Fiscal cliff politics is making for some strange bedfellows. The conservative Wall Street Journal editorial page and liberal icon Howard Dean both think taxes should be hiked and spending cuts should proceed Jan. 1, 2013 - though they reach the same conclusion for different reasons.
Dean, former VT governor, DNC chair and 2004 presidential candidate, recently told CNBC the only way to solve America's debt crisis and bring certainty to Wall Street and the business community is by going over the fiscal cliff.
Dean said higher taxes on everyone - not just the wealthy - are necessary and that the benefit of tax increases and spending cuts might be worth sending the country back into recession.
For the WSJ editorial board crew, "a bad budget deal is worse than no deal at all." According to this theory voters would side with congressional Republicans if the US went over the fiscal cliff.
"Let Mr. Obama own the tax increase and its measly 7.5% annual reduction in a $1.1 trillion deficit. Let the sequester take effect as planned, which at least means some spending restraint. Then engage Mr. Obama next year in trench warfare over spending and the debt limit as voters figure out that soaking the rich doesn't begin to solve the problem."
Via CNBC.com and WSJ.com.