The last paragraph from today's Paul Krugman column reads: "So keep your eyes open as the fiscal game of chicken continues. It's an uncomfortable but real truth that we are not all in this together; America's topdown class warriors lost big in the election, but now they're trying to use the pretense of concern about the deficit to snatch victory from the jaws of defeat. Let's not let them pull it off."
Do elections matter?
That the fiscal cliff raises this question is what makes it so fascinating. Bush wins an election in 2000 by Supreme Court intervention to stop a Florida recount and then he governs -- tax cuts that predominantly benefit the very wealthy and two large wars -- as if he made a clean sweep of the Electoral College. Obama actually wins big -- twice -- in the Electoral College and he has yet to deliver one of his top campaign promises from 2008, to let the Bush tax cuts expire for the top 2%.
So far all Republicans are willing to accept in terms of increased revenue is a cap on deductions, which was Romney's position during the campaign.
It is as if this November's election never happened.
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