Republicans float a new proposal in the fiscal cliff standoff, but will it be enough to move the negotiations forward?
When asked is no deal better than a bad deal, President Obama replied, "Thank you, everybody."
The President wouldn't answer any fiscal cliff questions from reporters on Monday, but he did have something new to consider. A letter from a group of Congressional Republicans outlining what they say is a compromise -- based in part on last year's talks between the President and House Speaker John Boehner.
The GOP plan has a whole laundry list of new revenue and budget cuts -- totaling, using White House math, more than $4 trillion in deficit reduction.
It gets there by not raising tax rates, but instead reducing deductions for the wealthy to generate more money for the government. And it also tackles entitlements, raising the Medicare eligibility age and reducing the future growth of Social Security benefits -- non-starters for the President and other Democrats who are facing enormous pressure from unions and other groups on the left to leave those programs untouched.
"We should fix it, but that should be separate track conversation, it should not be raiding social security to deal with the deficit," said Rep. Chris Van Hollen of Maryland.
Responding to questions on Twitter, the President said there simply isn't enough spending in the deal. Republicans, though, say he needs to accept that costly programs need to be restructured.
South Carolina Senator Lindsey Graham said, "What I want more than anything else is to get he country out of debt in a permanent way. The big problem with us becoming Greece is not revenue, is not the tax code, it's entitlements."
Monday, May 20 2013 10:42 PM EDT2013-05-21 02:42:18 GMT
Omar Morales feels lucky to be here for his son Joshua's 10th birthday on Monday. Morales was one of the passengers on board a USAir flight that made an emergency landing at Newark Liberty.
Omar Morales feels lucky to be here for his son Joshua's 10th birthday on Monday. Morales was one of the passengers on board a USAir flight that made an emergency landing at Newark Liberty.
Monday, May 20 2013 10:28 PM EDT2013-05-21 02:28:23 GMT
After Assemblyman Vito Lopez resigned over claims of serial sexual harassment of female staffers, attention turned to whether powerful Assembly Speaker Sheldon Silver should continue his leadership.
After Assemblyman Vito Lopez resigned over claims of serial sexual harassment of female staffers, attention turned to whether powerful Assembly Speaker Sheldon Silver should continue his leadership.
Monday, May 20 2013 7:05 PM EDT2013-05-20 23:05:15 GMT
A private country club opened its golf course to the public for a charity tournament to raise money for Superstorm Sandy relief. The Westlake Golf and Country Club in Jackson hosted the event on May 13,
A private country club opened its golf course to the public for a charity tournament to raise money for Superstorm Sandy relief. The Westlake Golf and Country Club in Jackson hosted the event on May 13,
Monday, May 20 2013 6:30 PM EDT2013-05-20 22:30:03 GMT
Repair work on tracks that were damaged in last week's train collision has progressed quickly enough that the MTA predicts restoring full service along the New Haven line by Wednesday morning.
Repair work on tracks that were damaged in last week's train collision has progressed quickly enough that the MTA predicts restoring full service along the New Haven line by Wednesday morning.
Monday, May 20 2013 6:05 PM EDT2013-05-20 22:05:22 GMT
A spate of hate-fueled attacks on gay men in New York, including a killing in the heart of one of its most gay-friendly neighborhoods, is stirring up anxiety, disbelief and outrage.
A spate of hate-fueled attacks on gay men in New York, including a killing in the heart of one of its most gay-friendly neighborhoods, is stirring up anxiety, disbelief and outrage.
Monday, May 20 2013 5:32 PM EDT2013-05-20 21:32:24 GMT
As a family prepared for the funeral of a Hofstra junior killed by a cop's bullet during a standoff with an armed intruder, questions remain about how police handled the situation.
As a family prepared for the funeral of a Hofstra junior killed by a cop's bullet during a standoff with an armed intruder, questions remain about how police handled the situation.
