Bottom Line on the "Fiscal Cliff"

The tax increases will be real. The spending cuts will be illusions, at best, a minor slowing of the rate of increase. We may not even see that. Word is that the two division of the uniparty are discussing postponing "sequestration," the automatic so-called across-the-board cuts in domestic and military discretionary scheduled to kick in at midnight. Republicans reportedly want a three-month postponement, Democrats a two-year postponement.

Business as usual. You can't make this stuff up.