Are parties hurtling toward ‘fiscal cliff’?

A key observer said Wednesday that he puts the chances of Congress reaching a deal before the Jan. 1 “fiscal cliff” deadline at less than 1 in 3.

With the presidential seal in the background, President Obama pauses in the Eisenhower Executive Office Building on the White House campus in Washington on Wednesday, Nov. 28, 2012, where he spoke about how middle-class Americans would see their taxes go up if Congress fails to act to extend tax cuts. (AP Photo/Pablo Martinez Monsivais)

With the presidential seal in the background, President Obama pauses in the Eisenhower Executive Office Building on the White House campus in Washington on Wednesday, Nov. 28, 2012, where he spoke about how middle-class Americans would see their taxes go up if Congress fails to act to extend tax cuts. (AP Photo/Pablo Martinez Monsivais)

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