re: #22 dragonfire1981

I’d love to see how much more the GOP would be disliked if we actually went over the edge.

Not to jump on the above comment in particular, but I have a somewhat different view about the “fiscal cliff”. Of course, it would be ideal if Congress were able to work with the President and produce a good deal. But, to paraphrase what Donald Rumsfeld once gracelessly said about the U.S. military, this is “the Congress that we have”.

Given the current Congress, I see the fiscal cliff as the one and only chance at meaningful deficit reduction. The one and only chance for the next two years at least. I believe we’re actually very, very lucky to have this one chance. The fiscal cliff is the one and only serious deficit reduction that Congress cannot block.

Of course, I sympathize with those who would lose unemployment benefits. And I won’t be happy to pay more in Social Security taxes. But I am confident that the Federal Reserve will do whatever it takes to stimulate the economy. The Bush tax cuts would finally, mercifully be history. And I’m excited about America finally being on a better fiscal foundation.

I know it’s not ideal, but I really think the “fiscal cliff”, which was “the deal” in Summer 2011, may turn out to be a very good thing for the country. And if he lets it happen, President Obama will have presided over a significant improvement in the nation’s financial balance, which is a fine legacy to have. Ideal? No. Lucky to have the option? I think so.