In response to:

For Once, Republicans Must Ignore All Calls and Jump off Cliff

johnm h Wrote: Dec 13, 2012 9:00 AM
Since the fiscal cliff is just a mole hill, it won't make a mess of the economy. Obama/Bernanke will get stagnation but not because of spending cuts, increases, or taxes. Uncertainty caused by regulations even more than taxes are leading to the stagnation . Stagnation serves their purposes. Were the economy to grow robustly Bernanke would have to reign in the monetary base with resulting increases in interest rates which would balloon the deficit Moreover he would not be able to continue to monetize Obama's debt. As it is they can quietly take over the economy while the stupid Republicans fight over a molehill.

I remember it well. It was Christmastime 1995, and much of the business establishment seemed furious with then-Speaker Newt Gingrich. As his political chair, I was hearing them out. Moreover, I was by then CEO of one of the nation's largest producers of corporate annual reports -- big-ticket items -- so I was listening intently.

But I had no influence. Bill Clinton was having nothing to do with Newt's threats to "shut down" the government, and that is exactly what Newt did -- twice -- both in December of 1995 and again in January of 1996. The result? Clinton...