hang gliding

Congress stumbled up to the edge of the fiscal cliff, and went hang gliding. Several tax issues have been resolved for five years, but there still remain the $110 billion sequester, the debt ceiling, and the appropriations for the rest of the fiscal year. Congress has two months of updrafts and downdrafts before the hang gliding ends and the government lands,either back on the top or deep in the abyss.

Each side thinks it has leverage over the next agreement, but I fear the issues are much more ideological and symbolic, making it hard to reach practical solutions. Prepare for another roller coaster ride.