Aides predict fiscal cliff failure

December 27, 2012

With historic tax increases set to hit virtually every American in five days, President Obama and members of the Senate are headed back to Washington on Thursday to take one last shot at a deal to protect taxpayers and the gathering economic recovery. [...]

With no sign of urgency, aides in both parties predicted that failure was not just a possibility — it was rapidly becoming the most likely outcome. No significant movement was expected Thursday: Obama was scheduled to be in the air traveling back from his Hawaiian holiday for a good portion of the day, and the Senate wasn’t set to convene for votes until the evening.

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