House Republicans Feel the Heat on the Payroll Tax Stalemate

Congress is winding down in much the same way it conducted itself all year: with gridlock. Have Republicans outsmarted themselves on taxes, unemployment and Medicare? Can they pull their feet from the fire before the end of the year?

Even the Wall Street Journal has editorialized that Republicans might re-elect Barack Obama “before the… campaign even begins in earnest.” Republicans are snarling at each other, and the President is posing with “ordinary Americans” who face a tax increase on January 1st. It’s all about failing to extend the payroll tax “holiday” and unemployment benefits as well rescinding cuts in Medicare compensation to doctors. We’ll look at the consequences of the latest political stalemate and the likelihood of a GOP rescue effort before the end of the year.