The Fiscal Cliff Saga Is Going To End In Disaster

By Larry Doyle

Both political parties in Washington have provided plenty of posturing but little of real substance publicly in terms of what might happen in the negotiations over the impending fiscal cliff. Do you get the sense that we are facing a train wreck precipitating a real economic recession under  the watchful eyes of incompetent political engineers?

What are the real issues on the table and the potential likely scenarios that may play out? Forget the noise provided by the political pundits. Let’s review the “fiscal cliff playbook” and likely outcome as outlined by Encima Global’s David Malpass,

Rather than one cliff, the U.S. is facing a continual set of fiscal problems on both the spending and tax side. They won’t be resolved in the December lame duck session and will weigh heavily on business investment and jobs into 2013.