The obligatory “fiscal cliff” post
The “fiscal cliff” discussion is hitting a peak at this point with both sides in Washington attempting to sell their “solution” to the public in hopes of gaining support. At this point, I’m pessimistic since we’re heading into December soon and Christmas cookies will cause clouded judgment.
Report from the Washington Post:
Private talks between President Obama and top congressional leaders in search of a deal to avoid the year-end “fiscal cliff” are accelerating, even as the White House announced a new public campaign Tuesday to ramp up pressure on Republicans to extend tax cuts for the middle class.
Obama will engage in a full-fledged effort this week to force Republicans to agree to freeze tax rates for most Americans while allowing rates to rise on the wealthy, officials said. Events include a White House meeting with more than a dozen small-business owners on Tuesday, another White House session Wednesday with wealthy supporters who would be affected by an increase in taxes, a meeting with big-business executives Wednesday and a trip to a toy-manufacturing company in Pennsylvania on Friday.
Obama telephoned House Speaker John A. Boehner (R-Ohio) and Senate Majority Leader Harry M. Reid (D-Nev.) over the weekend, a sign that high-level negotiations are advancing with only weeks to go before an automatic series of spending cuts and tax hikes starts to hit nearly every American.
Boehner, meanwhile, has set up a meeting between top Republicans and Erskine Bowles, a chief of staff in the Bill Clinton administration who also has close ties to Obama’s White House.
Ahead of the Wednesday meeting, GOP aides noted that Bowles offered a debt-reduction plan last fall in line with Republican principles. That plan called for $800 billion in fresh revenue through an overhaul of the tax code and significant spending cuts, including major changes to Medicare and other federal health programs.
Exit question: If both sides agree on a “deal”, who gets screwed?
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