This Fiscal Cliff everyone is so concerned about strikes me as a minor, necessary, and salutary cut in spending. Obama has irked Republicans by seeking $700-1,000B raise in taxes over ten years, but we have a $16T national debt this year. We are already far far past the point where serious measures are required, but Obama is posturing for his pet issue of tax raises, when the real driver of the deficit is our overly generous and expansive system of entitlements, including everything from EBT and farm subsidies to social security and medicare. Instead of taking these seriously, Obama added a new one in the form of his health care program. Dithering about a few hundred billion in tax raises when spending growth continues apace (and in fact additional spending has been proposed by Obama) makes the whole process a farce. And we are getting to the point which Romney was so mocked for where a numerical majority of voters don’t care. They are net takers of government services and spending and pay little, if anything, in taxes.