Congress's Messy Fiscal Cliff Vote Sets Stage For Showdown Over Debt Ceiling

With Boehner unable to control House's Tea Party Republicans, Obama warns next debate will have 'catastrophic' consequencesThe White House and congressional Republicans were gearing up for even bigger economic showdowns after a messy compromise on the fiscal cliff crisis was finally agreed by the House of RepresentativesThe fiscal cliff deal, passed after days of disarray that highlighted the extent of the partisan divide in Washington, raised taxes on the wealthiest but postponed for two months a decision about $110bn in spending cuts to the federal budget. The fudge is almost certain to put the White House and Congress at loggerheads again next month or in early March.

 

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