The White House ordered the military on Wednesday to start planning for the possibility of cutting $500 billion from its budget over the coming decade as part of the fiscal cliff.
The military had previously been ordered not to get ready for the sequestration cuts that are scheduled to hit January 2 without action from Congress, but stalled talks in Washington have made the possibility of the massive budget slashes more likely. - Read more at CNN
BOEHNER: YOUR MOVE, MR. PRESIDENT House Speaker John Boehner pressed the White House on Wednesday to send Congress a revised budget proposal that will be able to "pass both chambers of Congress.”
Boehner’s insistence on another offer from the president comes after the White House rejected the GOP’s counter proposal on Monday. The House speaker said he will be waiting on the White House to make the next move. - Read more at The Wall Street Journal
CANTOR: WE’RE NOT GOING ANYWHERE Members of Congress can look forward to spending the holiday season in Washington, since the House will not be adjourning until Congress has resolved the fiscal cliff, Majority Leader Eric Cantor announced on Wednesday.
The House was originally scheduled to adjourn on December 14, however, the possibility of sending the economy spiraling into a recession has lawmakers obligated to stay and attempt to fix things. - Read more at The New York Times
BILL CLINTON: RELAX Bill Clinton said he is confident that lawmakers in Washington won’t send the country spiraling over the fiscal cliff. The former president told a crowd in Sacramento on Tuesday that the Republicans and Democrats are just “like two dogs that meet each other over a piece of meat. They're sniffing each other out. They are moving toward a deal. That's what's going on." - Read more at The Sacramento Bee
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