Will fiscal-cliff deal be reached today?

Working against a midnight deadline, negotiators for the White House and congressional Republicans narrowed their differences Monday on legislation to avert across-the-board tax increases, the Associated Press reports.

Congressional officials familiar with talks  said one major remaining sticking point was whether to postpone spending cuts that are scheduled to begin on Jan 1.

Republicans want to replace across-the-board reductions with targeted cuts elsewhere in the budget, and the White House and Democrats were resisting. At the same time, Democrats said the two sides were closing in on an agreement over taxes.

Do you think an agreement will be reached today and we will avoid the fiscal cliff?

15 comments Add your comment

abc

December 31st, 2012
10:39 am

I don’t care if they do or not. To me, we just go back to tax rates from 10 years or so ago. Big deal. Will it cost me $6-8K in the end? Sure. Fine. Now stop spending too much money, big government. Reduce the debt. Don’t lift the debt ceiling. Be responsible for a change.

Harold Williams

December 31st, 2012
10:56 am

new oxymoron “congressional leadership”

[...] Post (blog)Even with deal, payroll tax likely to riseUSA TODAYWith 14 hours to goMSNBC (blog)Atlanta Journal Constitution (blog) -ABC News -Wall Street Journalall 13,232 news articles » Share Tweet This [...]

TheDixieDove

December 31st, 2012
11:50 am

Republicans Set Record For Ruin
Constitutional Option Time!
http://TheDixieDove.com/
The Republican party has taken obstinance to historically record breaking heights in their dealings with this president. That is simply a fact and the records show it. Never in US history has one party in our Congress been so hateful and stubborn as to block all legislation (no matter how disagreeable) from being discussed and voted on.

In four short years this has become the ‘new norm’ from the Republicans and corporate media have accepted this as the new norm! It is no longer referenced or even mentioned in analysis of congress by these lazy/bought-off pundits.

BUT THIS CANNOT BE THE NEW NORM IF AMERICA IS TO SURVIVE. We can’t move forward in the modern world, as a nation, with this hateful arthritic political philosophy!

I say the time has come for Senate Leader Reid to resort to the ‘Constitutional Option’ and change the filibuster rule for the Senate at the start of the next congress. If David Gregory and our other lazy pundits won’t keep America properly informed about the fact that there is a GOP mugging going on in Washington, then they won’t be held accountable at the polls; and so then, let the constitution hold them accountable!

Truth

December 31st, 2012
12:34 pm

The problem is not the Republicans, it is Obama and the rest of the Democrats who do not want the government to shrink. They continue to spend more than they make, which is what all of their foolish constituants do as well. Unfortunately for people like me who actually spend less than I make and take accountability for increasing my net worth with each passing day, there are now more sorry people in the US who don’t want to do a thing, but yet they think they should receive money just for being born. And they hate people who have been successful and have more than they do. The haves and the have nots. Obama and his fools would have us standing in government bread lines with no private property ownership if they had their way.

Truth

December 31st, 2012
12:37 pm

And No, we will not avoid the Fiscal Cliff. But it doesn’t matter. I will just buy more stock when it tanks, and when the market picks back up, I will count my money and smile!

Lt Col Razorback

December 31st, 2012
12:44 pm

I seriously doubt that we won’t go over the “fiscal cliff”. And, I put the responsibility for failing avoidance to BOTH parties. The Dems oppose cutting spending and the GOP opposes raising taxes. Of the two options, I personally like keeping more of my money and believe government has grown too big. Since I am a Federal employee, I know a little about why our government is too big and inefficient. Let me be a “Dictator for a Day” and I could clean house on both the size and efficiency of our government. :)

Obama care???

December 31st, 2012
12:48 pm

Obama need to talk with all of Congress and not just the leaders. Does he think he is too good to speak with all the elected senators and house of representatives? He needs to show leadership. I think his lack of experience ( 176 total days in Senate) and his cluelessness on any economic concepts will ruin this country.

Wilbur

December 31st, 2012
1:06 pm

We are spending about 3.5 trillion a year and take in about 1.5 trillion. The democrat soak the rich plan will raise about .1 trillion a year. Without reductions in spending, it will be nessessary to impoverish the American people to get to a balanced or near-balanced budget.
The President has been dishonest in making this all about taxes. Spending cuts are absolutely essential to put our financial house in order.
Are there any grownups left?
Not in the ranks of the press who have shilled for one side relentlessly.
Certainly not in the ranks of the democrats who need the votes of the stupid, the failed and the disconnected to keep their majority.

Kadeem

December 31st, 2012
6:37 pm

If I never hear “fiscal cliff” again it’ll be too soon, that has to be the most overused meme in media history.

We’ll eventually get a little window dressing tinkering around the margins on spending, but we the people are hopelessly hooked on transfer payments and entitlements. Long as the government can create $$$ out of thin air (thank you Ben Bernanke) very little will change.

skeeter

December 31st, 2012
7:15 pm

Truth Another of those hundreds of compassionate conservatives eh? Has there ever been a more hilarious oxymoron that compassionate conservatism? Cracks me up every time I read it.

skeeter

December 31st, 2012
7:25 pm

Wilbur Let’s see Wilbur- you got your butt handed to ya again with your rombot man right? Really sucks to lose twice like you did to President Obama-right?. Ya kept throwing every racist trick you could at him- from day one of his presidency but turns out your usual slash and burn politics just didn’t work with Americans for the past 2 elections. Please, please keep doing what you have been doing- please stay lily white and keep telling America why we should hate immigrants and gays and blacks and those different from you. Keep wrapping yourself in the Bible and the flag while you completely ignore the words of Jesus regarding loving your neighbor and those who are different from you. You are nothing more than sad little men that need Jesus more than you can even imagine.

Wilbur

December 31st, 2012
8:29 pm

A billion dollars a year in the hole and we re fiddling . Without meaningful spending cuts we will be bankrupt shortly. Politics aside, we need to get serious about living within our means.

Wilbur

January 1st, 2013
1:57 pm

Even if a phony deal is reached today, nothing significant will be accomplished. The US government is spending far more money than it takes in and far more money than it can raise in taxes without destroying our economy. With a debt of 16 trillion we are adding to our debt at a trillion a year. Our total tax income is about a trillion and a half.
To make progress, we simply must make significant, long term changes in what the government spends. Failure to do so will doom the republic.

press release writer

January 1st, 2013
4:16 pm

So $1 in spending cuts for every $41 in tax hikes is the best Republicans can negotiate with Obama, Pelosi & Company? If so, it’s time to move my investments offshore while the dollar still has some value.

Meanwhile, gathering some links to Heritage and other analysis of the debt situation: http://www.pressreleasewriter.info