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.”