Reid Says Deal Is Unlikely Before Fiscal Deadline

[ErikJ]

Source: New York Times

Senate Leader Says Deal Is Unlikely Before Fiscal Deadline
By JENNIFER STEINHAUER
WASHINGTON — Senator Harry Reid of Nevada, the majority leader, warned Thursday that there was scant time to put together a Congressional deal to avert the impending fiscal crisis and that no resolution was in sight.

“I have to be very honest,” Mr. Reid said as the Senate convened in an unusual session between Christmas and New Year’s Day. “I don’t know time-wise how it can happen now.”

Mr. Reid offered his pessimistic assessment shortly before President Obama, cutting his vacation short, arrived back in Washington on Air Force One. White House officials said that before leaving Hawaii, Mr. Obama had spoken separately by phone with each of the four Congressional leaders about the status of negotiations, but they gave no details of the discussion.

Mr. Obama is expected to invite all four lawmakers to meet on Friday. In a related development, House Republicans were told to return to Washington on Sunday. Republican senators were planning to convene at the Capitol — normally somnolent during Christmas week — to strategize.

On the Senate floor Thursday, Mr. Reid excoriated House Republicans for failing to consider a Senate-passed measure that would extend lower tax rates on household income up to $250,000. He urged House members to return to the Capitol to put together at least a modest deal to avoid the more than half-a-trillion dollars in automatic tax increases and spending cuts set to begin in January.

“The American people are waiting for the ball to drop,” Mr. Reid said, “but it’s not going to be a good drop.”

A spokesman for Senator Mitch McConnell, Republican of Kentucky and the minority leader, confirmed that he had spoken with the president, and said that Mr. McConnell was “happy to review what the president has in mind.” But the spokesman, Don Stewart, said Senate Democrats had not come ahead with a plan.

“When they do, members on both sides of the aisle will review the legislation and make decisions on how best to proceed,” Mr. Stewart said.

Read more: http://www.nytimes.com/2012/12/28/us/politics/senate-leader-fears-not-enough-time-for-fiscal-deal.html?_r=0

[customerserviceguy]

1. Oh, we're going over the cliff in a barrel, all right

And I don't see too many reasons as to why it's going to be any different with the Congress that gets seated in January, either.

[plethoro]

2. Not going to be....Maybe we should send them all an

email saying we are so mad....

[Coyotl]

3. The cliff is the best deal going. Take the cliff.

Then capital gains taxes go up. How would that ever be accomplished otherwise?

[R. Daneel Olivaw]

5. Just let the year end and pick up the business in the new year.

Obama can go on TV and say that the senate is working on legislation for he "Middle Class Tax Cut"...a simple enough bill to return the taxes of the middle class to where it was before the dreaded cliff.

He can tell America the Republicans have a chance to do right by the American people. If they decide not to do right then they can explain it to the middle class.

Leave it on the republicans shoulders, and wait for them to blink.

[Coyotl]

6. Precisely, watch the Rs vote against tax cuts for those under $250,000 to protect plutocrats

And the Rs will never win another election

[Cha]

4. Good Luck with the Koch Plutocrats tomorrow,

Mr President, VP Biden, Pelosi, and Reid!



http://theobamadiary.com/

[SHRED]

7. Maybe the President can offer...

Lower tax rates up to $500K or more cuts to Social Security or...?