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UPDATED: No deal reached, nation to plunge over “fiscal cliff” at midnight

This news story was published on December 31, 2012.
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WASHINGTON – Although President Obama said Monday that a deal was near, the House of Representatives will not vote on any legislation to avoid the so-called “fiscal cliff” that kicks in at midnight.

If no deal is reached, automatic tax increases and spending cuts are in store for America.

Many working Americans will see their paychecks shrink to the tune of up to $2,000 per year.

U.S. Senate Republican Leader Mitch McConnell reported earlier on Monday that “we’ve reached an agreement on the all the tax issues,” and President Obama had reported that a deal was “within sight.”

It has been reported that spending is still a “sticking point” and the House will not vote on any deal before midnight.

One spending cut Republicans have been pushing for is smaller Social Security checks.

House Speaker John Boehner said Monday evening on his Facebook page that “As the U.S. House waits on Senate Democrats to act on the fiscal cliff, I’ve advised members to stay close to the Capitol this evening in case of further votes. The House has passed legislation to stop ALL tax hikes on families and cut gov’t spending – the real driver of our debt. With hours to go until the January 1st deadline, the Democrats who control the Senate have yet to pass anything.”

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7 Responses to UPDATED: No deal reached, nation to plunge over “fiscal cliff” at midnight

  1. Avatar

    blog Reply Report comment

    January 1, 2013 at 10:41 am

    LVS your right. This battle will seem like nothing compared to the Debt limit coming up for vote in two months. And also when the one trillion dollar bill of expected tax hikes just to pay for Osama Obama care kicks in. A real sad day for all classes of us working people and our children and grandchildren.

  2. Avatar

    blog Reply Report comment

    January 1, 2013 at 6:18 am

    This abortion of Osama Obamas Law bill contains no spending or entitlement reform legislation so the tax gain from the class of people that create the jobs will be wasted on more give away to the real deadbeats. Osama Obama won by creating the feel of class warfare because the Democraps know the key to winning in this generation is to cater to the sponges who feed off the working middle class.

    • Avatar

      LVS Reply Report comment

      January 1, 2013 at 9:24 am

      @blog-you have not seen anything yet. Wait until the country’s credit rating is kicked down because of this and the prices go up. They did nothing but kick the can down the road for two months and we will have to go through it again.

  3. Avatar

    just the facts Reply Report comment

    January 1, 2013 at 4:29 am

    The cliff: Help, help I’m falling!!!!!

  4. Avatar

    4ever49 Reply Report comment

    December 31, 2012 at 10:58 pm

    Well at least the first 5 of the 20 tax increases in the Obamacare bill will kick in January 1.

    Thanks a lot!!

  5. Avatar

    Dave Reply Report comment

    December 31, 2012 at 10:41 pm

    I hope this means Obama and family cut down on vacations this term !

  6. Avatar

    Jackson Reply Report comment

    December 31, 2012 at 10:40 pm

    All those that we voted in to do their job ought to be fired. No way do they earn their pay. If the rest of us did our jobs the way they do, we’d be fired.