I believe some agreement will be done on the looming fiscal cliff before January 2013.
BUT IT WILL BE ON OBAMA’s TERMS BECAUSE OF THIS ELECTION.
Hence, those making $250,000 and over (Obama calls them the millionaires and billionaires ) will see a 4% tax increase. Taxes on Dividends will go up as well. Defense spending WILL take a huge hit ( HINT: Obama said to Medvedev ( captured on mic ) that after his election, he will be flexible towards them and this IS what he means flexibility ).
But numbers are numbers. WE WILL STILL BE ON TRACK TO PERMANENT TRILLION DOLLAR DEFICITS AND A DEBT LOAD OF AT LEAST $20 TRILLION.
America gets what she votes for.
A majority of voters voted for inflation, high unemployment, and more jobs losses via businesses closing down. They were told and wouldn’t listen. We will point it out as it happens.