Fiscal cliff action to come Sunday … maybe

Harry Reid returns to his office Friday(The New York Times/T.J. Kirkpatrick)

Harry Reid returns to his office Friday after White House meeting (The New York Times/T.J. Kirkpatrick)

The United States Senate has the ball in its hands.

This afternoon’s White House fiscal cliff summit appears to have generated some movement toward a deal, with just more than 72 hours to go. Senate Majority Leader Harry Reid and Minority Leader Mitch McConnell both took the floor afterwards in an unusually conciliatory manner, pledging to work with their staffs to come up with a plan that can pass both Houses of Congress. Reid said “we’ll see what we can come up with.” McConnell said he was “hopeful and confident” that both sides will have a deal to take to their conferences shortly after 2 p.m. on Sunday. The words were noncommittal, but the tone was a vast improvement over the deep freeze of recent days.

That would likely be a short-term deal. President Barack Obama did not present a new plan at the meeting — a fact that, once leaked, caused a stock market dip — and told reporters this evening that he was “modestly optimistic:”

I’m optimistic we may be able to reach an agreement that can pass both houses in time. Sens. Reid and McConnell are working on such an agreement as we speak. If an agreement isn’t reached in time between Sen. Reid and Sen. McConnell I will urge Sen. Reid to bring to the floor a basic package for an up-or-down vote. … The American people are watching what we do here. Obviously their patience is already thin. This is déjà vu all over again.

House Speaker John Boehner also showed some wiggle room here. Democrats’ primary fear is that they go out on a limb on taxes and spending, and then the House does not bother to take it up. Boehner’s failure to whip votes on his “Plan B” did not inspire confidence across the hall. But with help from Democrats, Boehner can shepherd something to passage — it just might not be what the conservative base of his caucus likes. Here’s what a Boehner aide had to say after the White House meeting:

The Speaker told the President that if the Senate amends the House-passed legislation and sends back a plan, the House will consider it – either by accepting or amending. The group agreed that the next step should be the Senate taking bipartisan action.

This is a significant signal to the Senate that any Reid-McConnell accord would make it to the House floor. The details, as always, remain up in the air.

- By Daniel Malloy, Political Insider

For instant updates, follow me on Twitter, or connect with me on Facebook.

407 comments Add your comment

Voter

December 28th, 2012
6:27 pm

Typical political posturing.

Lil' Barry Bailout - OBAMAPHONE!!!

December 28th, 2012
6:55 pm

Why would progs be so worried about returning tax rates to what they were during the Clinton administration?

td

December 28th, 2012
7:11 pm

Let us see the spending cuts the Dems have before we agree to any tax hikes.

Kris

December 28th, 2012
7:25 pm

There may have been an election, but that didn’t settle things. We’re exactly where we were this time last year

Stupid GOP people hold America HOSTAGE Again and again.
Smart people prepare for what is going to happen. (out looking for 2nd job).
I has spoken, preparations have been taken.
Hang glider is prepared for liftoff.

Fire Boehner! Recall his sorry A$$, Arrest him foe impersonating a humam

td

December 28th, 2012
7:31 pm

Kris

December 28th, 2012
7:25 pm

You actually believe that raising taxes on the rich is going to solve our problems. You bought the BS and you actually thought one election was going to make Obama the supreme leader again. I feel sorry for you but the good news is that you are actually learning and there is hope for you when you finish growing up.

Aesop's Fables and other Lib Economic Theories

December 28th, 2012
7:44 pm

oboz didn’t present a new plan? When did he ever present a plan?

Well, except for his vacation plans.

Aesop's Fables and other Lib Economic Theories

December 28th, 2012
7:45 pm

And I’ll bet he’s got a plan for tomorrow’s round of golf.

Voter

December 28th, 2012
8:09 pm

@Kris – Stupid GOP people hold America HOSTAGE Again and again.

Kris, who do you think passed the Budget Control Act of 2011 that is about to start these cuts? Your Dems as well as the president signed it. Stop blaming the GOP when you don’t know what you are talking about.

td

December 28th, 2012
8:25 pm

“If you put tax increases on the table, there’s never any spending restraint,” Norquist said, citing examples where taxes went up under previous administrations but spending continued unfettered.”

“All Obama has done for the last four years is clamor for higher taxes to spend more money,” the president of Americans for Tax Reform told CNBC. “The only time we’ve beat him back on spending at all was during the debt-ceiling crisis.”

