The Cycle
updated 12/20/2012 2:20:39 PM ET 2012-12-20T19:20:39

The Washington Post Dana Milbank joins today's show to helps the Cyclists figure out if a fiscal cliff deal will be reached.

Today, the rivalry between President Obama and Speaker John Boehner (R-OH) has taken over Washington. Yesterday, Speaker Boehner held a 48 second press conference where he announced he would hold a vote today in the House on his “Plan B” bill that would lock tax rates on households earning less than $1 million a year. President Obama announced he would veto such a bill if it did make its way to his desk. While it is unclear if Speaker Boehner has the votes to pass bill tonight, he is also adding “sweeteners” to replace the automatic defense spending cuts that are planned to take effect in January as well as an addition $200 billion over ten years. So will this help him get the votes?

As minority Leader Nancy Pelosi (D-CA) said yesterday “Plan B will not pass as a result of Democratic votes.” She called this bill “an act of desperation” and went on to say how “this action that the Speaker announced just slammed the door in the president’s face for that kind of compromise.”

We are now in stalement between President Obama and Speaker Boehner, despite President Obama sending over a new proposal on Monday where he clearly conceded some of his main principles. He doesn’t have any public events on his schedule today, leaving plenty of time for a last-minute meeting with Speaker Boehner. So, with 12 days until we go over the cliff, how much closer to the end will be get before a possible deal will be announced?

The Washington Post Dana Milbank joins today’s show to discuss where exactly we stand with the fiscal cliff and if he believes a deal will be reached before January 1.


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