December 26th, 2012
09:52 PM ET

Teetering on the fiscal cliff: Obama, Senate return to D.C.

The U.S. is only six days away from going over the fiscal cliff, and today at least, nothing happened. Nada. Christmas is over but Washington seems to be hungover from all of the drinking, eating and caroling.

But the clock is ticking.

The latest news out of Washington tonight -  Treasury Secretary Tim Geithner told Congress the country will hit the debt ceiling on December 31st - some two months earlier than expected.

But there's still no date yet on when the House of Representatives will be called back into session to vote on any deal. President Obama cut his Hawaiian vacation short and is due to land in Washington tomorrow.

The American people are certainly feeling the urgency. A new Gallup poll out today shows 50% of Americans think a deal is likely, down 9 points from a few weeks ago.

If we go over the fiscal cliff, it will affect all of us:

  • If you're a family that makes $50,000 a year, your taxes will go up by $2,000.
  • If you make $100,000, your taxes will go up by $4,600.

Ribble: We need to 'come together'

Outfront tonight: Democratic Congressman Raul Grijalva of Arizona and Republican Congressman Reid Ribble of Wisconsin.

Filed under: Fiscal Cliff • Politics
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