With 'fiscal cliff' looming, Congress facing compromise or confrontation
November 7th, 2012
07:42 PM ET
10 years ago

With 'fiscal cliff' looming, Congress facing compromise or confrontation

Washington (CNN) - A day after an election that both parties agreed was a mandate to find compromise and avoid the so-called fiscal cliff, Democratic and Republican congressional leaders also continued to sharply disagree over the key issue of whether top tax rates should be raised to help resolve the looming crisis.

Republicans said higher rates would damage the economy, while Democrats said it was the only equitable way to tackle the debt.


Filed under: Congress • Harry Reid • John Boehner
soundoff (16 Responses)
  1. ronb

    GOP learned a tough lesson: billionaires have lots of money, BUT only one vote!

    November 7, 2012 07:55 pm at 7:55 pm |
  2. Ray E. (Georgia)

    There was nothing done the last 2 years, what makes anyone think something will get done in the next month.

    Yesterday moved the country a step closer to a return of the 1930's. Obama Care has killed hiring. Many businesses will either lay people off or make them part time to get by Obama Care. So the people will have to provide their own health care. With less money to spend they will depend on the Government. So the National Debt continues to rise. Without repealing Obama Care things will start to look more like Greece.

    November 7, 2012 08:29 pm at 8:29 pm |
  3. Name

    Both parties should work on a bipartisan basis. We need to overcome this simple issue for our American people!

    November 7, 2012 08:32 pm at 8:32 pm |
  4. enuff

    They had better do something to work together – especially since their main objective of a one term president can no longer take priority over the country.

    November 7, 2012 09:14 pm at 9:14 pm |
  5. Ancient Texan

    The Democrats know full well that taxing "the rich" at 100% would only fund the government for about 8 months and do nothing to eliminate the deficit. They keep riding this horse to convince the "gimmee" base that taxing the hardworkers more will somehow level the playing field.

    November 7, 2012 09:26 pm at 9:26 pm |
  6. RudyG

    It's time for this president to do what seemed so much easier for previous presidents like Reagan and Clinton to do – LEAD! Compromise is not defeat. And ALL sides on this issue suffer from the same disease. But, the president must rise above squabbles and LEAD!!

    November 7, 2012 10:05 pm at 10:05 pm |
  7. Catmandew

    Good they all need to get to work and figure out how to avoid the cliff and do what we are payin them to do! Quit all the bickering and do your jobs already grow up and act rite!

    November 7, 2012 10:13 pm at 10:13 pm |
  8. GonzoinHouston

    Right now, and for the next two years at least, the Tea Party rules the GOP. This makes compromise impossible because the TP will die to protect the rights of the wealthiest few to pay half the tax rate of the rest. Obama should play a little political judo and use this issue to focus attention on the TP's. Just watch: the TP's will prevent anything and let the country go over the cliff if costs the Adelson/Koch class a dollar.

    November 7, 2012 10:55 pm at 10:55 pm |
  9. MaryM

    Congress better compromise or they will be out on their butts in two years. Do you understand tea people

    November 7, 2012 11:46 pm at 11:46 pm |
  10. Thinking Texan

    Act one: election 2008
    Act two: election 2012
    Act three: Tea Party Suicide march to the fiscal cliff (dress rehearsal last year)
    Act four: Heaven is Republistan.

    November 8, 2012 01:20 am at 1:20 am |
  11. Gregory M, Newbold

    President Obama can almost be branded by the tag line, "Balanced Approach" when it comes to deficit reduction or "asking the wealthy to pay a little more". With his re-election, the American people have ENDORSED this major tenet for policy – – regardless of how the GOP tries to spin it.

    November 8, 2012 02:39 am at 2:39 am |
  12. Gurgyl

    You better compromise and do public good. Not billionaers and wealthy. Poor are suffering. Greed is robbing. Focus, you win public hearts first. Let movers move. USA–you are a BEAUTIFUL NATION. God bless,

    November 8, 2012 04:50 am at 4:50 am |
  13. MarieMD

    Compromise yes, but no more blackmailng or extortion from the right.
    The first one who needs to go is cantor and he can take mcconnell with him.

    November 8, 2012 06:30 am at 6:30 am |
  14. Wake up People!

    Time to do some actual work Congress. Stop pouting, grow up and do the job, WE THE PEOPLE, hired you to do.

    November 8, 2012 07:02 am at 7:02 am |
  15. John, PA

    'fiscal cliff' looming, No Way! The House had better not compromise, make this confrontational, do not reach across the aisle, there should be no negotiations, let the tax cut expire, let the spending cuts take place, then Obama and the Democrats can deal with "their results" they produced for the next four years. Oh; and this will be the end of the Democratic Party.

    November 8, 2012 07:19 am at 7:19 am |
  16. jredd

    Its time for the repugs to understand that the wealthy can pay a little more. and obama and the dems are gonna have to cut back on some the goodies that they promise. Give a little take a little.

    November 8, 2012 07:53 am at 7:53 am |