Toeing The Cliff

The House will adjourn tonight with no vote on the fiscal cliff crisis.  The President said this afternoon that an agreement is near.  Word is Democrats have compromised on tax cuts by agreeing not to raise taxes for anyone earning $450,000/year or less.  This cuts potential revenues by 40% making it harder to balance the budget.

No House votes means the country will go over the fiscal cliff at midnight.  Because January 1st is a federal holiday nothing will happen tomorrow either.

Keystone Progress had a bit of fun this morning holding its “Fiscal Cliff Bowl” on a field in the 16th Congressional District in Reading.  Mike Morrill did the announcing while Dan Sauder played the part of Jim Gerlach who rigged the game for the millionaires.

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