Monday, December 31, 2012
Clock Ticks as Fiscal Cliff Looms
Posted by Editor at 1:00 AM
With only one day left before the nation goes over the so-called "fiscal cliff," Congress has yet to reach a compromise in either house as negotiations between the two sides continue late into early Monday morning.
Majority leader Reid (D-NV) has the Senate set to reconvene at eleven Monday morning, which means Congress will have thirteen hours (this is assuming some deal is worked out over night) to debate and vote on whatever deal is crafted in both houses before sending it to the White House some point in the evening.
Since when has Congress been able to do anything in thirteen hours? Let alone something they have failed to accomplish in nearly eight or nine weeks since election day...
I hate sounding pessimistic, but I tend to be in agreement with Senator Lindsey Graham (R-SC) that Washington is unlikely to agree on anything before midnight New Year's and that we are in fact going over the fiscal cliff, higher taxes and another recession for all.
What say you?