WASHINGON — Election year partisanship and controversy largely elbowed credit union topics off the agenda on the first day of NAFCU's 2012 Congressional Caucus. The annual event began Sept. 12, right at the beginning of a short congressional session before legislators head home to campaign for the November elections.

Rep. James Clyburn (D-S.C.), assistant Democratic leader, kicked off the morning's legislative speakers , telling credit union executives that he believed that Congress would resolve lingering debt reduction and budget impasses in time to avoid a series of Jan. 1 tax increases and budget cuts that become known as the fiscal cliff or sequestration.

"I am convinced if I were taking a bet, we would not get sequestration," Clyburn said. "I think that all of us are well- educated enough to know that we cannot run the risk. Therefore,  the lame duck session will be one where we do some short-term fixes for the problem."