Fiscal Cliff: A GOP Doomsday Plan
Saw this in Yahoo. Thought it was a clever tactic on the GOP's part.
Republicans are seriously considering a Doomsday Plan if fiscal cliff talks collapse entirely. It's quite simple: House Republicans would allow a vote on extending the Bush middle class tax cuts (the bill passed in August by the Senate) and offer the President nothing more: no extension of the debt ceiling, nothing on unemployment, nothing on closing loopholes. Congress would recess for the holidays and the president would face a big battle early in the year over the debt ceiling.
By doing this, Republicans avoid taking blame for tax increases on 98 percent of income tax payers. As one senior Republican in Congress told me, "You don't take a hostage you aren't willing to shoot." Republicans aren't willing to kill the middle class tax cuts, even if extending them alone will make it harder to later extend tax cuts on the wealthy.
Still unclear under this plan is what would happen to the automatic defense cuts - " sequestration" - scheduled to go into effect on January 1 without a deficit deal.