After news broke about the new set of proposed fiscal cliff resolutions, representatives from both parties quickly took to Twitter and the airwaves to dispel any ideas of compromise ahead of a final plan.
To help illustrate this point, we’ll look at each type of outstanding debt in succession and describe how it relates to the debt numbers that are often discussed and paraded around by Congressional politicians and media pundits.
During this time, the market has, for the most part, been forgiving. Yet politicians from both parties seem to be aware that these favorable conditions could change quickly, according to The Associated Press.
Declaring that everything is “on the table,” a group of Republicans from the party’s moderate and conservative wings are urging their colleagues to put their ideologies aside in order to find a solution to the “fiscal cliff.”
Speaking with CNBC’s Steve Liesman, the treasury secretary reiterated President Barack Obama’s demands for higher taxes as part of any final fiscal cliff deal.
Now, according to media reports, President Barack Obama is reaching out for solutions in a bid to keep the negotiations from falling apart.
In the wake of U.S. Treasury Secretary Timothy Geithner’s offer to Congressional Republicans to avoid the upcoming fiscal cliff, GOP leaders have been formulating an official response in the form of a new deal.
This Sunday, the secretary made the rounds of the Sunday talk shows, including CNN’s State of the Nation, where he reiterated that Republicans would have to cut a deal that featured some tax hikes.
Comments from the William Dudley, the Federal Reserve Bank of New York’s current president, imply that the central bankers might press ahead regardless of the warnings.
In a sign that there could be a few more hurdles to jump in the resolution negotiations for the upcoming fiscal cliff, Senate Majority Leader Harry Reid (D-NV) told reporters during a recent press conference that he has low hopes for a positive outcome in the talks.