President Barack Obama today is hosting Congressional leaders — Speaker John Boehner and Democratic Leader Nancy Pelosi from the House and Majority Leader Harry Reid and Minority Leader Mitch McConnell from the Senate — to talk about avoiding the fiscal cliff at the end of the year.

The talks are to include the expiration of the Bush tax cuts as well as sequestration that could cut billions from key defense and non-defense programs. But whatever progress the leaders make during negotiations, no action is coming, at least not right away.

The Senate is done working for the week, and left next week clear as well. They’ll be back after Thanksgiving.

Here’s how Politico put it:

About that whole year-end fiscal cliff thing that could throw the country back into recession? Well, the Senate doesn’t seem too panicked.

With the sky about to fall in Washington, the Senate is shuttering its doors until after Thanksgiving week, having moved no closer to a tax-and-spending deal — let alone passage of major national security bills on defense and cybersecurity. The chamber couldn’t even pass a popular sportsmen and hunting bill that has been on the floor since before the elections, opting to wait until the week of Nov. 26 for a final vote.

— Michael Levine