At midnight, not only did the ball drop in Times Square, ushering in a New Year, but Congress dropped the ball on delivering the country meaningful deficit reduction.
Senate Majority Leader Harry Reid was so upset with President Obama’s proposed “fiscal cliff” deal to Senate Minority Leader Mitch McConnell that he burned it.
President Barack Obama is back in Hawaii for vacation after a tense, end-of-the-new-year standoff with Congress over the fiscal cliff.
The bill to avert a U.S fiscal cliff has won approval by the U.S. House of Representatives.
New Hampshire Sen. Kelly Ayotte says she plans to introduce legislation to block Congress and other high-ranking federal officials from getting a salary increase.
CBS News has confirmed that an agreement has been reached on the “fiscal cliff.”
Senate Minority Leader Mitch McConnell says he and the White House have agreed on preventing tax hikes that the “fiscal cliff” will trigger after midnight. And he says they are very close to an overall deal that would also prevent budget-wide spending cuts.
WASHINGTON (CBS DC/AP) — The nation appears in position to fall over the “fiscal cliff” at midnight as the House of Representatives do not have a vote in place on the deal currently being negotiated […]
While Congress has been engaging in political brinksmanship over the so-called “fiscal cliff,” Sen. Olympia Snowe has been busy cleaning out her office.
Details of the deal include raising taxes on couples making more than $450,000 and extending unemployment benefits for one year, according to AP.