Dean Baker: The Biggest Myth in Obama-GOP Spending Showdown is the "Fiscal Cliff" Itself
December 14, 2012
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13:18Now PlayingDean Baker: The Biggest Myth in Obama-GOP Spending Showdown is the "Fiscal Cliff" Itself
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as posted by the channelDemocracyNow.org - As negotiations continue between the White House and House Speaker John Boehner, leading economist Dean Baker joins to discuss the myths about the so-called fiscal cliff. With little more than two weeks before the deadline, President Obama insists on an immediate increase in the top two income-tax rates as a condition for further negotiations on changes to spending and entitlement programs. But Boehner said Washington's "spending problem" is the biggest roadblock to reaching a deal, and has urged the White House to identify more spending cuts. "This idea that if we do not get a deal by the end of the year we will see the economy collapse and go into recession, that is totally dishonest," says Baker, the co-director of the Center for Economic and Policy Research. "The basis for this is that we don't have a deal all year -- the fact that you do not have a deal December 31 does not mean that you do not get a deal by December 31, 2013."
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