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Subscribe to RSSKey staffers huddle behind closed doors against the backdrop of a snowy capital as they attempt to hammer a last-minute deal to avoid going over the so-called fiscal cliff. NBC's Kristen Welker reports.
Updated 6:30 p.m. ET -- President Barack Obama tasked the United States Senate with trying to resolve the “fiscal cliff” in the waning hours before the New Year following a meeting between congressional leaders and the president.
Senate Majority Leader Harry Reid, D-Nev., and Minority Leader Mitch McConnell, R-Ky., will lead the last-minute effort to avert the automatic tax hikes and spending cuts set to take effect on Jan. 1 unless Congress acts.
And Obama said he is “optimistic” they can reach an accord before midnight on New Year’s Eve, the point at which the government would hit the fiscal cliff.
Absent that, the president said he had asked Reid to instead advance a bare-boned proposal that would extend the 2001 Bush tax cuts for income under $250,000.
Related -- Cliff Notes: Five things to watch at today's White House meeting
“I still want to get this done,” Obama said after his discussions with congressional leaders. He said “the hour for immediate action is here. It is now."
The president will appear exclusively on Sunday on NBC's "Meet the Press," where he's expected to further outline steps toward reaching a final deal.
The White House talks -- at which Obama presented no new offer to Republicans in Congress -- yielded “no concrete proposal,” Reid told reporters at the Capitol following the meeting.
President Barack Obama meets with NBC's David Gregory on Meet the Press Sunday morning. Gregory explains that for the president, this has become a matter of principle.
But in the waning hours before the end-of-year deadline, senators are now scrambling to produce a bipartisan package, at the request of Speaker John Boehner, R-Ohio, that can muster enough support in the House.
Reid, McConnell, Boehner, and House Minority Leader Nancy Pelosi, D-Calif., spent the meeting “discussing potential options and components for a plan that could pass both chambers of Congress,” according to a Boehner aide.
But the most significant development appeared to be the emerging consensus that any final agreement would have to emerge from the Senate. That deal would necessarily require a “bipartisan approach,” according to the office of McConnell, the Republican leader in the upper chamber.
Among the major sticking points, senior Democratic aides told NBC’s Kelly O’Donnell, involve the income threshold at which tax rates would be allowed to rise and the level at which estates are taxed.
Boehner’s failed effort last week to push through a fallback plan with only Republican votes laid bare the internal GOP divisions after conservatives balked at supporting a plan from the speaker to allow tax rates to rise on income over $1 million.
The unsuccessful effort suggested that Boehner would need to lean upon Pelosi for Democratic votes if a deal -- which has eluded Obama and Congress for the better part of the last two years -- is to pass.
A Senate-led agreement, though, faces no surefire guarantee of passage in the House.
“The speaker told the president that if the Senate amends the House-passed legislation and sends back a plan, the House will consider it -- either by accepting or amending,” Boehner’s aide emailed reporters.
One of the biggest sticking points in the fiscal cliff negotiations has been which income level ought to be required to pay additional taxes. On Friday, Democratic and Republican leaders met for an hour at the White House. NBC's Peter Alexander reports.
The protracted stalemate between Obama-led Democrats and congressional Republicans had prompted Friday's last-ditch meeting at the White House. It lasted just over an hour, and included Vice President Joe Biden and Treasury Secretary Tim Geithner.
Sources familiar with the meeting said that Obama made no new offer to Republicans, urging them to hold an up-or-down vote on a Democratic proposal to preserve existing tax rates for income under $250,000 and extend unemployment benefits (among other unresolved issues).
It’s that very proposal which Obama said he would ask Reid to advance should he and McConnell fail to strike a deal.
“I believe such a proposal could pass both houses with bipartisan majorities, as long as those leaders actually allow it to come to a vote,” he said.
Republicans had previously rejected such a proposal, but could feel pressure to relent to administration pressure in order to forestall across-the-board tax hikes in just a few days. The source familiar with the meeting told NBC's Peter Alexander and Kristen Welker that Obama asked Republicans what they would be willing to support, if not that proposal.
