USA

White House: Consumer Spending Will Decline Unless Congress Averts Fiscal Cliffi
|| 0:00:00
X
November 27, 2012 12:48 AM
It was a blockbuster weekend for retailers, as Americans took advantage of big discounts to ring in the holiday shopping season. But you wouldn't know it from the reaction on Wall Street. Financial markets were sharply lower Monday after White House economists warned that consumers could put the brakes on spending if Congress allows the country to fall off a so-called "fiscal cliff." Mil Arcega reports.

White House: Consumer Spending Will Decline Unless Congress Averts Fiscal Cliff

Published November 26, 2012

It was a blockbuster weekend for retailers, as Americans took advantage of big discounts to ring in the holiday shopping season. But you wouldn't know it from the reaction on Wall Street. Financial markets were sharply lower Monday after White House economists warned that consumers could put the brakes on spending if Congress allows the country to fall off a so-called "fiscal cliff." Mil Arcega reports.


You May Like

Photogallery South Africa Bans Travelers From Ebola-stricken Countries

South Africans returning from affected West African countries will be thoroughly screened, required to fill out medical questionnaire, health minister says More

Photogallery UN Launches ‘Biggest Aid Operation in 30 Years’ in Iraq

Move aims to help thousands of Iraqi religious minorities who fled their homes as Kurdish, Iraqi government forces battle Sunni insurgents More

Video African Media Tries to Educate Public About Ebola

IT specialists, together with radio and TV reporters, are battling misinformation and prejudice about disease More