Absent any action, a series of tax hikes and spending cuts will take effect Jan. 1 that might well knock the country back into recession. This will be a moment of peril, but also of opportunity. How the president-elect navigates it will go a long way towards determining the success of his presidency and the health of the nation.

President Barack Obama is better positioned to be that navigator than is his Republican challenger, former Massachusetts governor Mitt Romney.

Read the full endorsement here.

[Washington Post Presidential Endorsement of Barack Obama]