Fiscal cliff campaigning now underway
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WASHINGTON, D.C. -- Now that the presidential election is over, Washington is focusing on a new campaign: the battle over the pending fiscal cliff. Talks are expected to resume next week.
Lobbyists, advocates and trade groups are looking to limit the damage from the fallout over the government's mushrooming debt. Congress and the White House are trying to work on a deal that will likely include higher taxes and spending cuts.
The deficit commission is urging President Obama and Congress to reduce borrowing by $4 trillion over the next decade.