Avoiding the Fiscal Cliff

President Obama and Congressional leaders on Friday reopened budget negotiations that ended badly in 2011 with surprising bipartisan bonhomie, and even some initial agreements toward a year-end deal. Yet a familiar hurdle remains before any handshakes: resolving the parties dispute over whether to extend the Bush-era tax rates for the wealthy.

Taking a break from deficit negotiations for a whirlwind tour of southeast Asia, President Obama joked this afternoon as he toured a sacred Buddhist temple that he could use some prayer to help reach a budget deal.