12-26-2012, 02:38 PM
Let's see what happens tomorrow...
No specific bill dealing with the cliff was on the schedule of either the U.S. Senate or House of Representatives, which are expected to return Thursday after the holiday break. In Congress, the corridors were almost empty and the doors to members' rooms were locked.
Investors are closely watching the talks, concerned that going over the cliff could throw the economy into recession. U.S. stocks slipped Wednesday after retailers reported disappointing holiday sales as shoppers tightened belts, possibly due to fiscal cliff worries.
Aides and members of Congress have said that a modest, last-minute measure to avoid the spending cuts and most of the tax hikes could pass the Democratic-controlled Senate if Republicans agree not use a procedural roadblock known as a filibuster — a commitment that Senate Republican leader Mitch McConnell has so far not made.
The legislative focus continues to shift from deficit reduction to averting the immediate shock of the Dec. 31 cliff dive.
Full story:
http://news.msn.com/politics/obama-congr...iff-effort
No specific bill dealing with the cliff was on the schedule of either the U.S. Senate or House of Representatives, which are expected to return Thursday after the holiday break. In Congress, the corridors were almost empty and the doors to members' rooms were locked.
Investors are closely watching the talks, concerned that going over the cliff could throw the economy into recession. U.S. stocks slipped Wednesday after retailers reported disappointing holiday sales as shoppers tightened belts, possibly due to fiscal cliff worries.
Aides and members of Congress have said that a modest, last-minute measure to avoid the spending cuts and most of the tax hikes could pass the Democratic-controlled Senate if Republicans agree not use a procedural roadblock known as a filibuster — a commitment that Senate Republican leader Mitch McConnell has so far not made.
The legislative focus continues to shift from deficit reduction to averting the immediate shock of the Dec. 31 cliff dive.
Full story:
http://news.msn.com/politics/obama-congr...iff-effort