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November 28, 2012

Managing Expectations on the Fiscal Cliff

First Read notes the current negotiations over avoiding the "fiscal cliff" essentially amounts "to running in circles, because the real negotiations won't take place until mid-to-late December. The reason: Washington typically needs hard deadlines to force members to act. But there is something quite significant that's going on during this running-in-circles period. Republicans and Democrats are beginning to prepare their own bases for what the deal will ultimately look like."

National Journal: "The Kumbaya rhetoric and photo-ops between President Obama and congressional leaders surrounding the so-called fiscal cliff are starting to wear thin. ... For all of the optimism surrounding the initial meetings between leaders, very little progress has been made...."

Politico: "This is the public relations phase of the latest fiscal showdown in Washington, where direct engagement is no longer viewed as the optimal route to reaching a deal. As Wall Street shudders and Congress once again risks looking feckless in the face of crisis, both sides are locked in a battle to win over key interest groups -- and the public."


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