Brien Poffenberger: A white-knuckle ride to fiscal cliff's edge

Last year, when Congress and President Obama couldn’t reach a budget deal, they agreed to a doomsday plan with an automatic timer set to go off at the end of 2012. What we have come to call the “fiscal cliff” combines indiscriminant budget cuts with de facto tax increases. Back in 2011, everyone thought that such a painful alternative would force a compromise. But here we are — just weeks away — and policy makers still haven’t come to an agreement. 

By BRIEN POFFENBERGER

December 12, 2012