fiscal cliff deal

CONGRESS APPROVES BILL TO AVOID FISCAL CLIFF; SAN DIEGO DELEGATION DIVIDED

By Miriam Raftery

January 2, 2013 (San Diego’s East County ) – By a 257-167 vote late last night, the House of Representatives approved without changes a “fiscal cliff” deal previously passed by the Senate 89-8.

The stock market reaction to ending the uncertainty was positive, rising 235 points or 1.9% on January 1 for a second-straight day of triple digit gains. It’s a deal that reflects compromise on both sides, averting a potential crisis short-term, but deferring major decisions on spending cuts and raising the nation's debt ceiling down the road.

The decision divided  the Republican leadership, as well as the local Congressional delegation. Lame-duck Republican Congressman Brian Bilbray joined with Democrat Susan Davis in voting for the measure, while Republicans Duncan Hunter and Darrell Issa voted against it.  (Bob Filner resigned his seat Dec. 3 to assume his new responsibilities as Mayor, leaving his seat vacant until Juan Vargas is sworn in later this month.)