No vote tonight: U.S. headed over 'fiscal cliff' at midnight

[Auburn85 434]

http://blog.al.com/w...eaded_over.html

Alex Walsh

Legislators at times appeared close to a "fiscal cliff" compromise on Monday. But around 4:00 p.m. EST on New Year's Eve, reports emerged that the U.S. House of Representatives would not vote on a deal before midnight, putting the nation over the cliff.

Shortly before that time, CBS News' Stephanie Condon wrote that President Barack Obama had "seemingly spiked the football before crossing the goal line." The assessment appeared to have been motivated by a few key parts of the president's 1:30 p.m. EST remarks.

"My preference would have been to solve all these problems in the context of a larger agreement, a bigger deal, a grand bargain, whatever you want to call it... But with this Congress that was obviously a little too much to hope for at this time," Obama said on Monday afternoon.

With no deal, a wide range of tax increases ($500 billion) and spending cuts ($109 billion) will begin to take effect on Jan. 1, 2013. How quickly Americans feel those changes depends on which part of the package you consider.

On the most significant issue -- the extension of cuts to marginal rates on federal income taxes initiated by President George W. Bush -- time remains. Most Americans won't pay their 2013 income tax bills until April 2014. (Of course, how employers will handle federal income tax withholding until a deal is done is another question.)

Then there are the spending cuts, the result of a policy package called "sequestration." Most government agencies impacted by those cuts -- ranging from the Department of Defense to Head Start -- still have not specified how they will handle those scheduled reductions. The most tangible response has come from the Pentagon, where officials say they are ready to send letters to all 800,000 civilian employees, asking them to prepare for furloughs.

The Americans that will be impacted by the lack of a deal most immediately are those without jobs. Today, roughly 2.1 million Americans, including 17,000 in Alabama, receive unemployment benefits paid for by the federal government; those benefits would cease without a compromise.

It's not clear whether legislators plan on resuming negotiations tomorrow.

[Weegle777 78]

What do they care, they just received raises. Dolts.

[augolf1716 21,646]

Just another reason to drink alot tonight.

[TexasTiger 13,557]

Wheeeeee!

[BamaGrad03 0]

500B in tax increases vs 109B in spending cuts...

Of course the democrats didn't want to play ball. Us going over the cliff is their dream. They get to raise 500B in taxes on Americans while blaming the Republicans for it. It's a win win for them.

[TexasTiger 13,557]

500B in tax increases vs 109B in spending cuts...

Of course the democrats didn't want to play ball. Us going over the cliff is their dream. They get to raise 500B in taxes on Americans while blaming the Republicans for it. It's a win win for them.

Can we get an eye roll icon on the mobile version?

[FHeal 4]

500B in tax increases vs 109B in spending cuts...

Of course the democrats didn't want to play ball. Us going over the cliff is their dream. They get to raise 500B in taxes on Americans while blaming the Republicans for it. It's a win win for them.

Can we get an eye roll icon on the mobile version?

( ask and it will be given... one enough? )

[TexasTiger 13,557]

500B in tax increases vs 109B in spending cuts...

Of course the democrats didn't want to play ball. Us going over the cliff is their dream. They get to raise 500B in taxes on Americans while blaming the Republicans for it. It's a win win for them.

Can we get an eye roll icon on the mobile version?

( ask and it will be given... one enough? )

Thanks!

[Bottomfeeder 244]

Obviously our government no longer works.

[TexasTiger 13,557]

Obviously our government no longer works.

Beyond dysfunctional.

[FHeal 4]

Same dysfunction on the left ... as there is on the right.... and nothing much to work with in the middle.

[Bottomfeeder 244]

The is no middle, left or right. They all work for themselves and their campaign donors. That is all.

[AURaptor 1,137]

Same dysfunction on the left ... as there is on the right.... and nothing much to work with in the middle.

Dems don't want to get out of this hole. Ultimately, they WANT us to become like Greece is today. Why ? Because those who are sending us there won't be around when the it hits the fan. They know this, they're in it for themselves, and no one else.

[TigerNBham 3]

While both parties have a part of the problem, it was the GOP Speaker who adjourned early, has been obstinate and obstructionist since

election night. It is OK, their Gerrymandered districts will still elect them, they will still have their perks and salaries, and , the big benefit

is they get to grab their crotches and say, " See what powerful people we are !!! " And the only downside is for the country. Not a problem is it ?

[FHeal 4]

Same dysfunction on the left ... as there is on the right.... and nothing much to work with in the middle.

Dems don't want to get out of this hole. Ultimately, they WANT us to become like Greece is today. Why ? Because those who are sending us there won't be around when the it hits the fan. They know this, they're in it for themselves, and no one else.

Yep, just another chipped cog in the wheel - Another twisted piece of the puzzle - And a big part of what's wrongright there. ↑

A whole thread worth of bs-artist's pointing fingers, and tossing blame to the other side. As if in one swift motion they might draw attention away from their own sticky brand of stinky poo. The problem is not DEM guys or GOP'ers - it's all of us for supporting these bastards who live on the outer fringe of decorum. For not calling, sending emails, or stopping in their local office and saying, "Hey Fast-talker, we elected you to get something done." And ultimately for all of us not picking better candidates come primary time. The real trick is to pick a winner, not who you might favor or like the most. Why did Hillary not get nominated ? It wasn't because the-left didn't like her policy! A majority simply knew she wasn't e-lectable, and so a more moderate sounding (at the time - 5 years ago) is now on his second term.

We got great through compromise....

Like a bunch of sinners and saints on one side have figured out. Not by being held to some two-bit contract, that any first year law student could break, and chanting we're all together. Do you really think all-of-these queerish, gun-grabbing, immigration-loving, heath care reforming, hemp wanting, de-militarization folks really like each other? ... NOT... Some might even hate each others guts, but they know through collaboration each will get 'more' of what they want... than ever by standing firm and all alone. Extremist of either party may talk a good game, but they offer little and hinder come governing time, for they are more suited to mere electability. Their job is to talk a good game.

*Edited - 4 spell''n

[BamaGrad03 0]

500B in tax increases vs 109B in spending cuts...

Of course the democrats didn't want to play ball. Us going over the cliff is their dream. They get to raise 500B in taxes on Americans while blaming the Republicans for it. It's a win win for them.

Can we get an eye roll icon on the mobile version?

So democrats aren't for higher taxes and higher spending? This is news...

[TexasTiger 13,557]

500B in tax increases vs 109B in spending cuts...

Of course the democrats didn't want to play ball. Us going over the cliff is their dream. They get to raise 500B in taxes on Americans while blaming the Republicans for it. It's a win win for them.

Can we get an eye roll icon on the mobile version?

So democrats aren't for higher taxes and higher spending? This is news...

Senate Dems and Obama "played ball." You were wrong. It is simple and obvious. For once, just admit it instead of changing the subject.

[TigerNBham 3]

Possibly a new trend.

What does that have to do with House acting in the best interest of the people and the country ?

If you can't handle the truth of the facts change the subject, GOP 101.

[Grumps 3,706]

Someone please correct me if I'm wrong, but is the "fiscal cliff" the same thing as "the best compromise congress could come up with when they were raising the debt ceiling"? If so, then is the same agreement that was being applauded now represent a major disaster?