Who’s Winning the ‘Fiscal Cliff’
thedailybeast.com — Last Tuesday night, the brutal, endless presidential election ended. Last Wednesday morning, what promises to be a shorter, but equally brutal, process began: the effort to stave off the collection of tax increases and spending cuts that are slated to take place on Jan. 1. Most analysts have viewed the upcoming fiscal cliff as a test of our governing capacity. I view it as a hostage situation. In a stunning role reversal, President Obama and his congressional allies are now holding the Bush-era tax rates on income and capital hostage, while the Republican Party struggles to figure out a ransom strategy. In any negotiation, if you are the only party putting forth proposals, then you’re losing. And on Sunday, Day 5 of the hostage crisis, it was clear that the Republicans were beginning to break down.