Politicians in Washington only seem interested in kicking the can down the road.
Just a reminder: The upcoming negotiations on the fiscal cliff are only necessary because Congress and the White House prefer kicking cans down the road to dealing with problems. This is important to remember, because the most likely “solution” to the fiscal cliff will be no solution at all.
Recall two events: The first came at the end of 2010. We were facing the expiration of the Bush tax cuts and a massive tax hike on every income-tax-paying American. Congress and the White House were unable to agree on a rational fix for the federal tax code, so they simply extended the tax cuts until the end of 2012.