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By Robert Pozen
Published: November 18 2010 21:58 | Last updated: November 18 2010 21:58
Despite the dramatic changes in the November midterm elections, the "old"? Congress must address two key issues in the lame-duck session before Christmas. Everyone knows that Congress must decide whether to let the Bush tax cuts expire at the end of 2010. Less well known is that Congress must make an important decision in early December on the federal budget for the current fiscal year.
Before going on election break, Congress did not enact a budget for the fiscal year beginning on November 1 2010. Instead, it merely resolved to extend last year's budget until December 3 2010. What will happen on that date?
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