The Best Fiscal Cliff Idea That Will Never Happen Ever
Dreamin’ out loud in the Washington Post:
Rather than try to find a path around this impasse — and in the process, pass a debt reduction bill that will put the United States on the path toward unnecessary (if more moderate) austerity — the Obama and House Republicans should agree to postpone the fiscal cliff until the economy has improved. More specifically, they should peg the Bush tax cuts, the payroll tax cuts, and the unemployment insurance extension to improved economic conditions, as measured by the joblessness rate. Rather than the arbitrary trigger of January 1st, 2013, the United States would not go over the fiscal cliff until it was economically ready to do so. At that point, Congress and the White House can haggle over the right level of spending and taxation.
If this happens, I’ll eat my hat—which I got in exchange for voting for Obama. #gifts