Originally Posted by da_juice
I don't understand much about budgeting- does mean the fiscal cliff is also delayed until March? Or is this totally different?
No - this is totally different. The fiscal cliff is:
1. The sequester process which will slash spending on Jan 1 barring alternative legislation (this is from the debt ceiling debate)
2. Bush tax cuts expiring, which will raise taxes on everyone Jan 1 barring alternative legislation (this is from 2001/2003, and extended in 2010 lame duck session)
We also will have another debt ceiling debate early next year, most likely.
But yes, your overall point about how our government run is correct. One proposed solution to #2 is letting all the tax cuts expire, and then passing new tax cuts early next year for everyone except the rich. This would allow Republicans to maintain their stupid pledge to Grover Norquist to never vote to raise taxes.