down to the wire – minute by minute news on the “fiscal cliff”

Posted: January 1, 2013 in economic policy, Obama, politics, Republicans


In case you’re interested (as I am) in gawking at the car wreck that is congress, here’s a site that will keep you up-to-date on what’s happening today (1/1/2013) with the fiscal cliff situation.  Click HERE to find out what’s going on in (almost) real time.

Because the house could not get their shit together, the Senate went ahead and passed a last-minute plan at 2 a.m. early this morning with a very encouraging bi-partisan vote of 89 to 8.  NOW it’s up to the House.   Of course, there is significant Republican opposition, in part due to the fact that this bill would only extend the Bush tax cuts for people making under $400,00o/year.  Remember – Boehner’s “Plan B” (extending tax cuts for people making under 1 million a year) failed to win approval from his own party…they don’t want to see the rich have to pay more.  Additionally distasteful to conservatives, this current last-minute bill doesn’t sufficiently address spending cuts – those will be looked at early in the new year.   SO – will the House act?  Or will they reject this bill, forcing us over the fiscal cliff?

I have mixed feelings.  Should a miracle occur, and the House Republicans decide to do what’s best for the country, and the bill is passed…I will be a happy man.

On the other hand, if they stay true to form and decide to sabotage the American economy by rejecting this bill, good may come of it.   Very shortly the newly elected members of Congress will be sworn in, and Democrats will have more voices in both houses – and the next bill to be offered might be even stronger in terms of protecting the poor and the middle class while asking the wealthy to pay their fair share.

By the way – Congress DID get around to voting themselves a raise.
3:35 PM     UPDATE:   The House Republicans are considering adding an amendment to include spending cuts (which I’m in favor of).   The problem is that the Senate may not be willing to re-vote on this bill.   Suspense builds.    

  1. Bruce Baker-Rooks says:

    Why do Republican’s hate America and its citizens so much? Seriously, I’m not trying to be funny or sarcastic. As Kevin told me this morning, “this Republican controlled Congress is the worst Congress we have had since 1776!” These people would rather see America fail than to work with President Obama or any of the Democrats. Boehner could not get the Republican’s to support his Plan B, and then he turns around and blames the Democrats. If he can’t get his own party to support his/their plan, that’s Boehners incompetence. They may not like President Obama’s plan, but they have not come up with anything, at all, zip, nil, nada. You might be right, Mike, that if the House fails to vote tonight, when the new Congress is sworn in there will be a higher Democratic voice, but I think (and I don’t even know if this is possible), if the House fails to vote, we the people should demand special elections for the remainder of those in Congress who failed to act, and kick their useless butts to the curb. (Of course we must note, that they did in fact get around to voting to give themselves a raise!)

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