Norquist said Obama was “willing to save $1 trillion by not occupying Iraq for the next decade. He wanted to count that like not continuing the War of 1812 was his budget cut.”

He added that raising taxes isn’t a compromise because the problem is spending.

http://www.cnbc.com/id/100344156

Shine

December 28th, 2012
8:26 pm

The president is punking out if he doesnt stick to his guns on the above 250 grand going back up to the clinton rates.

He has already punked out even suggesting some other form of cost of living adjustment for SOCIAL SECURITY that will be even worse than the farce presently used which is no where near the actual cost of living increase. I am retired. My cost of living this year is 40 bukcs a month. What a crock of bs.

If he does it will prove he is a weak arse president but still better than the kook romneyy/ryan ticket.

Shine

December 28th, 2012
8:29 pm

I am pretty sure ending a war is a spending cut even to most kooks. Of course they some norquist worshippers aka nuts who wouldnt see a new unfunded war as a spending increase.

Shine

December 28th, 2012
8:32 pm

TD, you kooks dont have to agree to any tax hikes. They coming in 4 days regardless. We will remember the GOP treachery in two years.

Voter

December 28th, 2012
8:33 pm

@Shine – “…but still better than the kook romneyy/ryan ticket.”

Better? Very funny, your hussein obama has spent more than any president in history in 4 years, yet others are to blame. Why don’t you stop and smell what your shoveling?

CONS...JUST not RIGHT

December 28th, 2012
8:35 pm

Obama’s 57% approval rating is not an ILLUSION.

CONS will pay in 2014.

Just like they did in 2012.

Hillary for President in 2016.

Liberals 2 Cons ZZZZZROE

Cons will never win the White House after this shameful

DEBACLE.

WE WILL NEVER FORGET WHAT THEY DO AND WHAT

THEY DID.

Shine

December 28th, 2012
8:38 pm

Dear Voter the kook, The President has only spent what past Congresses have agreed to. For instance, when Reagan the Great pushed for this and that and agreed to this and that and it was all unfunded, the debt ceiling has to go up because of Reagan etc etc etc..

How you like tehg smell of the truth?

Shine

December 28th, 2012
8:41 pm

Dear Voter the kook, who is to pay for Bush’s unfunded Medicare Part D? Oh that too is Obama’s fault.

I can do this all day.

Voter

December 28th, 2012
8:45 pm

@Shine – lol, “How you like tehg smell of the truth?”

The truth? Not sure how old you are, but you should check the facts before typing your nonsense.
With Reagan and then Bush, this Country was returning to it’s world dominance in production as well as GDP. Also, if you check you will see the increases in National Debt increased dramatically under hussein obama. At the same time we have had record highs in unemployment. How’s that for the truth?

CONS...JUST not RIGHT

December 28th, 2012
8:46 pm

@td

December 28th, 2012
8:25 pm
“All Obama has done for the last four years is clamor for higher taxes to spend more money,” the president of Americans for Tax Reform told CNBC. “The only time we’ve beat him back on spending at all was during the debt-ceiling crisis.”

++++++++++++++++++++++++++++++++++

Po folks defending RICH folks.

AIN’T THAT RICH.

A POOR man would rather the RICH pay less TAXES than he does

because Obama wants to raise taxes on the rich.

“SOME”…….(we know who they are) POOR FOLKS ARE DUMB AS HECK.

WHY is it that “SOME” poor folks who opposes Obama all talk with a Southern drawl?

Why is it?

Voter

December 28th, 2012
8:47 pm

@Shine – Bush isn’t President- hussein obama is and he hasn’t kept 1 promise that he campaigned for except obamacare. let’s see how that works for you

Voter

December 28th, 2012
8:49 pm

It’s funny with ObamaCare that the democrats are now asking for the increase in taxes be delayed. I thought ObamaCare was a good thing for American’s with no tax increase or loss of benefits? Hmmm

Voter

December 28th, 2012
8:51 pm

@CONS…JUST not RIGHT – “WHY is it that “SOME” poor folks who opposes Obama all talk with a Southern drawl?”

“Why is it?”

