So the US did not jump off the fiscal cliff. Some of us never thought it was likely to.
The Republicans did not want to be blamed for denying most of the US a continuing tax break, just because the President insisted on taxing the very rich a bit more. The President did not want to push the Republicans so far that he managed to end up taxing all of the US and not targeting his tax rises on the rich as promised. As the deadline loomed, they found a way of passing a Bill which extends most of the President Bush tax breaks. We are going to have to go through something similar soon over the levels of spending. The US will need to raise its debt ceiling so the administratio...
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