According to the Huffington Post article, we are going to go over the cliff. Although this may be a technicality if the House decides to rapidly vote on any deal that the Senate reaches.
The House of Representatives will adjourn Dec. 31 without voting on a bill to delay the impending tax hikes and spending cuts that will begin going into effect tomorrow. Majority Whip Kevin McCarthy (R-Calif.) sent the following update to party members on Monday afternoon.Yes, because House Republicans couldn't be bothered to stay late at night at Congress and miss their precious New Years Eve parties. The Huffington Post article also notes this:
The Senate has not yet finalized a deal to resolve these issues, but it is widely expected that it will reach an agreement by the end of Monday. Because of that, the markets may not react too negatively to the House missing the deadline by a few days. It helps that stock exchanges are closed on New Year's Day.January 2nd is going to be wild and who knows if Boehner will remain Speaker on January 3rd. And yes, the 112nd will go down in history as perhaps the worst Congress ever, and Boehner should be remembered as one of the worst Speakers ever.
Still, the inability of Congress to resolve this issue on time caps off a session that was historically unproductive. The 113th Congress convenes on Jan. 3.