In the final hours of the latest budget crisis in Washington, several salient facts are increasingly clear.
First, the leaders of the two parties in the Senate might still put together a negotiated deal that would avert the combination of tax increases and spending cuts known as the fiscal cliff. The leaders would start with President Obama's top priorities, modify them to accommodate Republican preferences, throw in some measures that are GOP priorities and take the package to the floor.
Originally published on Sun December 30, 2012 5:36 pm
Senate Majority Leader Harry Reid, D-Nev., walks to a closed-door meeting with fellow Democrats at the Capitol on Sunday.
Credit J. Scott Applewhite / AP
Senate negotiators failed to reach a deal Sunday on averting the "fiscal cliff," with the chamber adjourning for the night and only one day remaining before a package of spending cuts and tax increases automatically kicks in.
Majority Leader Harry Reid said the Senate will go back in session at 11 a.m. ET Monday. It's at least theoretically possible that negotiators might reach a deal and the Senate will have a package to vote on when it reconvenes Monday, meaning the measure could go to the House — where it may or may not come to the floor for a vote.
Weekend Edition Sunday guest host Linda Wertheimer speaks with Joshua Green, senior national correspondent for Bloomberg Businessweek, about the latest in the last-minute push to resolve the debt crisis.