Closer to the Cliff: President Obama rejected the Republicans’ latest “fiscal cliff” counteroffer Tuesday, calling it “out of balance.” The GOP plan called for $800 billion in new tax revenues, but did not call for a tax rate increase on the wealthiest Americans. Said Obama: “We’re going to have to see the rates on the top 2 percent go up. And we’re not going to be able to get a deal without it.” (Read more)
Banks Beware: Good news for Main Street—Massachusetts Sen.-elect and vocal Wall Street critic Elizabeth Warren will likely have a seat on the Senate Banking Committee when she joins Congress at the beginning of the year. Lobbyists connected to the Big Banks had reportedly been trying to keep Warren, an ardent advocate for consumer rights, off the powerful committee. (Read more)
Woman in Charge: Debbie Wasserman Schultz, D-Fla., has been asked by President Obama to remain in charge of the Democratic National Committee. The president made the announcement Monday via Twitter. “I’ve asked Debbie Wasserman Schultz to continue her excellent work as chair of the DNC. Thanks for all you do, Debbie. –bo,” he tweeted. Democrats will formally elect their party leaders Jan. 22, the day after Obama’s inauguration. (Read more)
Armey Quits: Former House Majority Leader Dick Armey has resigned from FreedomWorks, the conservative group affiliated with the tea party movement. The Republican quit over an internal split regarding the group’s future direction. Armey may be without a job, but who needs one when you’re getting paid $8 million in consulting fees as a parting gift? (Read more)
Blame ACORN: Here’s an interesting tidbit from Public Policy Polling’s first public survey since the November election: 49 percent of Republican voters believe ACORN stole the election for President Obama. That’s down 3 percentage points from 2008, but still—do these national GOP voters not realize that ACORN doesn’t even exist anymore? (Read more)
Judd to Run?: Senate Majority Leader Mitch McConnell, R-Ky., may face stiff competition for his seat when it’s up again from—of all people—a Hollywood actress. That’s because, according to Politico, Ashley Judd is seriously considering a run against McConnell in 2014. The Democrat from Kentucky has reportedly approached Sen. Kristen Gillibrand, D-N.Y., about a potential Senate bid. Judd is also exploring whether to run instead against Sen. Rand Paul, R-Ky., when his term expires in 2016. (Read more)
Palin’s Sorry: Former Republican vice presidential nominee and frequent Fox News contributor Sarah Palin apologized for calling some members of her own party “wusses” on the network. Palin made the remark while discussing the ongoing “fiscal cliff” budget negotiations. “Well I guess I shouldn’t call politicians names, so I apologize for calling the wobbly ones wusses,” Palin said Monday night on Fox News. Yeah. That sounded sincere. (Read more)
Video of the Day: “The Simpsons” villain Mr. Burns offers an alternate explainer for the fiscal cliff. The ardent Romney supporter tells us it has something to do with giving the rich people in this country all of the money, and, if that happens, they’ll drive everyone over a cliff. “It’s just common sense,” he says.