Tuesday, January 1, 2013

Think the Fiscal Cliff Issue is Over – Think Again

Like a Bad Daytime Soap Opera, This Show Will Just Not Go Away

Lookout John Boehner – They Will Be Gunning For You

The euphoria of everyone (except here) of a deal on the fiscal cliff that passed the Senate is misplaced.  First of all, the bill has to pass the House, and no one knows what will happen there.  But more importantly, all this does is shift the debate to the next two fiscal cliffs that are coming down the road.

The debt ceiling, that stupid law that says even after Congress has voted to spend money the Congress must authorize the debt to pay for the spending will hit in the next two months.  And the law that authorizes government spending will expire in three months.  Republicans are drooling (their natural state) at the prospects of these two deadlines.

Since Republicans are willing to shut down the economy and permanently damage the United States to get their way, and since the President is one of the worse negotiators ever seen in public office an ugly fight will on the horizon.  The outcome depends on just how hard the President is willing to fight and resist caving, and the record so far is not encouraging.

As for Mr. Boehner, his job as Speaker of the House was secure because no one else wanted to be responsible for the current solution to the expiring tax cuts.  But if that issue goes away, Boehner has two choices, a hard line on any future deal or being voted out of his leadership position. 

Goodbye John.

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