How do you determine a Southern drawl from typed words? Like Y’all or Ain’t? lol

Shine

December 28th, 2012
8:54 pm

Thank God Obama was reelected and America was saved. I am plenty old enough Voter the kook. I remember the 18% interest rate for mortgage loans under Reagan the Great. And the interest alone for the Reagan and Bushey family deficits is like 250 billion a year or 2 trillion over a decade just by themselves.

Man them some great fiscal conservatives in the GOP by golly.

Voter

December 28th, 2012
9:08 pm

@Shine – obviously you don’t remember – hussein obama has that all beat but in the wrong direction. Look at gas prices, unemployment, national debt, 5.2 trillion increase in debt, the list goes on. Not to mention other Presidents were able to work with both sides on the House and Senate. All hussein can do is hire people for his cabinet who are not qualified and owe taxes themselves. Let’s not forget the Czars. And what was his answer to businesses to increase jobs? oh yeah, let’s create a Secretary of Business. More Government, yeah that’s what we need.

Voter

December 28th, 2012
9:15 pm

@Shine – “Thank God Obama was reelected and America was saved.”

Saved? Get real. You need a DiNozzo slap upside the head.

td

December 28th, 2012
9:16 pm

Shine

December 28th, 2012
8:26 pm

The COLA was never in the original plan for SS and is part of the reason it is running a deficit and will probably not be around when I retire. It is as bad a your President using up funds by having the SSA to approve more people then any other President in history to receive SSI so that he could get the unemployment numbers down before election. And while you are at it think about how much the cut to “payroll taxes” are costing the trust fund now and in the future.

Yes, Obama is responsible for this plus a trillion dollar a year deficit but you just go ahead and keep thinking he is taking care of you and keep voting for them Dems all the way until the time they actually have to cut your benefits because the country is bankrupt.

BTW: Even if the taxes go back up to Clinton era rates for people over $250,000 that only adds $80 billion to revenues (before you take out for the negative effects that will cause layoffs) and will still are $1 trillion in the hole.

Shine

December 28th, 2012
9:18 pm

Voter…yawnnnnnnnnnnnn…….I remember well. Spending is bad only when democrats do it. Spending cuts are fine too just dont cut any republican kook goodies.

You nut supporters lost the election. Grow up and take the defeat instead of whining like sore losing infants.

td

December 28th, 2012
9:20 pm

CONS…JUST not RIGHT

December 28th, 2012
8:35 pm

Maybe you should read Nate Silver’s (lib guru) article linked earlier today on this blog. He said there is no way Republicans will lose the house for at least 10 years.

Voter

December 28th, 2012
9:21 pm

@Shine – Old news. hussein is in office now and the past 4 years. Let’s hear what he has done for America.

td

December 28th, 2012
9:23 pm

Shine

December 28th, 2012
9:18 pm

Republicans lost the Presidency and the voters decided that they should not lose all power and wanted a check so they left the Republicans in charge of the HOR’s. This means Obama must COMPROMISE and give in to the ones that control the house because they control the money. If you do not believe this then ask Regan or Clinton what they had to do to get anything done.

Voter

December 28th, 2012
9:23 pm

@td – well said about taxes. They just don’t get it. Spending has got to stop.

Bob Loblaw

December 28th, 2012
9:23 pm

Time for the Speaker to lead. That caucus doesn’t approve whatever the Senate passes and splits, with Dem support, to get a deal? The TEA Party dies. At some point, the problems have to be addressed and if you don’t have the votes, you negotiate. The “a-wholes” Westmoreland referred to better get on board or be left behind. The country needs them, but they’re playing to the political base back home that cost the GOP the U.S. Senate and the White House.

Shine

December 28th, 2012
9:24 pm

TD, Social Security is not running a deficit. Perhaps if Republicans hadnt borrowed the surplus money for unfunded wars etc deficits would be less.

I keep hearing its only this and that much if the top tax rates go up. If its only that much then why all the whining and crying like kids in Toys R Us who didnt get their way?

Oh, I have mostly voted Republican until this year, But now when I go in its to “Boot a Kook and Vote Democratic”.

td

December 28th, 2012
9:27 pm

Obama is going to cave and cut COLA’s for seniors but he made sure his elected friends got a raise by an executive order.

http://www.weeklystandard.com/blogs/obama-orders-raise-biden-members-congress-federal-workers_692223.html

Shine

December 28th, 2012
9:27 pm

Voter

December 28th, 2012
9:23 pm
@td – well said about taxes. They just don’t get it. Spending has got to stop.

