Kevin Charles

Busy Day in Washington Directly Impacts American Economy, Recovery [Listen]

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(Credit: Kick Images/Getty Images)

(Credit: Kick Images/Getty Images)

Two important events are taking place in Washington today that will have a direct impact on our economy, the fiscal cliff and today’s jobs report.

ABC News’ Vic Ratner reports from Capitol Hill where Senators are hearing dire warnings about what might happen to the economy if the fiscal deadlock is not resolved:


With new jobless figures out today, Mark Zandi, chief economist at Moody’s Analytics, warns senators getting agreement to avoid the cliff is critical to keeping the economy growing.

“It hasn’t affected hiring and layoff decisions yet, but it will,” Zandi said.

Beyond the year-end cliff, Zandi says there needs to be a major deficit-reduction deal by mid-February, or he warns, the markets will tank and the economy will be in trouble.

For more on the job report, ABC News’ Ann Compton joined NEWS 92 FM’s Dennis Spellman with more:


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