We’ve been trying to deal with the national debt in this country for 30 years now. The fiscal cliff is just the latest failed gimmick. We’ve had more failed gimmicks than professional wrestling.
The Great Debate
2012 was the first class-warfare election of our new Gilded Age. The first since the middle class has come to understand, in the words of new Senator-elect Elizabeth Warren (D-Mass.), that the “rules are rigged against it.” Business-as-usual may no longer be acceptable.
Americans want to see Congress and the president make a deal on the “fiscal cliff,” that noxious mix of expiring tax cuts and mandatory spending slashing due at year’s end. They just don’t think it will happen without a lot of pain, according to recent polls.
The new Congress next year will likely inherit high-stakes standoffs over many complicated issues, from financial credibility to immigration. Our elected leaders must be able to make difficult trade-offs and craft policies that reflect the best expert knowledge.
The conventional wisdom has arrived: 2012 was a status quo election. President Barack Obama was reelected. Democrats continue to have a majority in the Senate. Republicans still control the House. Only two states changed their presidential votes from 2008 to 2012 (North Carolina and Indiana). Six billion dollars were spent and almost nothing changed!
In October 2011, National Journal surveyed energy experts about whether Obama was likely to approve the Keystone XL pipeline, which would carry Canadian tar-sands oil through the U.S. to the Gulf of Mexico. Ninety-one percent of the “energy and environment insiders” believed he would.