For John, BLUF: There is no national concensus on how to fix a recession, and no concensus amongst economists to help us. Nothing to see here; just move along.
Remember when the Republican House members were being excoriated for being stupid, selfish idiots for playing chicken with the debt ceiling?
Now we have their Democratic Party equivelents, "the [fiscal] cliff divers".
Washington Post writer Suzy Khimm writes:
The very notion of a “fiscal cliff” suggests that the country is approaching a calamitous drop-off at the end of the year — and it would be tantamount to suicide to jump off.NOTE: Later in the story is the acronym CBPP, Center on Budget and Policy Priorities.
But a contingent of policy wonks and Democrats insist that letting the Dec. 31 deadline come and go — thus triggering automatic tax increases and spending cuts — could produce the best outcome for the country. Once the tax hikes have kicked in, the reasoning goes, Republicans would be hard-pressed to roll them all back and would have to accept a deal on taming the deficit that contains more new tax revenue than GOP lawmakers want.
Hat tip to the Instapundit.
Regards — Cliff