As the fiscal cliff deadline looms, President Obama used his Saturday radio address to echo his demand that Congress act. The nation is perceived to be falling off a fiscal cliff, and the incumbent politicos are arguing over automatic tax hikes and budget cuts.

Obama had this to say:
“You meet your deadlines and your responsibilities every day,” Obama told his radio audience. “The folks you sent here to serve should do the same. We cannot let Washington politics get in the way of America’s progress.”

New Year’s Day marks the start of the fiscal cliff, a series of automatic tax increases and program cuts that gradually take effect if the parties are unable to reach a new debt reduction agreement. The federal debt now exceeds $16 trillion.

If the Senate cannot strike a deal this weekend, Obama said in his radio speech he will ask the Senate to vote on a “basic package.” That plan would maintain unemployment benefits and extend the George W. Bush-era tax cuts for all Americans except those who make more than $250,000 a year.

With only a few days to go, politicians are hopeful but the markets are wary.

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