Is it feasible/plausible that Obama will not only take us to the fiscal cliff, but also push us over it and then keep us there? That is, not negotiate any kind of deal with the Republicans at all, not before or after January 1? Unless you assume Obama doesn’t want cuts to entitlements — which I don’t assume; I believe he’s an austerian of Reactionary Keynesianism — think about what he gets if he allows the sequester to go through: higher tax rates, cuts to entitlements, and cuts to defense. That seems like classic New Democrat/Clinton goals. I recognize it would put the economy in danger of recession but Obama’s not up for reelection and modern Democratic presidents have shown remarkably little interest in the fate of congressional Democrats, particularly at mid-term election time, and in party-building more generally. So, I ask: will he take us over the cliff and then keep us there?
November 9, 2012
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