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View Diary: Saying "Fiscal Cliff" Is Taking Sides (21 comments)

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  •  They only have to if they want a deal. (2+ / 0-)
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    nextstep, VClib

    They can certainly choose no deal and have all of the tax increases and spending cuts go into effect on January 1.  

    I think that it's becoming clear that the Republicans are going to compromise and agree to revenue increases in order to get the spending cuts they also want.  They have no incentive whatsoever to agree to the tax increases on the wealthy without the corresponding spending cuts the President campaigned on.  

    I don't think there's a snowball's chance in hell that the Republicans will agree, either before or after January 1, to just revenue increases.  

    So both sides have a choice:  (1) make a deal (i.e., give up something significant that we want, in order to get something significant that we want), or (2) all of the tax increases and spending cuts.  That choice isn't going to change after January 1.  Neither side is going to get a deal without compromising -- Republicans compromise on revenue, Democrats compromise on spending cuts.  Each side has two options:  (1) compromise or (2) the so-called "fiscal cliff."  Those two options don't change on January 1.

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