Lostelephant

Frum expects Republicans to lose the fiscal cliff fight:

Sometime early [next] week, perhaps Monday itself, the president will appear on TV to offer the "Obama tax cut": the fourth biggest tax cut in American history after the Reagan, Kennedy, and George W. Bush tax cuts. Experts will note that the "Obama tax cut" is basically the 2001 Bush tax cut re-enacted, with benefits for the uppermost brackets lopped off, and probably various redistributive measures packed in for the lower brackets. The plan is already written, we can be sure.

Meep meep. Josh Barro argues that individual Republicans are acting rationally:

Republicans are eventually going to have to agree to a compromise deal that is acceptable to a broad swath of Democrats and that substantially raises taxes. Their base is going to hate that. But if they drag their feet and get smacked around enough on the way to the deal, they will be able to sell the idea that they had no choice but to cave. … A good fight — or at least the show of one — placates the conservative base and helps Republicans avoid primary challenges. It also makes the Republican Party look incompetent and reckless, damaging the national brand.

Meep triple meep.