Fiscal Cliff Now Just Over One Month Away - New York News

Fiscal Cliff Now Just Over One Month Away

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With the long holiday weekend now over, the nation's capital turns again to the rapidly approaching fiscal cliff, now just over a month away.

You can hear the hum in the air at Amazon's distribution centers, gearing up for what they hope will their busiest day of the year.

President Barack Obama helped juice retail numbers himself this weekend with some Christmas shopping at a Virginia book store.

But on Monday morning, the White House is warning what could happen to retail sales if government spending cuts and massive tax hikes kick in at the end of the year: the fiscal cliff.

It's a concern retailers have already been talking about. Shoppers are uncertain.

Some Republicans have taken a step toward the president since the election, showing a willingness to raise taxes by capping deductions for high earners.

But rates, Republicans say, should stay where they are. And this only works if Democrats agree to spend less.

Fox News' Doug Luzader has more details in this video report.

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