To the cliff, and beyond
Barack Obama and the Republicans have precious little time to act
Nov 10th 2012 | WASHINGTON, DC | from the print edition
A DAY after receiving a thumbs-up from voters, Barack Obama got a thumbs-down from the stockmarket, which fell 2%, its biggest fall in a year. Blame the threat of higher taxes on dividends and capital gains and tougher treatment of banks and fossil fuels, but blame also the sad fact that the election failed to resolve the biggest question hanging over the economy: how to deal with the deficit.