Cliff Jumping

Chait still expects us to go over the fiscal cliff:

Everybody knows what happens in January. Both sides ought to be able to anticipate it and make the deal they could make then now. Business types have therefore assumed a December deal would happen. If this was a business deal between two rational people, that’s what would happen. But we are not dealing with rational people here. We are dealing with House Republicans. As Republican Tom Cole gently put it, by way of describing his colleagues' implacable hatred of taxes, “It’s who they are. It’s the air they breathe. It’s what the Republican electorate produces.”