Reid: Time is running out to avert "fiscal cliff"

Senate Majority Leader Harry Reid, D-Nev., blasted the House of Representatives and Speaker John Boehner today, saying the House (which is not in session) "should be here" to continue negotiations on the looming "fiscal cliff," which could be averted with "one vote" extending tax cuts for household income under $250,000. "I can't imagine their consciences," added Reid.

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Reid: "Fiscal cliff" can be averted with "one vote"

Returning to Washington just two days after Christmas, Senate Majority Leader Harry Reid placed the blame for inaction on the so-called "fiscal cliff" squarely on the shoulders of his counterpart in the House, Speaker John Boehner, R-Ohio, who remains in Ohio this morning.

"I can't imagine their consciousness," Reid said this morning on the Senate floor of House Republican leadership who has no plans to return to Washington before the New Year unless the Senate and President Obama come up with a plan to avoid tax hikes. Republican leaders have told their members they'd receive 48 hours notice if they need to return.

But Reid said the Senate acted weeks ago. "The way to avoid the 'fiscal cliff' has been right in the face of Republican leaders for days and days and days...," Reid said, referring to a bill the Senate previously passed that would extend current tax rates into next year for all wage earners making less than $250,000.

"I say to the speaker: 'Take the escape hatch we left you," Reid said. "It's not too late," he added.

Reid said Boehner "seems to care more about keeping his speakership" than avoiding the tax hikes and federal spending cuts set to go into place in just five days.

Reid lectured that Boehner has "just a few days left to change his mind," and he emphasized that he is not sure "time wise how" the Senate can pass a new, more comprehensive package, that addresses both the spending cuts and the tax hikes.

People are "waiting for the [New Year's] ball to drop, but its not going to be a good drop," Reid said.

But while Reid blamed Boehner for the stalemate, Boehner said it is up to Democrats, who control the Senate and the White House, to avert the "cliff."

The "fiscal cliff": What to expect if there's no deal
No "fiscal cliff" savior in sight

"[T]he Senate must now act," an aide to Boehner told CBS News. "The House has already done so to avert the entire fiscal cliff," the aide said, referring to a bill the House passed months ago that would replace the automatic across-the-board spending cuts to defense and social programs with targeted cuts.

But Boehner failed to pass a measure last week that would extend current tax rates on all incomes except on households making more than a million dollars per year. With Democrats refusing to back the measure because it doesn't raise enough revenue and too many Republicans revolting, refusing to raise taxes on anyone, Boehner was forced to pull the bill and the vote did not happen. That 11th hour move led to additional gridlock around the "fiscal cliff."

President Obama, meanwhile, has cut his traditional Hawaiian Christmas vacation short and is returning to Washington today. Before he left, he spoke on the phone with Reid and Boehner, as well as Senate Minority Leader Mitch McConnell, R-Ky., and House Minority Leader Nancy Pelosi, D-Calif.

While the phone call was about the "fiscal cliff," there was unlikely any significant update as Republican and Democratic leaders have not talked in recent days.

Adding to the urgency, Treasury Secretary Timothy Geithner said the debt limit will be reached earlier than expected. In a letter to Congressional leadership, Geithner said that as of December 31, the U.S. will reach its debt limit and that the Treasury will have to take "extraordinary measures" to avoid defaulting on its borrowed obligations.

[Jameswtf]

What happened to my comment? It just vanished.

[CBSknows]

"AMERI-CAN-DO"

WE CAN AND WE MUST DO..

Combine a few letters from the words REPUBLICAN DEMOCRAT and they Could Spell..AMERI-CAN-DO & ABSOLUTELY ABSOLUTELY ABSOLUTELY SHOULD..SPELL..AMERI-CAN-DO

NEITHER OF THESE WORDS (REPUBLICAN,DEMOCRAT) SPELLED SEPARATELY CAN SPELL.. "AMERI-CAN-DO" It Takes Both To Spell AMERI-CAN-DO and it will take BOTH PARTIES TO BUILD A BETTER FUTURE FOR ALL OF AMERICA'S CHILDREN & THEIR CHILDREN.

