Most in the media are being manipulated by politicians. Here's an analysis from CBSNews that appears accurate. As for me, I think this will be my last post on the fiscal cliff. BORED. I'd rather not watch all the shenanigans. It will get done if for only one reason, business is pressuring the GOP to compromise. Republicans have only one first move and that is to extend tax cuts for the middle class.
Republicans are thus arguing that the controversial budgets spearheaded by Rep. Paul Ryan, R-Wisc., are effectively their proposal. And the Ryan budget, with its deep cuts to entitlements and other spending, has the same chance of getting through the Senate as the Obama proposal has getting through the House: Zero. If the Obama proposal is a "joke," then the Republican proposal is the exact same joke.
Here's the reality: Despite the fact that the "fiscal cliff" deadline is just a month away, the two sides have yet to get serious about coming to an agreement, at least publicly. (It's anyone's guess what's happening behind closed doors - despite leaks from both sides that have fed speculative news stories, there is no evidence that either side has yet made major concessions.) They are effectively at the beginning of negotiations, with each player posturing in an effort to improve his position before the real deal-making begins. cbs