Cliff Update

The GOP has dropped its demand that moving to chained CPI for calculation of Social Security benefits be part of the fiscal cliff deal.

They play to return to it as part of the debt ceiling negotiations instead.  Those are going to be fun!

Both parties in the Senate have apparently agreed to extend the Bush tax cuts for families making up to $400,000 or $500,000.

Right now they’re fighting over the Dem position that the spending cuts called for in the sequestration be delayed for two years.  The GOP is balking at this and doesn’t want to use increased tax revenue for more spending.

Negotiations continue, and the Senate is going to reconvene tomorrow.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s