There's been a lot of talk in the US media about the "Fiscal Cliff" and the "Grand Bargain" What are they?
The "fiscal cliff" is a confluence of three legal changes taking effect Jan. 1: the expiration of a payroll-tax cut, the expiration of the Bush-era tax cuts, and the advent of mandatory spending cuts known as "sequestration."Fiscal Cliff 101: 5 Basic Questions Answered. What's Happening: Fiscal Cliff Explained [more inside]
As the least-productive Congress in a generation draws to a close, Senate Majority Leader Harry Reid (D-NV) has spoken in support of a new proposal to reform the filibuster. The proposed changes would not eliminate the filibuster, but would restore the talking filibuster, which requires that the opposition explain their objections and keep talking in order to delay a vote on the bill under consideration. [more inside]