Country to head over fiscal cliff as lawmakers continue negotiating

Monday, Dec. 31, 2012 | 1:39 p.m.

House Republican leaders announced Monday afternoon that they would not wait around through New Year’s Eve to hold a vote on a budding deal to avert the "fiscal cliff," guaranteeing the country will go over it. But it may not be that hard a fall – at least not right away. At midnight, tax rates are scheduled to rise at all income levels back to 1990s levels, and across-the-board cuts to government spending are scheduled to take effect. Together, they are expected to deliver a $600 billion gut punch to the economy. Congress set itself the Jan. 1 deadline to ...

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Discussion: 2 comments so far…

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By RobRBarron

Dec. 31, 2012

2:11 p.m.

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We elect the same old people time and time again and then we expect different results, what the heck is wrong with us?
By smartone618

Dec. 31, 2012

2:19 p.m.

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I love how today several Republicans (McCain, Corker, et al) are upset with Obama's comments today... they're afraid it'll "inflame" things. These guys have wanted Obama to kiss their a#@ for the last 4 years... sorry fellas...you've treated and talked to him and about him like crap. I'm glad he's "over" waiting for you folks to get your act together. Keep on Obama hatin', the rest of us need to move on.
By Jeanine62

Dec. 31, 2012

2:36 p.m.

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Does anyone actually expect obma and his cohorts to negotiate in good faith about balancing the budget or stopping their out of control spending? If they did... much like trying to get jobs for the out of work... they would lose a majority of their voting block. As a taxpayer... I am overtaxed and DC needs to start cutting back and NOT wanting more from hard working taxpayers. We have had to cutback... they should HAVE to do it.
By SgtRock

Dec. 31, 2012

3:18 p.m.

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I say jump off all 3 cliffs and all things....

Raise taxes on everyone
Let sequester go through as-is
Don't extend unemployment

And when Obama needs to borrow more money say no..no until he presents a plan to reform entitlement spending.
By Test_Guy (Dan Connell)

Dec. 31, 2012

3:41 p.m.

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The US went over the Fiscal Cliff and yet, life goes on. As far as I can tell, the stars, sun, and moon all remain in place. Folks, just remember that anything Congress does, Congress can undo: their motto is "What, me worry?"
By jeffdeancase (Jeff Case)

Dec. 31, 2012

4:22 p.m.

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Attention members of the United States House of Representatives: Each and every one of you are up for election in 23 months.
Please know there are many patriotic citizens who are tired of the gridlock and BS.
We want our elected representatives to put aside petty politics and work together for the good of our country.
Be warned -- we are watching closely, and we vote!