Our New Year's Wish: Political Will
Congress will leave town for the holidays without completing some serious fiscal business, but with a full agenda for next year. The House and Senate will have to raise the debt limit again early next year. Many members are clamoring for the establishment of a fiscal commission. And Democratic leaders from House Speaker Nancy Pelosi to President Obama have promised a new focus on deficit reduction. Republicans have promised to force the Democrats’ hands on the issue or make it a major issue in the fall election.