all the smart folks of every political persuasion are advocating much the same.<quoted text>
I liked this comment from the WSJ:
was too hopeful that the Republican Party would realize it was time to compromise. But they continue to be obstructionists.
If we can’t compromise to get wealthy Americans to pay their fair share, let’s all drive off the cliff together. When we go off the cliff, wealthy Americans will start paying their fair share. Average Americans will have to pay a little more than their fair share; i hope we can handle that for a while. We will get defense cuts, something the Republicans would never agree to. And social security and the Affordable Health Care act will be fine, unrelated issues the Republicans keep bring up. Fear will tumble Wall Street but it will bounce back very soon.
Driving off the cliff might be the best deal we get. Don’t be afraid, don’t blink.
GOP Between A Cliff And A Cave
As I’ve argued here | here | here the fiscal cliff is much more a public relations gimmick designed to cause submissive urination within the GOP than representing any long term risk to the economy. In fact, the CBO says the short term recession that may be triggered by going over this alleged cliff will result in long term growth.
Right now we have the best deal we are going to get: real spending cuts against the tax rates going back to the way they were during the Clinton years.