Speaking of not getting it,one of you kooks’ hero Tom Price was just not long ago talking about how great it was a 700 billion plus military budget was passed with his vote.

Funding race cars for NADCAR etc…….paying Brazillion cotton growers subsidies. etc etc etc.all these were too good to get cut by the we serious about cutting republican blowhards.

Shine

December 28th, 2012
9:28 pm

td

December 28th, 2012
9:27 pm
Obama is going to cave and cut COLA’s for seniors but he made sure his elected friends got a raise by an executive order.

Good for him. Its what a Republican would have done.

td

December 28th, 2012
9:29 pm

Bob Loblaw

December 28th, 2012
9:23 pm

It is time for Obama to learn the lesson that Regan and Clinton learned. If you are the President of one party and the other party is in control of the house then the house gets 90% of what they want and you get 10% of what you want.

td

December 28th, 2012
9:34 pm

Shine

December 28th, 2012
9:27 pm

“Speaking of not getting it,one of you kooks’ hero Tom Price was just not long ago talking about how great it was a 700 billion plus military budget was passed with his vote.”

Our spending was $3 trillion last year and $700 billion was on the military. The military is one of the very few things the Federal government is suppose to be raising taxes and spending money on. Total Revenues coming into the government was $2 trillion so the military budget is covers. All other programs need to cut out the missing $1 trillion.

catlady

December 28th, 2012
9:34 pm

“Spending has just got to stop” but not on the programs used by ME or MINE.

Voter

December 28th, 2012
9:37 pm

@td – Well said again. @Shine just doesn’t see it. It’s like talking to a Democrat who voted hussein into office and trying to make sense of it.

Voter

December 28th, 2012
9:38 pm

@catlady – What programs used by ME or MINE do you refer to?

catlady

December 28th, 2012
9:38 pm

To save Social Security STOP GIVING PAYMENTS TO THOSE WHO HAVE NOT WORKED FOR THEM! In this day and time, there is virtually NO REASON that a spouse should not draw on THEIR OWN record. STOP giving payments to children. Give payments only to the person who did the work, who earned the payment from their own paycheck deductions.

Get Real

December 28th, 2012
9:43 pm

Shine, I believe you have missed your meds as you are scribing delusional posts…please seek immediate medical attention..

Obama, president of the uninformed and low information voter

Voter

December 28th, 2012
9:45 pm

@catlady – your Social Security idea sounds good, I think, not sure but I think when they give money to the children it’s the children of parents who paid in and have died. Anyway, the cuts I mean are for like entitlements, welfare, food stamps for LIFE. That needs to stop. Also, they could cut salaries by 5%, cut wasteful agencies like GSA, stop unnecessary travel, stop giving hundreds of millions to countries that hate us. Etc.

Shine

December 28th, 2012
9:46 pm

Yes ole Shine just dont get it. We need 700 billion for “defense” when that’s more than about the next 10 countries combined.
Ole Shine is a real fiscal conservative. Not one of the kook phonies.

Voter

December 28th, 2012
9:48 pm

@Shine – You don’t get it. Our military is essential. Let me guess, you never served or no one in your family, right? Your family are the ones who said to the British, ” Come on over “

Shine

December 28th, 2012
9:49 pm

Get Real, lay off the kook koolaid and and nut party worship and come back to reality.

Yall lost the election. It was an arse whooping. Quit whining.

Voter

December 28th, 2012
9:50 pm

@Shine – King George was a relative. right? The NAZI party were real friendly? How about Stalin and Ho Chi Minh? Saddam Hussein? All just misunderstood men of history in your book.

Shine

December 28th, 2012
9:52 pm

Voter, my family has served in every war here since the American Revolution to the latest police action. Only a kook says 700 billion is essential when China is only around 100 billion or so and our allies make up much of the top ten.

Saing 700 billion is essential is about a 9.8 on the kookatron.

Voter

December 28th, 2012
9:54 pm

@Shine – sure they did. Dragged in or drafted? Of course, China’s is only 100 billion, do you see what they pay their men and women? Dollars a week compared to our men and women.

catlady

December 28th, 2012
9:55 pm

Voter: I was trying to premptively mimic those on here who loudly call for cuts, but self-righteously exempt their own “earned” benefits.