Politico: Politicians want to go over the cliff

There’s actually nothing about the “fiscal cliff,” the combination of spending cuts and tax increases that kicks in at midnight, Dec. 31, that can’t be fixed in the new year. But that won’t stop the media from milking every last bit of drama from the political showdown. President Obama and congressional leaders have scheduled meeting at the White House this afternoon, ostensibly to try and hammer out a deal. But Politico delves into the inside baseball and describes how going over the so-called cliff might make sense for both sides politically. For many Republicans, a cliff dive means blaming Obama for a tax hike in the short term and then voting to cut taxes for most Americans next month. That’s an easier sell back home in Republican-heavy districts. If they back a deal now, they run the risk of facing primary challenges in two years. For Democrats, the cliff is better than setting a rich man’s cutoff for tax hikes in the million-dollar range — or worse yet, extending the Bush tax cuts for all earners — and slashing Medicare and Social Security. They see an advantage in negotiating next year with Republicans who will feel freed from their promise not to vote to raise taxes once the rates have already gone up.