Lawmakers on Capital Hill have pushed back Fiscal Cliff discussions until after the holidays. They plan to return to Washington on December 27.
Lawmakers will have until January 1 before tax increases and spending cuts arrive. We spoke with KELOLAND residents on Friday about how they feel about this recent delay.
Many economic analysts believe the latest delay in talks won't leave enough time to come up with a compromise, before it's too late. While this doesn't seem to be slowing down shoppers here in KELOLAND, many say it's time to get things done.
"I just think they need to get to Washington and get to work and get the work done," Rodney Gutzler said.
A few people we spoke with believe both sides of the aisle are to blame for this most recent delay.
"This is one of those big things that I think really should get done in time. And both Republicans , if they didn't get the message when they weren't voted back in. And now with Obama, if he's not noticing that hey, we kind of voted for you back in because of what we had to choose from. It really was disappointing to find out, to hear that last night," Omar Thornton said.
"The constant clash between Republicans and Democrats in Congress, it really needs to end," Gutzler said,
The Pew Research Center recently asked, "Will going over the Fiscal Cliff affect the economy?" And 68 percent of those asked said yes.
Of those people, 62 percent said the impact would be mostly negative.
"Well it might have a little impact on me, on my stock market," Audrey Jones said.
While there is some widespread concern for the future of our economy, a few people like Audrey still have faith in their elected officials.
"I think they'll figure it out. You have to have trust in your government. And I still have that great pride of an American citizen," Jones said.
Economists say without a plan to prevent New Year tax increases and spending cuts, the U.S. could be sent into recession.