Fiscal Cliff Talks Likely to Go Down to the Wire

“Government officials may well spend New Year’s Eve crunching budget numbers rather than clinking champagne glasses,” USA Today reports.

“There’s no real incentive for the parties to reach an agreement now. Markets may want an early settlement, but, as mentioned, but the fiscal doesn’t start until Jan. 1 — more than four weeks way, a near-eternity in politics. Even after Jan. 1, elements of the fiscal cliff phase in gradually, and a new Congress could always pass legislation retroactive to the start of the year…Expect pushes for last-minute concessions.”

However, Wonk Wire notes the talks aren’t going well.