Congress Faces “The Mother of All Lame-Duck Sessions”Posted by in Blog on November 12, 2012
It’s going to be a lame-duck Congressional session to remember, thanks to the fiscal cliff. OnWallStreet.com says that when members of Congress return to town this week, they have a lot on their plate, such as the fiscal cliff issue looming, and the Bush tax cuts expiring.
Andrew Friedman, who works for Washington Update, a company that does policy analysis, says he expects to see some big volatility in the stock market over the next few months. “I think we’re going to see a lot of money in motion in the next couple months,” he recently told reporters.
Friedman also said that the U.S. elections last week put us “right back where started,” with the Democrats keeping the presidency and the Senate, and Republicans keeping the House. He said that there will need to be “consensus” between the two parties to get anything done.
And there is a lot to be done this year. Friedman called the next two months “the mother of all lame-duck sessions,” with the fiscal cliff issue taking up most of Congress’ schedule for the session.
Written by Lisa Swan