An occasional series,Fiscal Cliff Notesbreaks down the looming "fiscal cliff" of expiring tax cuts and deep automatic spending cuts set to hit around the first of year.
About 80 percent of Americans would see their taxes go up if all the tax cuts signed into law by President George W. Bush were to expire as scheduled at the end of this year. And nearly 100 percent of the highest income earners would have to pay more — including both the Obamas and the Romneys.
The London Summer Olympics officially begin today with the opening ceremony. Oscar-winning director Danny Boyle of Slumdog Millionaire has put together the latest Olympic kickoff spectacle. As NPR's Philip Reeves reported yesterday, a preview video has been released.
The Los Angeles City Council voted Tuesday to shut down all of the medical marijuana dispensaries in the city. That's no easy task. There are more than 800 of them — more than the number of Starbucks coffee shops in Los Angeles. But after years of struggling to regulate pot shops, city officials have decided to prohibit them altogether.