By Peter Schroeder

Businesses want Washington to increase the U.S. debt limit as part of a package to avoid the “fiscal cliff,” thus averting two crises in one go.

But conservative Republican lawmakers would cry foul. For, while corporate America wants to head off market turmoil and the economic uncertainty that debt-limit drama might bring, Republicans want to use the threat of a debt-limit standoff to extract the biggest spending cuts possible.  Read more…