Friday, December 21, 2012

Over the Cliff!!!

Butch and Sundance did it.  Thelma and Louise did it.  Results were mixed.

As for the fiscal cliff, it is pretty obvious that John Boehner cannot control his caucus.  Maybe, come January, the crazies will elect Paul Ryan to the office of Speaker.  You never know with those assholes.

I just listened to Obama's brief statement. He didn't say much — certainly nothing especially specific.  I was kind of hoping he would withdraw his most recent offer ($250,000 to $400,000, "chained CPI"), but he didn't.  He just expressed a little half-hearted optimism and left the room.

I suspect the Administration calculates that going over the cliff might turn out to be a net gain.  Now that Boehner's "Plan B" is dead, the last chance for Republicans dodging responsibility is gone.  Once the leap is undertaken, and tax increases and sequestration kick in, the right-wing ideologues scarcely could oppose tax cuts for the middle class because they are not extended to the very rich.

As for the sequestration, those spending cuts will kick in slowly, probably not doing a great deal of damage while Congress works to balance the demands of the defense lobby and the remainder of the human race.  I fear defense will make out better than humanity, but what the hell?  What would you expect?

Will the markets take a dive?  Uh huh.  Briefly.  As I've observed before, the markets have very little to do with real life.

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