Fiscal cliff just drama queens doing their thing
posted by Tom Patterson
at 6 January, 4:12 PM 0
The fiscal cliff reminded me of the Y2K crisis of 13 years ago. The manufactured suspense. The dire predictions. The deadline is coming! We’re going to hit the wall! Self-important media types were explaining the looming danger to the credulous rubes. And then, when the mighty climax finally came – pffft. Nothing. Just kidding. All those of you who thought Washington politicians were going to use the fiscal cliff to begin real fiscal reform can go back into your cocoons now. It was the same old, same old. Raise taxes now and we’ll cut spending later. Really, we promise. We must look stupid. This was the same deal made with Bush 41 and with Reagan. They even got it in writing, but the cuts somehow never happened. This was the basis of the last debt ceiling agreement and countless other negotiations. Now Obama and the R’s agree: we’ll cut spending next time. Why would anyone believe that? Nothing will have changed when the next debt ceiling talks take place. Obama will still be president, the Senate will still be in a blocking position and the House leadership will still be clueless. Demagogues will be on standby ready to pounce on anyone who breathes a word of even the most modest reform of middle-class entitlements. Obama will talk his usual good game but, as my mother told me, deeds speak louder than words. Watch for that famous can to get yet another kick down the road.
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