The Company Memo: Monday, December 31, 2012

Updated
Senate Minority Leader Mitch McConnell, R-Ky., last week.
Senate Minority Leader Mitch McConnell, R-Ky., last week.
J. Scott Applewhite/AP

Time’s running out for Congress to make a deal to avert the fiscal cliff. As of Sunday night, no deal had been reached—and after Senate Republicans demanded changes to Social Security, Democrats balked. Senate Minority Leader Mitch McConnell appealed to Vice President Biden to restart the talks, and aides tell NBC News that phone calls between the two continued until around midnight. With just hours left before automatic spending cuts take effect, the Senate will resume negotiations at 11 AM ET Monday.

Plus, who’ll be blamed if we go over the fiscal cliff—and is voter backlash enough motivation for lawmakers to cut a deal?

Check out National Journal’s write-up of what it would mean to go over the cliff- and what we could say good-bye to, besides the Bush tax cuts and unemployment benefits.

And we’ll have the latest on Secretary of State Hillary Clinton’s health after she was hospitalized with a blood clot resulting from her concussion over the weekend.

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The Company Memo: Monday, December 31, 2012

Updated