Know one knows what would happen if no deal is reached and the country plunges over the "fiscal cliff". Everyone assumes that it would be bad. Why? Because taxes would go up on EVERYONE. By the Democrats' logic, if taxing the rich is "good", wouldn't taxing EVERYONE be better? By the same token, cuts in Federal spending HAVE to be made. If the politicians don't have the courage to do it, some formulaic method is necessary because spending has to be cut. There isn't any other way to make progress on reducing the deficit and debt.