Fiscal Cliff Deal Brings New Fight Over Social Welfare

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Fiscal Cliff Deal Brings New Fight Over Social Welfare

After much drama, the "fiscal cliff" has come to an end — for now. We look at what is in the Senate deal approved by the House Tuesday night with economist Juliet Schor. The bill lays the groundwork for future battles between Democrats and Republicans over decisions on federal spending and debt, when much of the focus is expected to be on cuts to so-called entitlements. "The government needs to be spending to do the things the country needs," Schor says. "So we need to be spending on shifting into a clean energy paradigm." Schor is a professor of economics and sociology at Boston College and author of "True Wealth: How and Why Millions of Americans Are Creating a Time-Rich, Ecologically Light, Small-Scale, High-Satisfaction Economy."