President Barack Obama is scheduled to make remarks on the so-called Fiscal Cliff Monday at 1:30 p.m. EST.
Congress and the president have been intensely negotiating a solution to the Fiscal Cliff, a combination of spending cuts and tax hikes which some analysts believe would plunge the United States back into recession. Without a deal in place, the cliff will be triggered at midnight Tuesday as 2012 ends and 2013 begins.
Negotiations which took place over the weekend and earlier Monday reportedly brought Democrats and Republicans closer to a deal, details of which Obama may be officially announcing during this address.