It is now March 1 and no deal to avert the $85 Billion across the board spending cuts has yet been passed by Congress. There were two last gasp efforts on the part of the Senate to pass a bill last night, however both the Republican and Democratic sponsored measures went down in defeat. Jonathan Weisman explains how both bills were essentially doomed from the start, perhaps even designed to fail. [NYT]
As the sequester draws nearer, lawmakers are further away, not only from striking a deal but from The Capitol itself. Many members of the House of Representatives and the Senate have already left town for the weekend and many have resigned themselves to leaving the sequester cuts in place for months to come. House Republicans are reportedly looking toward the next deadline (March 27) and drafting legislation which would avoid a government shutdown. Such legislation would likely keep the sequester cuts in place through September of this year. [WP]
This morning, the Congressional leadership arrived at The White House to meet with President Obama and try to cut through the gridlock before the cuts officially begin later tonight. The meeting is currently in a standoff, with both sides admitting that little progress has been made. Senate Minority Leader Mitch McConnell (R-KY) has stated that if there is any deal to be reached, it will absolutely not include tax increases. [Politico]
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