doubt cast

Hopes to avoid the "fiscal cliff" went away as fast as Santa's sleigh at take-off last evening when House Speaker John Boehner announced that House Republicans could not come together for a vote to pass the "Plan B" bill. The vote was cancelled due to enough House GOP members being against a higher income tax.

The Dow Jones Industrial Average was about 150 points lower after taking the lead from overseas exchanges.

Boehner may have to take a lead from the House Democrats to get something through. President Obama had the upper hand in the negotiations and remains upbeat that a resolution will be forthcoming.

Some members of the Washington press corps have serious doubts that a plan will be reached. There seems to be too many factions in the process.

What House Failure Has Shown

Business and corporate leaders who have lobbied for a deal didn't seem to have much sway.



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