"Fiscal cliff" deal reached between White House, lawmakers: source

reuters ^ | 12/31/12 | reuters

[Nachum]

(Reuters) - The White House and congressional lawmakers have reached a deal to avoid the "fiscal cliff" that would delay harsh spending cuts by two months, Obama administration officials said on Monday.

President Barack Obama called Democratic Senate Majority Leader Harry Reid and House of Representatives Minority Leader Nancy Pelosi, who both signed off on the deal, one source said.

The agreement includes a balance of spending cuts and revenue increases to pay for the delay in the automatic spending cuts that would go into effect without a deal by lawmakers.

[Nachum]

Kicking the can down the road

[CynicalBear]

So are they going to pass it so we can find out what’s in it?

[K-oneTexas]

Right!

Who will be the first out and say that they were the ‘Hero’ that saved the American Public?

[Secret Agent Man]

dems would love no fiscal budgets for 8+ years.

[CynicalBear]

So are they going to pass it so we can find out what’s in it?

[gorush]

Liberals don’t think you need a budget, Conservatives think you do.

[God luvs America]

“The agreement includes a balance of spending cuts and revenue increases to pay for the delay in the automatic spending cuts that would go into effect without a deal by lawmakers.”

---

so does this mean for every $1 of tax increase there will be $1 in spending cuts???

[Uncle Chip]

No Deal — we’ve kicked the can down this road before.

[research99]

Weren’t all bills going to be posted online for 72 hours preceding a vote?

[Nervous Tick]

>> President Barack Obama called Democratic Senate Majority Leader Harry Reid and House of Representatives Minority Leader Nancy Pelosi, who both signed off on the deal

Huh? Who cares if Pelosi signs off on it? She is the MINORITY leader.

Did Boner and the Republican castrati “sign off” on it? That’s the relevant question.

[Yo-Yo]

Glad to hear that ex-speaker Pelosi can call a vote in the house and pass this great compromise bill without any Republican help.

[TSgt]

[relee]

So they kicked the can down the road 2 months ... surprise, surprise, surprise!

[pfflier]

The article lead in says obummer, piglosi and reid have signed off on it. Notice someone is missing?

[Washi]

The agreement includes a balance of spending cuts and revenue increases...

I swear I feel more and more like Winston Smith listening to propaganda from the ministry of truth each passing day.

[exit82]

Revenue bills have to originate in the House.

Does anyone read the Constitution anymore?

[Texas Songwriter]

When Bohner became speaker he said all legislation would be put on the internet for 72 hours so everyone could see it. He also said they had to give a Constitutional rational for the legislation. I can see neither.

[muawiyah]

Be interesting to see if they can get the votes to do this ~ somehow I doubt the Dem rank and file are going to go along with anything that equates $1 cut to $1 new tax ~ and actually does it.

The Pubbies may not even have to vote on anything.

[fieldmarshaldj]

“Harsh spending cuts” ? You mean cutting 1% of spending over 10 years ? What a joke. We need to cut 1 trillion NOW and implement a Balanced Budget Amendment immediately.

[Democrat_media]

This is more LIES from the news media. The media really want this deal so badly they have been on this fiscal cliff bs for a month and now are writing fake articles. We see what the media wants so go against them:

call GOP Congressmen , tell them not to vote for this nor any deal , go over the news media’s stupid cliff(which is not a cliff):

Congress switchboard number: (202) 224-3121.

[muawiyah]

The Pubbies have sent over a number of revenue bills this last year ~ so the Senate has them sitting there ready to amend.

That's what the Constitution allows them to do.

[Cheerio]

Liberals don’t think you need a budget, Conservatives think you do.

If I were Weeper of the House I would say fine - No Budget No appropriations bills, AND certainly don't come begging to raise the debt ceiling. THE WEEPER AND THE CONSERVATIVES IN THE HOUSE ARE HOLDING ALL THE CARDS. STAND YOUR GROUND AND FOLLOW THE CONSITUTION.

YOU WILL BLAMED NO MATTER WHAT YOU DO - THE WHITE HUT CLOWN IS DESTROYING THE PUB PARTY, SO YOU CANNOT WIN. DO YOUR JOB THAT WE SENT YOU THERE FOR: TO STOP THE SPENDING TRAIN. THERE ARE TWO WAYS - 1) NO DEBT CEILING HIKE, ABD 2) NO CONTINUING RESOLUTION/APPROPRIATIONS BILL.

Without appropriations, White Hut clown cannot SPEND one single penny. I just don't see what is so "hard" about this fight.

[Lancey Howard]

We’re all Winston Smith.

