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The Cycle

No Christmas miracle: Far from a deal on the ‘cliff’

President Obama has given up hope of a grand bargain, opting instead to work with Senate Democrats to push their bill from this past summer that extends Bush-era cuts on incomes less than $250,000. But if Boehner failed to get his party behind a million dollar threshold before the holiday break, what are the odds this bill will pass before the New Year’s deadline? NBC’s Luke Russert reports that Senate aides say there’s a 50-50 chance of the Senate getting a small-scale agreement on the floor before January 1.

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