We still don’t know if there’s going to be a deal today. We still don’t know exactly what it will be if there is one. And for all this frantic bustling, we don’t know if the House will pass it. [I wrote this before the House GOP signaled they don’t want to vote today at all.] But for all that, we seem to be getting a relatively clear read on the outlines of a deal. And over the course of the day I’ve gotten a better understanding of why the White House thinks this represents a strong deal for them. Read More

On the Senate floor a few minutes ago Mitch McConnell made Democrats an offer. Now that he and the White House basically agree on the tax piece of the so-called fiscal cliff, Congress should pass legislation to prevent the Bush tax cuts from expiring at midnight, and grapple with the “sequester” in the coming days.

This is an offer Democrats will have a hard time turning down. But it’s also an indication that Republicans have basically no intention of giving Obama any more revenue once the current budget fight is resolved. And for the White House that means now’s the time to consider how ready they are to stare Republicans down in a fight over rising the debt limit. Read More

We take a look back at the 2012 year in muck. And my, what a year it was.