Amid negotiations toward a final deal, the House was set to return to Washington on Sunday at Boehner’s request, and remain at work through Jan. 2 -- the final day before the 112th Congress concludes and the next batch of lawmakers are sworn into office.
In the meanwhile, Obama voiced frustration toward the repeated pattern in Congress these past few years of lurching from crisis to crisis before reaching a last-minute deal to stave off catastrophe.
“The American people are watching what we do here. Obviously, their patience is already thin. This is deja vu all over again,” Obama said. “America wonders why, for some reason, in this town you can’t get stuff done in an organized timetable ... The American people are not going to have any patience for a politically self-inflicted wound to our economy.”
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no wonder america is so screwed up !!!!!!!!!!!!!!!!
they think obama, pelosi, reid, boehner, biden and mcconnell are leaders... roflmaoooooooooooooooooooooo
not too bright america
Who else is supposed to get this done?
LOL, Americans have such a short term memory.
I'd like to see go over the cliff. Maybe that will get people (The everyday Joe with Business and/or Military experience), to run as independents in every district to win elections. House, Senate, and White house full of Common Sense independents would be great, instead of Republicans and Democrats.
the net worth of americans is apx 67 trillion dollars. net worth of Forbes 400 is 1.7 trillion. this makes the forbes 400, gates buffet and others wealthiest 2-3% of Americans. if you took every last cent these wealthy have, all 1.7 trillion, you would need to do that every year for next 10 years to pay down our national debt. of course they would be broke after first year but you get the idea , we are in serious trouble. just taxing the wealthy is not going to fix this. obama knows this, he may demonize the gop but he realises that we must go back to the clinton tax rates. sorry america the partys over, the days of people paying $1000 for xbox so their kids can play madden 2005 on xmas day are over.... and now its time pay the bill...all of us. the wealthy dont have enough money this time
Kristal,
You need to realize how that $67 trillion in wealth is distributed throughout our citizens.
The top 0.2% of Americans have a total net worth of around $50 Trillion (with a "T").
The other 99.98% (you, me, and every single person we know) hold around $17 Trillion.
You could tax the top 0.2% net holdings at 15% for two years, and pay down our entire National Debt, and they would STILL be stinking rich.
You say "Just taxing the wealthy won't balance things." Of course this is true, and Obama knows this clearly. That is why he has proposed $1.2 trillion in spending cuts, BALANCED with $1.2 trillion in revenue increases.
Athiest, I see you are also a socialist.
Except Obama has to deal with the real world. kristal was doing OK until she added in the other wealthiest 2-3%. The other 2-3% takes that 1.7 trillion way way way up. It is true that the 400 wealthiest have more wealth than 155 million Americans. You can check this on politifact.com.
It's amazing how many people want to protect the super rich even if they have to pay more taxes.
And Obama and the Democrats would still be spending it all as it comes in. We will never see that surplus that they claim Bill Clinton had. A surplus for a year with a National Debt close to $6 Trillion Dollars. Obama and the Democrats love Bill Clinton and they love the high tax rates too. I say let's go over the cliff and give it all to Obama and the Democrats and see what happens. When the Public starts crying I will say this is what you voted for. Obama had no other plans other than tax the rich.
These are some of the dumbest, insane, and intelligent comments I have read in a long time.
Ronald Reagan doubled the defense budget in just five years. He decided to ignore the legislative branch of government and meddle in two central american countries...killing civilians. He reckoned that an open, public debate about entering war would "aid the terrorists", and considered it taboo. He tried to "rescue" hundreds of U.S. students studying in Grenada from "communists", meanwhile the students were in zero danger. Later, he f-uped Nicaragua and hated the Congress and House for "demanding a debate" about it.
Ronald Reagan acted as a King, and sold his shine to the American People while convincing them that the monster was JUST beyond the horizon, but was surely there indeed.
The GOP have been led by fear ever since Reagan. The Boogie Man is out there kids, oh he sure is, and you better let me deal with them in my way (just trust me), and I will take care of you. Don't worry, I have your best interests in mind Children. Trust me.
Then came Bush I and Bush II, and two endless wars based on fear and the Boogie Man.
