U.S. Nears Edge of Fiscal Cliff
Republican and Democratic negotiators are busy working attempting to fix a deal for the U.S. budget as the end of December approaches and the country inches closer and closer to the fiscal cliff deadline.
Just two days are left before the previously approved package of budget spending cuts and new tax hikes take place that neither party wants. Both sides are trying to negotiate a deal on Sunday, while President Obama will appear on television urging congressional leaders to find a solution.
Senator Harry Reid the Major Leader and Mitch McConnell the leader of the Senate Republicans will hold briefings with their respective party members privately Sunday to discuss the most recent status of the negotiations. John Boehner, the Speaker of the House said he would call the entire House into session on Sunday for whatever possible action might be needed to avert the upcoming fiscal cliff.
On Saturday discreet negotiations took place capping weeks of off and on again talks mixed with political posturing that has taken place between the two parties since the November 6 elections when President Obama was re-elected to a second term.
Leaders of Congress were summoned on Friday by Obama, who left Reid and McConnell in charge of finding a solution. The President expressed cautious optimism that Congress would come up with a deal prior to the deadline of January 1.
It looks as though Congress will take its negotiating up to the last hour before finally agreeing to a solution to avert the fiscal cliff fiasco.