Tagged: Harry Reid

It is almost unimaginable that both the House and Senate would be in session on a Sunday evening on the penultimate day of the year. And yet, they both were, with lawmakers hoping it was not merely a big waste of time and effort.

A bipartisan push by Senate leaders over the weekend has so far failed to forge a deal to spare American wage earners from tax hikes and shield government programs from drastic cutbacks.

Even as Air Force One was about to land in suburban Maryland this morning — bringing President Obama back from his vacation in Hawaii to resume negotiations aimed at avoiding the so-called fiscal cliff of automatic tax increases and spending cuts — Senate Majority Leader Harry Reid was on the floor of the Senate warning that a dive off that cliff seems inevitable.

In 10 days, virtually all Americans will be hit with a tax increase and deep government spending cuts will follow shortly behind. That is, unless Congress and President Obama can find a way to avert the "fiscal cliff."

It's not looking very promising at the moment. On Thursday night, House Speaker John Boehner, R-Ohio, pulled the plug on a measure he was calling his "Plan B" and sent his members home for Christmas.