Congress, you best sleep well on this one. Senate Majority Leader Harry Reid announced that there will be no vote on the fiscal cliff this evening, but talks will continue through the night and everyone will reconvene Monday morning at 11:00 AM for their last chance to make a deal before the midnight, end-of-year deadline. Negotiations reportedly hit a “major setback” Sunday when the GOP demanded that any deal include a change to the way Social Security benefits are adjusted for inflation—a measure called the “chained CPI.” As of Sunday evening, Senate officials declared the Social Security issue—nicknamed the “poison pill"—officially off the table.