We are adrift in our military efforts, spending trillions on nothing but stuffing contractors pockets full of taxpayer dollars. It was not always this way...and thank goodness we have a President who thinks clearly and hasn't the ego to drive American based on his own (misguided) personal agenda. Some people see this is a "weak" leader, but I see this as a huge strength.
It takes patience and strength to keep your ego out of the dealings and keep the commonwealth of this Nation as first priority.
President Obama is trying desperately to get a deal done, but he is playing a game of Chicken with folks who are radical.
The thing is... Obama won, we held onto the Senate and Dems got more House votes than Rethugs did, but gerrymandering kept them as the majority of the House... for now. Why are the Republicans still acting like they still have all this power??? I say go off the cliff and take care of business when Congress comes back in session next year (in a few days). Obama should be DONE talking to these idiots! The majority of America really isn't listening to them anymore.
Thank you, Mr. President, for making a true effort to strike a deal. The extremists in the house obviously have a stronger allegience to small special interest groups than to America's well-being. Very sad commentary on how low we have sunk in terms of our ability to govern.
Pogo1---So just how long have you been out of the country. Where you old enough to live and pay taxes under Bill Clinton's presidency? Most on this site have only read about it.
Don't let yourself be fooled... the liberals want to take the USA down. For some reason that a logical person cannot imagine, they want the USA to become a socialist run gulag state with everyone EQUALLY in the bread line.
American Girl needs to go back to school, if she has graduated at all, This country is not a majority rule democracy. it is a f e d e r a l r e p u b l i c.
also, thank you TEA PARTY for standing firm to keep this president from FUNDAMENTALLY CHANGING the USA.
The Greatest Nation on Earth needs no changing.
wake up east side, The Tea Party is trying to save the country, but the liberals along with the moderate republicans wants to keep driving down the road to our demise.
what a bunch of BS vomit the liberals and moderates spew.
What if the Republicans eliminated welfare (well, except corporate welfare)?
What would you white people do to survive? You are the highest percentage of welfare recipients. Ask Bill O Reilly.
South Carolina, Mississippi and Alabama are 3 of the poorest States in America. All Republican.
Don’t look for Republicans give a d a m n. They are content on destroying the country’s economy because a n e g r o got reelected to the Presidency.
Ultimately, yes - that's the bottom line.
Larry - true to an extent. I wish we knew what percent are hard core racists. I'm guessing about 20% to 26%. But remember, the right wing hated Clinton too. Some people hate Obama because he is black and some hate him because he is a super intelligent democrat. Clinton is a Rhodes Scholar. Obama graduated from Harvard Magna Cum Laude. Susan Rice is a Rhodes Scholar. To some people, they only thing worse that a super smart white democrat is a super smart black democrat.
The reason those states receive so much is the high number of dark skinned Obama voters.
This is still a government elected by the people for the people right? If they cant do there jobs and come up with a solution time to clean house and put average citizens in those seats not people and families who have been there for years and are just sucking up space and time. At a more extreme level we might want a few people with large capacity magizines and assault weapons into that meeting of the worthless minds.
Maybe they are deciding where and when to hold the WAKE for AMERICA and who is going to bring the punch.
We the People need to turn off the heat and electricity in all federal buildings in Washington DC and make these a$$holes stay there until they get a deal put together, by candle light if necessary!
Basically, this is the GOP mentality and the majority of Americans see it so clearly now.
“If the 1% are going over the cliff, then we are taking the other 99% with us. Now, stand down, do as we say, and nobody will get hurt.”
Correction - Republicans don't take prisoners (but they DO take American Express). But yes, what I hear from folks out there tells me that they're not buying what the Republicans are selling anymore.
I am a Republican sometimes, Democrat sometimes, etc. Is this a poll you have conducted? Boehner is conducting himself, and McConnell exactly as I had hoped. There is a saying that if you bitcher's spent as much time working and ignoring the wealth of others you too could become a 2%'r. Nobody has a right in this Country to bully anyone and that is exactly what you Dems are doing. Make your own way and get off the backs of the successfull. And before you Dems jump on this thinking I am a 2%'r your quite mistaken, but what I have I earned and if this President did what his job expects him to do and that is to get American's back to work, there wouldn't be all this freaking bad air going on. What the heck, this Country has been Red and Blue for years, the only thing this President succeeded in is dividing Dumb and Smart, you figure out what categories you fall into.
