http://www.nytimes.c...cal-solution.html
WASHINGTON  House Speaker John A. Boehner, in the wake of the embarrassing defeat of his backup plan to avert a fiscal crisis in two short weeks, on Friday called on the Senate and President Obama to find a way out, but added that ÂGod only knows how Washington is going to get control of its finances.
With the House headed home for the holidays and the Senate soon to depart, Mr. Boehner gave no hints of a path to avoid the so-called Âfiscal cliff, when more than a half trillion dollars in automatic spending cuts and tax increases kick in beginning next month. He said that on Monday, he had delivered his demands to the president for a broad deficit-reduction deal to avoid the crisis. The president delivered his Âbottom lines and told him Âhe couldnÂt go any further.Â
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The ball is in the Republicans' court, still. While the headline in a subsequent NY Times story says it's up to Obama now, it's clear from the text that it's not - http://www.nytimes.c...n-fails.html?_r=0
I don't expect anything to happen until they return after Christmas. At that point, I still expect us to go over the "cliff", but they may surprise me.
Cheers,
Scott.