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Transcript

MICHEL MARTIN, HOST:

I'm Michel Martin, and this is TELL ME MORE, from NPR News. Coming up, we're hearing a lot about the so-called fiscal cliff: those automatic spending cuts and tax hikes that will take effect if lawmakers and the White House don't come up with a deficit reduction plan by the end of the year. We're going to focus on a tax hike that may hit many more people than you might think. We'll have that conversation in just a few minutes.

If the government goes over the "fiscal cliff," millions of households could see tax increases because of an obscure part of the tax code, known as the alternative minimum tax. Host Michel Martin talks with NPR Business Editor Marilyn Geewax about exactly what could happen and who would be affected.

Update at 11:30 a.m. ET: The Associated Press just moved a "bulletin" saying that according to a "senior defense official" the emails between Gen. John Allen and Jill Kelley were "flirtatious."

Update at 4:33 p.m. ET: NPR's Tom Bowman reports that U.S. officials tell him Paula Broadwell sent Gen. Allen messages warning him about Kelley. Allen, in turn, warned Kelley about those messages.

Our original post:

Virtually everyone agrees that allowing the nation to fall off the fiscal cliff would be a bad thing.

Government programs would be cut, taxes would rise significantly on a majority of Americans, and according to the Congressional Budget Office, the economy would fall back into recession.

But get this: Even if all of those things happen, there would still be a budget deficit.

In Washington scandals, the question is usually what the White House knew.

But in the case of former CIA Director David Petraeus, lawmakers are asking why President Obama did not know about a federal investigation that had found evidence Petraeus was having an affair.