10 things you need to know today: November 29, 2012

Obama predicts a fiscal deal by Christmas, two winners hit the Powerball jackpot, and more in our roundup of the stories that are making news and driving opinion

 A sign outside the One Stop Mart in Chicago displays the record Powerball jackpot.
(Image credit: Scott Olson/Getty Images)

1. OBAMA HOPES FOR FISCAL CLIFF DEAL BY CHRISTMAS

President Obama, who heads to Pennsylvania on Thursday to stump for his plan to avoid the fiscal cliff, said he hoped to reach a deal with Republicans before Christmas. Obama urged Americans to use Twitter to pressure lawmakers to compromise on a deficit reduction plan to prevent punishing automatic tax hikes and spending cuts from taking effect Jan. 1. GOP unity against Obama's call for raising tax rates on the wealthy has begun to falter — conservative Rep. Tom Cole (R-Okla.) said Wednesday he'd back an agreement to raise rates on the rich but extend tax cuts to the 98 percent of Americans making less than $250,000. "Why make the American people wait through 30 days of this, wondering — 98 percent of them — if their taxes are going to go up," Cole said. [Reuters]

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up
To continue reading this article...
Continue reading this article and get limited website access each month.
Get unlimited website access, exclusive newsletters plus much more.
Cancel or pause at any time.
Already a subscriber to The Week?
Not sure which email you used for your subscription? Contact us
Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.