Fiscal free-fall on the brink: what’s a president to do?
Make sure student loan rates don’t skyrocket. That was President Obama’s message to students in Las Vegas.
But republicans criticized the visit, saying what he’s really after, is their vote.
Washington has yet to deal with the Bush tax cuts, expiring at the end of the year, which could raise taxes on families and businesses already struggling in a tough economy.
He’s hopeful we’ll see moderate growth this year, but Federal Reserve Chair Ben Bernanke tells lawmakers, if the US is approaching fiscal cliff, the Fed can help, but only Congress can prevent a free-fall:
“I’d be much more comfortable if, in fact, Congress would take some of this burden from us,” Bernanke said.