The “worst case” in the sequence of events forecasted two days ago in “The Most Critical 48 Hours In The Fiscal Cliff Melodrama Have Begun” is taking shape, with Obama and Boehner not even remotely close to a compromise despite what the media and fly by night sellside analysts will have you believe. Instead what looks almost certain to happen is a House vote on the GOP-proposed Plan B where it will pass, only to be voted down in the Senate, especially with the pre-veto treatment by Obama. The House vote will be preceded by a Boehner press conference in which he will prepare the general public for this one final PR gambit before the House essentially shuts down for the year, as any hope of further Cliff discussion in the Christmas week can be abandoned. So from a timing standpoint:
- House republicans meet at 12:00 pm to discuss the final act of the 2012 season of the Fiscal Cliff miniseries.
- Boehner holds press briefing at 1:15 pm Eastern
- House scheduled to vote on “Plan B” between 7:30 pm and 9:30 pm
Shortly thereafter Senate votes Plan B down and chaos ensues.