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Fiscal Cliff Creates Problems That Don't Faze Obama

MariansMusings Wrote: Dec 13, 2012 5:13 PM
My friend in Brussels tells me Belgium is being overrun by "rich" Frenchmen anxious to escape the tax on the rich their President Hollande is pushing through. They don't even have to learn a second language. Wonder where the Americans will go. Obama probably doesn't care as long as the poor remain behind--and vote and vote and vote again.
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...