Archive for December 31st, 2012

So what does falling off the fiscal slope mean?

So we have news this morning that, allegedly, Vice President Biden and the Turtle leader, Senate Minority Leader Mitch “I’m going to lose to Ashley Judd” McConnell have made some alleged and mysterious progress overnight in their last second talks to reach some kind of deal to avert falling off the fiscal cliff.

Sources close to the talks said a deal is now more likely will come together but cautioned that obstacles remain, including how Speaker John Boehner and House Republican leaders react to any tentative agreement.

“The Leader and the VP continued their discussion late into the evening and will continue to work toward a solution. More info as it becomes available,” a McConnell spokesman said.

I am cynical, and I am pretty convinced a deal is impossible, and thus this is nothing but further political kabuki theatre so that McConnell can later blame the breakdown on Biden and Obama, or Senate Dems. The reason why I say that is that because a raise in tax rates on the wealthy is the line in the sand and a dealbreaker for both sides. For the Dems, a deal must include it. And for the Rethugs, a deal cannot include it. There is no getting around that central fact. The Republicans have proved time and again that they will continue to fellate the rich and billionaires at the expense of the rest of us until the end of time.

So what is going to happen tomorrow?

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