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United States Politics

The U.S. Careens Over the Fiscal Cliff, Reaching Only Half of a Deal 639

Posted by Unknown Lamer
from the as-surely-as-the-earth-turns dept.
New submitter Jetra wrote with word that the House of Representatives failed to vote on the "fiscal cliff" deal before midnight, technically sending the U.S. over the fiscal cliff. The White House and Senate, however, reached an agreement at the last minute to allow for some tax increases, and a House vote approving it is expected in the next day or two: "The agreement came together after negotiators cleared two final hurdles involving the estate tax and automatic spending cuts set to hit the Pentagon and other federal agencies later this week. Republicans gave ground on the spending cuts, known as the sequester, by agreeing to a two-month delay paid for in part with fresh tax revenue, a condition they had resisted. White House officials yielded to GOP wishes on how to handle estate taxes, aides said." The battle over required spending cuts has predictably been delayed for another day, making the deal far from complete.
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The U.S. Careens Over the Fiscal Cliff, Reaching Only Half of a Deal

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  • First Time (Score:5, Informative)

    by Jetra (2622687) on Tuesday January 01, 2013 @01:02AM (#42438985)
    I need to learn to submit good submissions.
  • by Anonymous Coward

    "The American Republic will endure until the day Congress discovers that it can bribe the public with the publics money."

  • let the cuts begin (Score:2, Insightful)

    by Anonymous Coward

    we spend trillions on many useless things - I'd be willing to wager quite a lot that most of these spending cuts won't amount to much for the majority of the population...and, we need to scale our military to what is prescribed by our constitution - a defensive force - some drastic cuts are needed there (spread over a few years to avoid a major shock to the system)

    • by SternisheFan (2529412) on Tuesday January 01, 2013 @01:32AM (#42439141)
      Do you wonder, like I do, that the whole fiscal cliff thing is really just some bit of choreographed acting job? It had all the drama, tension and suspense of an action movie. And a last minute, down to the wire, happy ending. Gosh, makes a person feel like our representitives are really sweating for us, and their large salaries/perks. I feel so-o safe in their capable hands.
      • It absolutely is.

        I dunno exactly who thought it up, but spending was never a problem for 8 years of "Staying The Course In The War On Terror".

  • by bobstreo (1320787) on Tuesday January 01, 2013 @01:11AM (#42439019)

    All the fine Congress critters and Representatives who managed to screw up something so simple.

    In their next election.

    Hint:
    Vote them out.

    • Re: (Score:3, Funny)

      by Jetra (2622687)
      Tried that. Didn't seem to work. I'm going to vote Ron Paul until he's dead. Then, I'm going to clone him and attempt to get him in office until it is achieved.
    • by anagama (611277) <obamaisaneocon@nothingchanged.org> on Tuesday January 01, 2013 @01:22AM (#42439079) Homepage

      Won't happen due to the district gerymandering.

      Over the last 20 years, the number of House districts that swing between political parties has shrunk by two-thirds from 103 in 1992 to roughly 35 today, Silver found. At the same time, the number of districts where parties win by landslides has nearly doubled from 123 to 242.

      Today, 55 percent of House members come from districts where their biggest threat is losing a primary election, not the general election. Of the landslide districts, 124 are held by Republicans and 117 Democrats (one is an independent). They have little incentive to compromise. Instead, their incentive is to play to their party base. Making independent boards responsible for redistricting, as some states have done, would be far better.

      http://www.nationaljournal.com/politics/america-s-greatest-economic-weakness-in-2012-was-its-government-20121231 [nationaljournal.com]

    • by Jeremi (14640)

      Hint: Vote them out.

      That only helps if you simultaneously vote in somebody else who will do better. Based on the results of the 2010 election, it's clear that simply replacing Bozo A with Bozo B doesn't improve things. It may make them worse, since now Bozo B will spend his freshman year making all the same freshman mistakes that Bozo A had (perhaps) finally learned to avoid.

  • by banbeans (122547) on Tuesday January 01, 2013 @01:13AM (#42439033)

    Who cares...
    It is all bread and circus anyway.

  • Fiscal cliff (Score:5, Insightful)

    by girlintraining (1395911) on Tuesday January 01, 2013 @01:18AM (#42439057)

    Yes, the fiscal cliff -- the totally preventable budget crisis that we created for ourselves because we couldn't figure out how to work together. And, apparently, still can't. So now our fragile economic recovery is going to be thrown under a bus... because we can't play nice with each other. That's a great way to signal the start of a new year. What next, placing bombs under things with two keys, one given to a republican, the other to a democrat, and then a timer set and they have to figure out how to work together or it explodes? :(

    It's stuff like this that make me wonder what the hell is wrong with my country.

    • Re:Fiscal cliff (Score:5, Insightful)

      by Anonymous Coward on Tuesday January 01, 2013 @01:20AM (#42439073)

      It's stuff like this that make me wonder what the hell is wrong with my country.

      It's simple. The electorate views compromise as a weakness, and elects people with similar views.

  • by stox (131684) on Tuesday January 01, 2013 @01:18AM (#42439059) Homepage

    If there are, they are surely on the endangered species list.

  • by BenSchuarmer (922752) on Tuesday January 01, 2013 @02:10AM (#42439317)

    Democrats wanted to raise taxes on the rich, but most of the Republicans vowed to not raise taxes.

    Now that we've gone over the fiscal cliff taxes have been raised without anybody having to vote for it. The can cut taxes for the non-rich so the Democrats get what they want and Republicans can say with a straight face that they didn't raise taxes.

  • by butlerm (3112) on Tuesday January 01, 2013 @02:23AM (#42439385)

    The summary is ridiculously misleading. The Senate didn't vote before midnight either. They have yet to hold a vote, although supposedly one is scheduled for about 4:00 a.m. EST. Sometime tomorrow morning the House will reconvene to consider whatever the Senate passes.

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