Let’s go over the cliff Gangnam Style.
It used to be an accepted truth that America would never negotiate with terrorists — at least before Obama made ‘leading from behind’ so popular — or the ascendency of his current variation, ‘leading from nowhere.’
Well… in fiscal negotiations Barack Obama is a terrorist. Think about it; he has nothing to lose, because he cares only about winning — the nation be damned. In fact, the economic depredations inherent in cliff diving provide him with an advantage.
By letting lower tax rates on the middle class expire, potentially he has access to so much more money to transform America, along with the ability to blame the Republicans for the entire debacle — should he choose that route.
Or… he could wait, and then propose legislation restoring the rates for the middle class only, while including an increase in executive power — the ability to unilaterally raise the debt ceiling without the approval of Congress.
Control of the debt ceiling is one of the few tools the House can wield, but it only becomes effective as a weapon in the beginning months of the year, when the ceiling is reached, whereas the cliff is New Year’s Day.
…And his majesty is salivating over the prospect of campaigning — yes, to him, this is still a campaign — on tax cuts for the middle class held up by greedy Republicans trying to reward their wealthy buddies.
As for the sequester, the second part of the fiscal cliff, half of the spending cuts would be borne by defense, which ties in nicely with his notion of America as more humble — one nation among many — in a world of equals, with most more equal than us. The cuts to social programs can be finessed with executive orders, innovative regulatory fiat and imperial diktats.
You see, there is no downside for him.