Fiscal Cliff Deal

While a deal has been reached in the fiscal cliff saga, the result is a disappointment. There was no grand bargain, which was unfortunate, though grand bargains are likely going to be hard to come by in the near future.  The deal basically kicks the can down the road, meaning congress will have to deal with the situation later, or kick the can further away.  Remember, the fiscal cliff was a creation of congress that delayed tough decisions.  This strategy has been the new norm for any debt related debates, leading to a stagnant reform effort.