US lawmakers adjourned until December 27

'Plan B' collapse draws fiscal cliff nearer: Republican House leaders failed to get a vote held on a 'Plan B'. The failure has led to increased pessimism over whether a deal can be struck, and "marks a serious miscalculation on the part of Mr Boehner, who hoped the measure’s passage would increase his leverage in talks with Barack Obama". It was unclear how efforts to reach agreement would proceed, with the House adjourned until December 27 and the Senate, apart from meeting for a few hours this afternoon, effectively doing the same. (Financial Times)(Washington Post)

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