73
      Thursday
      86 / 62
      Friday
      87 / 63
      Saturday
      85 / 64

      Sen. Warner: 80% Chance U.S. Will Avoid Fiscal Cliff

      Lynchburg, VA - Time's running out for politicians to decide what to do about the fiscal cliff.

      Senator Mark Warner led the Gang of Six, a bipartisan deficit-reduction panel. He says he is 80% confident the U.S. economy will not go off the cliff.

      At this point, the president and the speaker are negotiating a deal. One thing's for sure: If we go over, the deficit will shrink. But Warner says that's not a good path to take; it's too much austerity too fast.

      "You look at countries like Greece who put on all the breaks at once. Now, they've gone from 11% unemployment to 25%. I think doing this too fast would cause us to go back in to another recession," said Warner in a Skype interview Thursday.

      Warner wants to see higher taxes for the wealthy, as well as cuts to get our economy back on track.

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