"UNITED WE STAND" and "TEAM WORK WORKS"
(these statements aren't just words they are facts)

Mr. Obama Is NOT just the Democrats President he is "THE PRESIDENT OF THE UNITED STATES" ALL STATES & ALL PARTIES PRESIDENT.. MR. OBAMA.. IS AMERICA'S LEADER YOUR LEADER/OUR LEADER, HE WAS ELECTED BY AMERICA TO LEAD OUR NATION. "SO LET HIM LEAD"

"THIS IS WHY "WE THE PEOPLE PUT HIM IN OFFICE".. WORK WITH HIM "WHATEVER IT TAKES" COMPROMISE WITH THE PRESIDENT & WORK WITH HIM..THIS IS YOUR JOB.

IT CERTAINLY ISN'T PRODUCTIVE FOR ANY PARTY TO HURT AMERICAN'S BY NOT WORKING WITH AMERICA'S LEADER THAT;
"WE THE PEOPLE" ELECTED TO BE OUR PRESIDENT.

"TIME TO TEAM UP FOR THE GOOD OF OUR COUNTRY"

[TimeToEvolve]

I think it is time for millions of us (or at least many more who can effectively change our system) to acknowledge that we have let business, money, consumption and waste (all of these are related) become an overwhelming force in our society.

In fact, the rich on Wall Street have figured out how to always prosper from the system at the expense of the rest of us. Not shopping local and from small business has led us to having bad food, accelerating global climate change and an entire economic system set up for the Top 1% royalty. Exactly what we fought the Revolutionary War against.

Yes, by shopping at Wal Mart and other big box stores we have literally signed out own death warrants.

[darkhorseky]

Yes the king is spoken, He was put on his throne by 1/4 of the american adult population , with deals for free citizenship and more free handouts/cell phones. So whoopy , the 1/4 of the population has spoken.

[darkhorseky]

Yes , but those whom voted was not even close to half of the population of the Us. So half of the people that voted him. So whats your problem. Also in the months up to the election , welfare requirements was eased with even cell phones supplied for free, and the promise of citizenship was inplied. So whats you beef? It is true. Also a mandate would imply a overwheming election of the whole population .

[darkhorseky]

Yes , but those whom voted was not even close to half of the population of the Us. So half of the people that voted him. So whats your problem. Also in the months up to the election , welfare requirements was eased with even cell phones supplied for free, and the promise of citizenship was inplied. So whats you beef? It is true. Also a mandate would imply a overwheming election of the whole population . Oh and the population of the US is 319 million or more. So 120 million voted for both. So he won by a little more the half of that. So true.

[TimeToEvolve]

The right wingers act like they won the election. We can no longer afford to leave the fate of America up to their judgement. They have proven they do not care about 100% of Americans and that is not tolerable.

[CBSknows]

"AMERI CAN DO SO COMPROMISE"

By using Letters From BOTH Of These Names; REPUBLICANS, DEMOCRATS

It Spells Out The Solution, But It Takes Letters From Both Names To Spell;

"AMERI CAN DO SO COMPROMISE"

PAST TIME TO COMPROMISE FOR THE GOOD OF AMERICA

[beachshoe]

Another worthless Congress just kicking the can down the road. We need to fire EVERY member of Congress and start over.

[skeezix06]

Let it run out. No deal is better than a bad deal.

[SumDumusr]

They set this up four years ago (screwing the rich) .. they were warned all year by the GAO .. now it's t oo late. The voters wanted this .. Obama wanted it .. now they have it. Over the cliff it goes.

[EvolvedLiberal]

Reid needs to stop sleeping with feinstein and start thinking about the best interests of America. By the way, Really ugly kids.