Reid: Fiscal Cliff is coming ...

Reid: Fiscal cliff failure looks likely due to Boehner's House 'dictatorship'

Updated 11:41 a.m. - The Senate’s top Democrat said Thursday that he was pessimistic that Washington could avoid the impending fiscal cliff, accusing House Speaker John Boehner, R-Ohio, of running the lower chamber as a “dictatorship.”

Senate Majority Leader Harry Reid, D-Nev., said he was unsure there was enough time between now and the end of the year to reach a deal to avoid the combination of spending cuts and tax hikes set to take effect on Jan. 1. Reid said “the only viable escape route” was for the GOP-controlled House to give its approval to a Senate bill that would preserve existing tax rates on income under $250,000.

Senator Harry Reid delivers a statement on the fiscal cliff condemning the actions of Republican leadership, saying he "can't imagine their consciences. They are out there, wherever they are ... and we're here trying to get something done."

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