Deal or NO DEAL this should never have gone this way and so far. To me the republicans have demonstrated their loyality to corporations, overseas interest, The VERY RICH, and a stubnernous not to support THIS President for any reason and at any cost. The FEW republican leaders and the rest of their sheep DO NOT want to make this country better and let us all go forward. Seems to me they are MORE THAN WILLING to bluff their hand and let the system fail. This is no way to run a country. So my position because of what I see and feel is I will not vote for any republican IN MY STATE regardless of what level of government they seek. I am quite discusted with the way they have become and I want them out of office. This has happened to often and enough is enough. Their claim that Presient Obama didn't get anything done in the first four years doesn't hold with me. I don't see what they got done in the same four years other than object, reject, and attempt to block and put down anything and everything Obama wanted to do. Some of these republicans are the good guys. But when they are so controlled by a few and will not break away and man up doing what they are elected to do shows me a GREAT DISTRUST for them. Come on did you vote for your representative to not support and represent you? Or do you vote simply so that you wind up with a representative that only supports THE PARTY? Is this the way America can more forward and be the most competative country in the world? Is this the way America and YOU can move forward and get along living for a better life for our future generations? I THINK NOT.
So if I could make a difference and show them I have the real power I would do this. I would pull every nickel I have out of all banks and investments including my IRA's even if I had to pay the penalty. I would quit my job. I would buy only what I needed to survive for the day and do that by credit card. I would NOT PAY my credit cards, mortage (if I had one) until the last day and only the miminum amount. I would beg borrow and steal what I can from the system and I would be just like THEM. But I am not like them so I won't.
They get this done, or a lot of elected officials are definitely serving thier last term (Obama already is, thankfully) the American voter better remember the next time they go into a polling booth, who is really looking out for the working man and woman. BooHoo Boehner, Harry Grumpy Reid, Mitch McConnell, Nancy Pelosi, all of you self serving, pumped up posturing swine...you are incapable of doing your jobs, your DONE!
If any of these people get re-elected, we only have ourselves to blame. They all suck!
Time for a new party. The two representing the people of this country have failed...
No deal until the government deadwood gets their pinkslips.
Just a reminder for you "taxpayers" out there, who by the way are now outnumbered by "non-taxpayers". Your take rate will go up 2% starting the first of the year. Its time to start paying for that wonderous thing called "Obamacare"! HAPPY NEW YEAR!
So I read the article and the first few comments. For starters - thank you, Feisty, for suffering the slings and arrows of folks who a) can't post comments on Fox so come here instead to spout their calculated misinformation, and b) some of said posters who can't even spell Feisty. I'm glad you're aware you aren't alone.
So Boehner says that the House has already made their pitch and want to hand first blame to the Senate for a change. It's a logical move but a transparent one, if you ask me - fortunately, the opinions of the real world don't even remotely resemble what gets posted here. If something isn't resolved, the blame will clearly fall to the Repubs, who have consistently and willfully ignored both the poor and American history. Only by acknowledging the numbers of folks who are still way below poverty standard will there be a sane solution; yet Republicans just can't seem to even mention the word "poor" - save to refer to any sort of attention as "entitlement" (and therefore EVIL). I agree completely that Obama should use this time to remind his fellow politicians that this year's madate was about giving this country a hand, a policy that has consistently worked in America's past.
Some posters here think such sanity and compassion are signs of the apocalypse - I just home Obama does what a clear majority of voters think is a) financially logical, b) MORAL, and c) good for politics AND business and MAKE THE CHANGES!
Anybody who would thank the likes of Feisty is immoral and so is she. What a sad world you believe in. Is MSNBC promoting this sight for Dems only? Ask their Marketing Dept if this is correct or ask Feisty because she would be out of a job.
