Time's Running Out before a Fiscal Crisis Kicks In
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In the midst of negotiations with President Obama, House Speaker John Boehner proposed what he calls "Plan B." But it's sure to be dead on arrival when it reaches the Senate. We hear how compromise on the "fiscal cliff" is dominated by philosophical differences, political mistrust — and personal antipathy. Also, the New York Stock Exchange is sold, and the Global Strategic Maple Syrup Reserve.
Banner image: Speaker John Boehner and Republican leaders hold a press conference as they work with the White House to find a balanced solution to the "fiscal cliff." December 18, 2012. Official Photo by Bryant Avondoglio
Making News
New York Stock Exchange Sold as US Economy Sees a Boost ()
New York is still the financial capital of the nation, but the industry is spreading around the country. Charlotte, North Carolina has become next in line. Now the New York Stock Exchange has been sold — to a company in Atlanta. Daniel Gross is global business editor and columnist at Newsweek/Daily Beast.
Guests:
- Daniel Gross: Daily Beast, @grossdm
Main Topic
Is Washington Full of 'Grownups'… or Not? ()
In the aftermath of last week's atrocity in Connecticut, some serious pundits said Washington politicians might respond by acting like "grownups." The implication was that House Republicans and the White House would compromise to avoid the consequences of the so-called "fiscal cliff." That hasn't happened yet. Congress is ready to vote on a plan with no chance of Senate concurrence in hopes of shifting the blame for gridlock to the Democrats. The President, strengthened by re-election, is unlikely to back down. We look at what's at stake for taxpayers, homeowners, the elderly and the poor.
Guests:
- David Hawkings: CQ Roll Call Daily Briefing, @davidhawkings
- Robert Costa: National Review, @robertcostaNRO
- Barney Keller: Club for Growth, @club4growth
- Norman Ornstein: American Enterprise Institute, @AEI
- Henry Aaron: Brookings Institution, @BrookingsInst
Links:
- Speaker Boehner on the fiscal cliff, Plan B
- White House on Boehner's Plan B
- Roll Call on Plan B, Fiscal Cliff
- Obama on fiscal cliff
- Costa on the Boehner ultimatum
- Ornstein's 'It's Even Worse than It Looks: How the American Constitutional System Collided with the New Politics of Extremism'
- Club for Growth on Plan B
Reporter's Notebook
The Great Maple Syrup Robbery ()
We often hear about America's Global Strategic Petroleum Reserve. Now it turns out that Canada has a Global Strategic Maple Syrup Reserve. While the popular image of the maple syrup producer is the quaint Vermont farmer tapping his trees, 90 percent of the world's maple service is produced in Canada, 75 percent by a cartel of producers in Quebec that set quotas to keep prices high. In case of a bad season, they maintain the Reserve. The 2012 season was very productive — until thieves began tapping the Reserve. Ian Austen is Canada correspondent for the New York Times.
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