Don’t Jump! Ctd

Oct 11 2012 @ 8:26am

Surowiecki fears that we will tumble over the fiscal cliff:

[T]he cuts were designed with an eye to what would be most painful to people in both parties, rather than to what kinds of trims in government spending might make sense. It would be farcical to let cuts go through that nearly everyone on Capitol Hill thinks are misguided. Besides, the goal that sequestration was originally designed to enforce makes little sense right now. With the U.S. government able to borrow money at incredibly cheap rates and the economy still weak, slashing federal spending is the opposite of smart. The fact that Congress was foolish enough to create the fiscal cliff doesn’t mean it also has to be foolish enough to drive us off it.

Sarah Binder thinks another "round of kick the can seems the more likely outcome—regardless of who wins in November :

If the terms of a framework for a 2013 deal were sufficiently vague, then perhaps a re-elected Obama could secure GOP votes for a deal in the lame duck. Still, after the elections, I’m skeptical that lawmakers will be able to agree on what message was sent by the voters, particularly if the status quo persists. The 112th Congress couldn’t agree on very much; little reason for them to surprise us now.

Recent Dish on the fiscal cliff here.