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President Obama Has Drawn A Dangerous Line In The Sand


Pepper

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obama-has-drawn-a-dangerous-line-in-the-sand-2012-11Business Insider:

President Obama Has Drawn A Dangerous Line In The Sand

 

by Bruce Krasting, My Take On Financial Events

 

 

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I was surprised by the reaction in the press to the positions set forth by these two. The headlines make it seem like B&O are ready to work together, and achieve the necessary compromises to avoid falling off a cliff. I think the press has it wrong. We’re headed into a bitter fight; in part, because the President has drawn a very dangerous line in the sand.

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My conclusion is that we are in for a fight. Talk of compromise and “coming together for the good of the country” is just noise. The President is insisting on a tax increase that will not achieve anything of substance. Obama has drawn a very visible line in the sand over this issue. I can’t imagine how the House Republicans will go along with it. The President’s opening position on how to work through the fiscal cliff is about politics, not economic substance.

Get ready for a failure in these negotiations. We are going to fall off of that cliff in 53 days!

 

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Great tables and figure in this article

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