Gail: Happy New Year, David! How do you think we’re doing so far? I guess if you’re going to plunge over a cliff, it’s better to hop back up again before the end of the long holiday weekend.

David: I would say so far the start of 2013 has given new meaning to the word inauspicious. If I’d been in the House I would have been sorely tempted to vote against the fiscal cliff bill. The measure was supposed to improve our fiscal situation. It was supposed to be balanced between tax hikes and spending cuts, like the president promised. It has some tax hikes but effectively no spending cuts. In other words the law fails to fulfill both of its primary objectives. When a law fails to achieve its objectives, aren’t you supposed to vote against it?

Gail:  Well, not if you’re on a cliff. I was disappointed that the White House rolled over on the $250,000 bar for tax cuts. Give me a break. It should have been $75,000 from the beginning. But we’re all supposed to make compromises, right?