Press reports indicate that federal legislators are working toward a temporary resolution of the pending federal budget crisis, with a compromise on several issues seeming likely before the upcoming scheduled recess. From Associated Press reports:
Democratic and Republican leaders expressed optimism at prospects for swift compromise on their payroll tax standoff and a spending battle that had threatened to shutter federal agencies beginning at midnight Friday.
The two-month extension would let lawmakers revisit the measure after returning to Washington after the holiday season. That could be risky because that work would come well into the 2012 presidential and congressional election year.