in SG
St.George, Utah

A confidential White House/government document was released today.
This multi paged document shows our nation, in no uncertain terms, that President Obama and Democrats, earlier in his administration, were willing to make cuts to numerous sacred government agencies. President Obama was willing to COMPROMISE and work with with BOTH sides.
Republicans would not budge. Again, Republicans continued to refuse to increase taxes on wealthy Americans.
Look it up, check it out.
The truth is out there for all to view.

Salt Lake City, UT

I hear a lot about how the deficit is a major problem. Yet when it comes to the fiscal cliff, which would cut the deficits in half (about 500-600 billion instead of our 1.1 trillion deficit this year) I'm told that it'll plunge us into another recession if we go off the cliff. Okay... so we all agree that massive deficit reduction is bad now? What am i missing?

Cedar Hills, UT

1. Breaking his old golf score
2. Breaking his appearances on The View of 25.
3. Breaking his vacation record of 150.
4. Breaking his appearances on Letterman of 20.
5. Deciding where to put his face on Mt Rushmore. Who to knock off to make room?

Decisions decisions.....

Heaven help this country... at least those that still believe which rules out the democratic party.

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