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Fiscal Cliff Creates Problems That Don't Faze Obama

Flyover Al in CT Wrote: Dec 13, 2012 2:52 PM
He has erected a Multitude of new Offices and sent hither swarms of Officers to harass out people and eat out their substance. Th. Jefferson 7-4-76
Is Barack Obama bluffing when he threatens to go over the fiscal cliff if Republicans refuse to agree to higher tax rates on high earners?

Some analysts think so. Keith Hennessey, a former top staffer for the Bush White House and Senate Republicans and a veteran of budget negotiations, argues that Obama's whole second term would be blighted if he allows the fiscal cliff tax increases and sequestration budget cuts to take place next month.

His argument is based on three assumptions. One is that going over the fiscal cliff would trigger a sharp recession and a weak economy thereafter. Many...