The Drama Ends
Late last evening, New Years night, the House gave final approval to the Senate approved agreement to end the fiscal cliff drama.
The vote was 257-167, with most Democrats voting for it, and less than half of the Republicans. Republicans attempted to delay a vote and allow them to make changes to the Senate’s draft. Behind closed door meetings Cantor and those who disdained the measure plotted defeat. They failed.
What were the results of endless talks and posturing that frustrated the American people?
First, it is considered a victory for the President. Although I and many like me believe he sold out, he was able to get the job done despite severe opposition from the right.
What it means for the American people is no tax hikes for the vast majority, no change in Medicare benefits, and continuation of long term unemployment benefits. What has not been solved is 109 billion dollars in cuts for defense spending and domestic programs. These items have been delayed two months.
If you’re disappointed that the “show” is over, don’t be dismayed. The sequel, negotiations over the “debt ceiling” begin soon.