Jay Carney briefed reporters and answered questions. Topics included “fiscal cliff” negotiations, the civil war in Syria, and North Korea’s recent long-range missile launch.
“Fiscal cliff” referred to the impending tax increases and sequestration budget cuts at the end of 2012 if Congress failed to reach a new budget agreement. "Sequestration," a legal procedure in which automatic budget cuts are triggered, was agreed to in the Budget Control Act of 2011.