Anyone ready to play devil's advocate? Let's start now. The best way to solve America's deficit woes is to let the US economy fall off the fiscal cliff. Yes, the very cliff that economists and politicians warn about. Yes, going over may put the US at risk for another credit downgrade and, yes, cuts would plague the Pentagon and entitlement spending.
But it could help the US in the long run, according to the Week
If you support raising taxes, that's a reason to favor going over the cliff. Major supporters of the Bush tax cuts, which are set to expire at the end of the year, would have to work hard justify another era of cuts, as Marc Theissen of the Washington Post notes.
The expiry will mean a tax hike without Republicans violating their pledge against tax increases, and has the added benefit of forcing Democrats to the tax-code-reform discussion table.
And for all you deficit hawks, here's another big benefit to going over the cliff: it would return tax revenues to 1990 levels and cut spending, both key ingredients in tackling the deficit.
Via the Week