Get rid of Boehner and the republicans in Congress and we'd be just fine. They are a bunch of idiots who only think about their party. They won't suffer because of this cliff. They make too much money and when they retire that have a huge pension and free medical care. So what do they care. Shoot them all.
BTW, that was a figure of speech (shoot them all) so don't call the cops on me!
You can not negotiate with bullys! Obama, Harry and Nancy have a record of being "my way or no way". It is time to tell them to take a hike.
Are you kidding me! Boehner is the idiot who can't budge. He has unrealistic views on America and the economy.
Mygrain,
You are joking right?
Obama is proposing $1.2 trillion in revenue increases, balanced with $1.2 trillion in spending cuts.
The GOP want basically zero revenue increases, and $1.8 trillion in spending cuts.
I believe you recently tried that, only to lose.
Fiesty at one time I had some respect for you. Whats with the pottymouth? Can we not express our thought's without the vulgar language? The problem here is insainity! So, lets use the english language,queens edition,and be civilized! Ah,will some one tell the butler to bring me another wiskeysour? Back to feisty,Ah, I see no reason why the job ceators,that would be us, should be penialized for making the economy what is,my income has gone up 350% in the last 12 years! We must being doing something right. Why are you bitching? Ok we owne the polititions,but haven't we given you lowerclass citizens some freebies? Like Social Security,Foodstamps,Wellfare,Medicare,and what about just the oppertunity to live in MY WORLD,afterall I am the job creator,I'm mister man. My Daddy told me so! Ok i'll tell you his name George Herbert Walker Bush,yea i know it's a wierd name but, I'm rich, so i don't care! And I'm the leader of the biggest,most powerfull country in the whole world,thats what my Daddy said!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
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Arrest John Boehner and Eric Cantor for treason. I will never vote for a Republican again, no matter what.
and Hillary and obama
tom, you never have voted for a republican so who would care.
Don't arrest them. Then we have to lodge, feed and clothes them at our own expense. Let's confiscate ALL their assests and spend some of it for tar and feathers. Let them loose on the streets to wander from place to place looking for sympathy.
we are tired of pulling the wagon ...soon the wagon wont be able to be pulled ...then what happens to the people in this wagon??? get out and walk on your own 2 feet ....
Like the GOP has the Fass Family been pulling in the wrong direction? This might explain why the wagon wont be able to be pulled.
@ Kristal,
This is in response to your post above, and I think it is important to know this.
Kristal,
How that $67 trillion in wealth is distributed throughout our citizens.
The top 0.2% of Americans have a total net worth of around $50 Trillion (with a "T").
The other 99.98% (you, me, and every single person we know) hold around $17 Trillion.
You could tax the top 0.2% net holdings at 15% for two years, and pay down our entire National Debt, and they would STILL be stinking rich.
You say "Just taxing the wealthy won't balance things." Of course this is true, and Obama knows this clearly. That is why he has proposed $1.2 trillion in spending cuts, BALANCED with $1.2 trillion in revenue increases.
Detail the 1.2 Trillion in spending cuts, go ahead.
Barry is such a fraud! What utter b*llsh*t! All these clowns need to find work at the circus.
When you lose an election to the worse president in our lifetime its time to fold and let another party take over.
Given we had another election between dumb and dumber the only thing it proves is if you toss enough money to special interest groups you win. This however does not mean you know how to do simple math that you can not spend your way out of debt.
We are broke and adding 1.x trillion to our debt every year and these idiots from both parties think they can save us from the cliff by extending the debt limit and "SAVE $1.2 trillion over 10 YEARS". Do you see any savings? This is no different than Bush putting 2 wars on the taxpayers credit card and Obama thinks he is better than Bush? What a bunch of elected losers.
F$%# the Dems this is what they wanted all along, they dont want to solve the problem they are the Problem, this is nothing more than Obama wanting to further his weakening of America into a 3rd world country, nothing more and nothing less, and you freebee wannabees re-elected this ass, you get what you deserve....
we tried to warn these ass holes but they voted obama in any way good luck with that
Did you warn anyone about Bonehner and Canter? How about Mitch and West. Did you tell anyone about them?
and we pay these CLOWNS
$174K plus