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12. The 'Fiscal Cliff' President Barack Obama and
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12. The 'Fiscal Cliff'
President Barack Obama and Speaker of the House of Representatives John Boehner spent the waning weeks of 2012 negotiating to avoid the "fiscal cliff" -- the severe economic impact expected from a combination of expiring tax cuts and across-the-board cuts in government spending that would automatically kick in at the end of 2012 without a deficit-reduction agreement.
PHOTOS: Cartoonists visit the fiscal cliff | President Barack Obama | Timeline: Obama's first term
(Credit: AP, 2012)

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Top 12 nation/world stories of 2012

The top 12 nation/world stories of 2012 from newsday.com. -- By Newsday Staff