Poised to Go Over the 'Fiscal Cliff'
Crisis on Capitol Hill: Reports say Fiscal Cliff deadline will be missed. Deal still in works.
Despite 11th hour negotiations on Capitol Hill, the nation looks like it will be going over the "fiscal cliff," according to multiple news reports on Dec. 31, 2012.
A deal to avoid a combination of tax increases and spending cuts, to begin to take effect, Jan. 1, 2013, was elusive late in the afternoon of New Year's Eve.
FoxNews reports there is a compromise on the tax hikes, but the spending side of the "cliff" remains a sticking point among negotiators.