Fiscal Cliff Notes for Dec. 2, 2012
5 days to the fiscal cliff
FISCAL CLIFF: BACK TO WASHINGTON
Good morning all....President Barack Obama departs Honolulu at 10 p.m. Wednesday evening, cutting short his holiday vacation to return to Washington to deal with the looming fiscal cliff crisis. We're in a stall, though I think something will work out: even if it takes a few days past the Dec. 31 deadline.
First Lady Michelle Obama and Malia and Sasha remain in Hawaii until after the New Year.
So for what does Obama return here as Washington experiences its first snowfall of the season this morning--not counting a few flurries on Christmas.
House Speaker John Boehner (R-Ohio) faced a setback last week over this "Plan B" backup plan he floated--but could not call for a vote because he could not find 218 Republicans to vote it it. No Democrats would touch it.
That means the shift is towards this...something that was always a possibility--and that is Boehner "frees up" about 30 Republicans--more would be better--for a plan that passes with a majority of Democratic votes. But that would be over--probably--a compromise plan that starts in the Senate.
The Senate is due back on Thursday. House members were told they would get 48 hours notice to return--and no one has sent out that flare yet.
WATCHING WALL STREET
Watch pressure to mount for a deal if Wall Street starts reacting--negatively--to all the uncertainty surrounding the fiscal cliff.
STARBUCKS: COME TOGETHER ON FISCAL CLIFF
Well, try anything. Starbucks CEO Howard Schultz asked employees in the 120-Washington D.C. area stores to write "Come Together" on coffee cups on Thursday and Friday to urge GOP and Democratic House and Senate member and Obama to make a fiscal cliff deal.