POSTED: Monday, December 31, 2012 - 4:55pm
UPDATED: Wednesday, January 2, 2013 - 7:46am
MCALLEN - With so much at stake and a deadline, which is creeping up. Still no deal struck and so no vote to take over big tax increases, spending cuts, and how best to reduce the deficit. The lack of progress has some lawmakers embarrassed.
Sen. Joe Manchin (D-West Virginia), said: "Something has gone terribly wrong, when the biggest threat to our American economy is our American congress."
The importance of a new deal is paramount, because an overall deal would likely include a provision to prevent a spike in milk prices, extend unemployment benefits, and protect doctors who treat Medicare patients from a 27% cut in fees. And here locally many are concerned, Edinburg resident Tiffany Ticer says, "I don't think a whole tax increase on everyone is what we should be doing, but I do think that there should be some tax increases."
So how will this impact all of us? Well unless an agreement is reached by the start of the New Years day more than $500-billion in tax increases will begin to take effect and $109-billion will be carved from defense and domestic programs. In turn this would more than likely affect most Americans.
Meanwhile, as republicans are trying to replace across the board reductions with targeted cuts elsewhere in the budget, democrats seem to be resisting.