[sickoflibs]

I been watching both the Blue(R) and Red (Dems) channels on this most of the day and they are saying that O did his gloating press conference today to help gain support of Senate Dems for this deal, and he called Pelosi to get her support. They were hoping for a big confrontation on this and O give up nothing to Rs so they get the blame (and they get all that tax $$$), is what they are saying anyway.

It sounds like they agreed on extending tax cuts for first $450K versus Os original demand of first $250K and plan B for first $1M.

Although Bohner House didn't do that well in 2011 on the Debt limit fight they got way more leverage on that upcoming Debt limit fight than using automatic tax increases as a weapon to hold them off.

Republicans walked right into Os trap by defining partial extension of tax cuts as tax increases. It guaranteed that they would be seen as losing and O as winning.

But starting tomorrow they are all tax cuts. That is why Rs couldn't win holding out on them.

The thing I find is discouraging is the delay of the automatic spending cuts passed as part of the 2011 debt limit increase bill, a typical R party scam.

[piasa]

Glad to hear that ex-speaker Pelosi can call a vote in the house and pass this great compromise bill without any Republican help.

To Obama, the Republicans are like nictitating membranes and appendixes- vestigial.

[Democrat_media]

Good catch. this is a fake article , pure bs lies from the news media. shows you what the media want.

there is no deal yet

[EternalVigilance]

New tag ...

[piasa]

Does anyone read the Constitution anymore?

Nope, the Democrats think the Constitution is vestigial, too.

[GeronL]

higher taxes, no spending cuts

GOP will say its the best they could do

The GOP is not on our side

[tennmountainman]

Yep. Bonehead and Cantor are silent.
They are checking with their K-Street Money Changer friends
to get their marching orders. We should hear from Bonehead
January 3, the day the leadership vote happens.

[piasa]

Reuters... the Saudi News Network.

[exit82]

Yes, just like Obamacare.

Will they even use the pretense of using a exisitng bill from the House as their starting point?

Since the bill will now be different than what the Senate was sent it has to go to conference, then back to the House and the Senate in the same form to be voted on.

That is not going to happen by midnight.

Nor should it ever.

I do not know why McConnell wants to make Biden, Reid and Obama look good. The time to do all this was weeks ago.

And they all knew it.

[Nervous Tick]

>> nictitating membranes and appendixes- vestigial

PLEASE!!! There’s little kids within earshot over there.

:-)

[Sacajaweau]

This is what the state of the Union will allo be about....How he saved us...

This SOB will tax us to death...

[Sacajaweau]

The Senate is not originating it....this is just a system of negotiating....nothing unusual.

[exit82]

Vestigial—very appropos for the description.

[entropy12]

What cuts? All I see is tax issues, what is actually cut in spending?

[exit82]

If the Senate is “negotiating”, then this is all kabuki theater.

McConnell should be backing up Boehner, not splitting the approach. There should have been a common strategy. McConnell getting Biden involved smacks of weakness.

McConnell, Frist, Lott,—geez, 16 years of failures in the Senate.

Oh, wait, they will stand firm on the debt ceiling, though.

Not.

[Happy Rain]

Nancy Pelosi is going to show it to her Dems and if she likes they better.

Boner said he gonna let the House Republicans vote the way they want—no arm twisting this time.

[Happy Rain]

Nancy Pelosi is going to show it to her Dems and if she likes it they better.

Boner said he gonna let the House Republicans vote the way they want—no arm twisting this time.

[Norm Lenhart]

See, thats what the delay was. They called in the sewer diver in Mexico City from “World’s Dirtiest Jobs” to go into the septic tank under the White House to get it, but he was detained by Zetas using American guns and couldn’t make it there in time....

[exit82]

See,Norm, I knew you would have the inside skinny.

Happy New Year to you.

[Norm Lenhart]

It’s not easy being me...but I try ;)

Same to you and yours. Good luck in 13...we’re gonna need it.

[plain talk]

My guess is Obama’s idea of “balance” is 100% tax cuts and 0% spending cuts

[haffast]

Not on my corner!

[Nuc 1.1]

We don't need no enhanced revenues.

[Vermont Lt]

The house should take at least 72 hours to read the damned thing.

[Graewoulf]

Any year to year cuts in Federal spending?

[goldstategop]

Yup. Most people won’t see their taxes go up, they get to keep their benefits and 2013 will be blissful.

The only people who’ll notice are rich Obama voters but its not like they’ll notice the extra zeros missing from their income in 2013.

And we’ll charge the rest to our national credit card.

[Cementjungle]

Be interesting to see if they can get the votes to do this ~ somehow I doubt the Dem rank and file are going to go along with anything that equates $1 cut to $1 new tax ~ and actually does it

There's not one cent in cuts... this is pure tax increases.