How a sane political system would deal with the fiscal cliff
Saturday, 1 December 2012
Washington is not known for the stunning clarity with which it frames and addresses tough issues. But has there ever been a debate so mired in confusion as the one around the so-called fiscal cliff?
The trouble starts with the term "fiscal cliff," which misstates the nature of the problem and provides no hint of how to solve it. I prefer the term "austerity crisis," which at least describes the real issue -- too much austerity, imposed too quickly. (This has the added advantage of sidestepping an increasingly inane discussion over whether the problem is really a "cliff," "curb," "slope" or perhaps a "bomb.")