House Minority Whip Rep. Steny Hoyer of Md., pauses during a news conference on Capitol Hill in Washington, Thursday, Dec. 27, 2012, where he urged House Republicans to end the pro forma session and call the House back into legislative session to negotiate a solution to the fiscal cliff. (AP Photo/ Evan Vucci)
Over the fiscal cliff: Soft or hard landing?
House Minority Whip Rep. Steny Hoyer of Md., pauses during a news conference on Capitol Hill in Washington, Thursday, Dec. 27, 2012, where he urged House Republicans to end the pro forma session and call the House back into legislative session to negotiate a solution to the fiscal cliff. (AP Photo/ Evan Vucci)
By CONNIE CASS
Associated Press /
December 29, 2012
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— If lawmakers reach Dec. 31 without a deal, some economists worry that the financial markets might swoon.
— The current Congress is in session only through noon Eastern time on Jan. 3. After that, a newly elected Congress with 13 new senators and 82 new House members would inherit the problem.
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Associated Press writers Jim Kuhnhenn, Alan Fram and Andrew Taylor and Director of Polling Jennifer Agiesta contributed to this report.
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