All the hubbub about the fiscal cliff is just that — noise. The fiscal cliff has little to nothing to do with the financial and economic problems of the nation. It will be solved by raising the debt ceiling again along with token but meaningless changes in taxes and spending. Then it will recur in another year or two and the political farce will be repeated by the Washington actors.
The media is excited because it provides news for them to embellish. The skirmish is covered like a great sporting event which pits two teams against one another. For the media, the tactics employed by one side or the other is the excitement and story. It is especially juicy for them when their “team” gains an advantage over the other.
Lost in most media coverage is the real meaning behind the battle. To properly understand the fiscal cliff, think back to the ending of the Thelma and Louise movie. The debate about the fiscal cliff is the equivalent to Thelma and Louise debating the speed at which they should drive over the cliff.
Regardless of the sideshow that revolves around the fiscal cliff discussions, the speed is irrelevant. It is the fall that kills and no one is interested in discussing that aspect of the problem. Each “resolution” of the fiscal cliff only raises the level from which we are going to fall. And make no mistake about it — we are going to fall, long and hard!