Happy Fiscal Cliff Groundhogs Day

A few weeks ago I admitted skepticism about a compromise on the fiscal cliff. I cited the debt ceiling debacle as proof. It seems like American’s are getting more of the same. Democrats and Republicans are again at a stalemate over the fiscal cliff. House Speaker John Boehner blames president Obama, and the President has avoided questions about whether Democrats are willing to comprise. The main issue: will the tax rates on the wealthy be increased from 35% to 40%, or will it be somewhere in between? Tom Cohen of CNN chimes in:

“With both sides agreeing the wealthy will pay more, the fiscal cliff talks come down to how much Republicans can wring out of the White House in return for giving in on taxes.”

I am skeptical that Republicans will raise taxes on the wealthy. I also continue to confident that both parties will make a mess of America’s economy as the Republicans continue to lie about being on the side of small business, and the Democrats have no clue what small businesses need to grow. The next step, another credit downgrade for the U.S., at which point we can all fall over the cliff into the fiscal canyon together.

Fool me once….