US President Barack Obama speaks before Speaker John Boehner (R-OH) Secretary of the Treasury Timothy Geithner (3rdR) and other cabinet members during a meeting on November 16, 2012 in Washington,DC. Obama said Friday that Democrats and Republicans needed to make 'tough compromises' in order to overcome divisions over deficit reduction and avoid the fiscal cliff.
It's looking more optimistic that Washington will come to a deal to avoid the fiscal cliff. After last Friday's meeting between the President and Congressional leaders, Wall Street is reacting with positivity this mornin, and all indices are up by more than a percent.
That doesn't mean the worrying has stopped. Anxiety about what may or may not happen is driving small businesses and investors to take precautionary measures, just in case they're hit with higher tax rates.
Daniel Gross, the global finance editor for The Daily Beast and Newsweek, joins the show.