Each day, I will dutifully report this stuff, but I’m refusing to buy into the drama of it—yet again. It is a waste of our time. They are going to do whatever they want to do, and it doesn’t matter one single bit what we want, or what is good for us. In fact, they will likely try to do something that is as bad for us as they think they can get away with. If they had any decency, the way forward is clear. What they are trying to achieve has nothing whatsoever to do with what might be good for us. By now, if we don’t understand this, permit me to say that we should! ~J
The bipartisan agreement struck in the Senate to avoid the worst effects of the “fiscal cliff” ran into strong opposition in the Republican-controlled House on Tuesday, with GOP members criticizing the deal for raising taxes without cutting spending. But Tuesday evening, House Republicans reversed course and charted a path toward the likely passage of the bipartisan agreement struck in the Senate to avoid the worst effects of the “fiscal cliff”, setting up a late night vote to complete a wild day in which the critical legislation appeared to be on its political deathbed for several hours.
HEADLINES
- ‘Cliff’ deal hits snag with House Republicans
Cantor says he opposes deal; fast passage are hopes fading. If no agreement is reached at noon on Thursday, negotiations would have to start over in the next Congress.
» Read full article - WONKBLOG: Everything you need to know about the deal
The agreement primarily targets taxpayers earning more than $450,000 per year, but there’s much, much more.
» Read full article - Cantor opposes Senate deal
After a two-hour meeting in which House Republicans debated the “fiscal cliff” deal passed by the Senate, House Majority Leader Eric Cantor (R-Va.) emerged and told reporters that he opposes the Senate’s deal.
» Read full article - THE FIX: Fiscal cliff deal: Winners and losers
We cut through all the spin and give you what you really want: a list of who won and who lost in the cliff fight.
» Read full article - House Dems call for ‘up or down vote’
House Minority Leader Nancy Pelosi (D-Md.) tweeted Tuesday evening that House Democrats heavily favored the Senate-passed bill to avoid the fiscal cliff by raising taxes on the wealthiest Americans.
» Read full article - WONKBLOG: The fiscal cliff deal’s price tag: -$3.9 trillion or +$600 billion
The eleventh-hour solution — if it passes the House, which is now in doubt — won’t move the needle by very much on the deficit, though the price tag depends on what you’re comparing it with.
» Read full article - Proposed ‘fiscal cliff’ deal falls short under three economic theories
Economists generally offer three theories for what’s hampering the still-sluggish U.S. economy. Under none of them can the White House-Senate deal to avert the “fiscal cliff” be considered an economic success.
» Read full article - Washington’s ‘closers’ to the rescue
Joe Biden, Mitch McConnell also struck late deals in 2010 tax-cut fight, 2011 debt-ceiling crisis.
» Read full article
FEATURED CONTENT
Video: Growth and bloat could be trouble for ‘cliff’ deal
Tax breaks for rum producers and racetrack owners are some of the growth that lawmakers have added to the “Fiscal cliff” deal. The Washington Post’s David Fahrenthold talks about some of the lesser known measures in the new legislation and how the deal could be blocked or amended.
Thanks Jean, Great “first” paragraph, well said-
Their own actions been reflected back at them. I beleive in living honestly, morally, happily, joyfully et. all this good stuff life has to offer, as for the others it is a planet of a free choice