The polls are pretty much unanimous. When it comes to the so-called “fiscal cliff,” the public supports the president by margins even larger than those by which he won re-election in November.
Beginning in 2013, the automatic ending of the Bush tax cuts and automatic spending cuts would most likely send the economy into a recession. The president has made a proposal calling for what he calls a “balanced approach” of spending cuts with the ending of tax breaks for the rich, while the GOP’s counteroffer demanded larger cuts and much less in revenues.
Here are five reasons the Republicans have little to no leverage on the “fiscal cliff” other than a threat that the president will begin his second term cleaning up another Republican-sparked economic crisis.
Copyright 2012 The National Memo