Here in Washington, House Speaker John Boehner addressed a major economic issue this morning. In a press conference, the Republican talked about the so-called fiscal cliff. That's the combination of higher tax rates and spending cuts due to take effect at the end of this year.
Good morning. I'm Renee Montagne. In his acceptance speech, the president said he would reach out to his Republican rival. And for sure, the future holds brotherly love for Barack and Mitt - in Kenya. That country has long embraced Barack Obama as one of its own, but this week a young mother seems to have caught the spirit of reconciliation. On Wednesday, Millicent Owuor gave birth to twin boys, and she named them Barack Obama and Mitt Romney. You're listening to MORNING EDITION. Transcript provided by NPR, Copyright NPR.
Speaker Boehner also said he wants to work with the president to keep them from going over the fiscal cliff - higher taxes and spending cuts that take effect at the end of the year. The Congressional Budget Office warns of a new recession if Congress doesn't make changes. NPR's Scott Horsley has our daily look at the bottom line.
The governor of New York, Andrew Cuomo, also held a press conference yesterday, and gave a warning that Sandy could end up costing his state $33 billion in economic damage, which could worsen the state's already-perilous fiscal situation.
NPR's Jim Zarroli reports.
JIM ZARROLI, BYLINE: Cuomo said the initial estimates are that the storm will cost the region $50 billion in lost economic activity and infrastructure damage. And he said two-thirds of that will be borne by New York.