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January 02, 2013

Inside the Fiscal Cliff Saga

National Journal has a great tick tock of the fiscal cliff deliberations.

"This is the story of Plan O - the congressional Republicans' failed attempt to meet the challenge of Obama's victory. It begins in September and ends in the fiasco of the Christmas season, when the speaker was repudiated by his own troops and had to pull his last, desperate solution from the House floor, leaving Senate Republican Leader Mitch McConnell to cut the best deal he could with dramatically diminished leverage."

"In the end, despite all the planning and forethought, Boehner would stand almost helplessly by as the nation plunged off the fiscal cliff, and a bipartisan coalition of Democrats and centrist Republicans voted to give Obama the big tax hikes he demanded on the wealthy. House Republicans saw the worst of all worlds: they failed to save tax cuts for the wealthiest Americans, put no new checks on government spending, and showed themselves a fractious and disorganized opposition party, the governance of which in the new Congress will prove to be a serious test."


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