So it has come to this. The stagnant economy is showing signs of life, except that a dysfunctional Congress seems intent on snuffing it out. We have arrived at the fiscal cliff.
If Washington politicians can’t reach a last-minute deal, 2013 will begin with a big batch of tax hikes and cuts in government spending that could lop four percent off GDP and trigger a recession. It’s a maddening turn of events because the huge mismatch between the government’s spending and revenue–along with the cliff deadline itself–are entirely man-made problems that could be solved by rational people applying the same logic it takes to run a business or manage the family finances. But occasionally we must put up with outrageous political posturing as part of the price we pay for a free society.
So we may have to deal with the fiscal cliff for a while. Here are five ways to do it: