https://hotair.com/headlines/archives/2013/01/02/the-fiscal-cliff-deal-is-a-failure-under-three-different-economic-theories/feed/HotAir is the leading conservative blog for breaking news and commentary covering the Biden administration, politics, media, culture, and current elections.en-usTue, 09 Jun 2026 13:11:31 -0400<![CDATA[From the Keynesian perspective held by many Democrats, it won’t stop a 2 percent jump in payroll taxes, which will sap almost as much consumer demand as extending middle-class tax cuts will preserve. Brad DeLong, a University of California at Berkeley economist who advised President Bill Clinton, calculated on Tuesday that the agreement would drain nearly 2 percentage points from gross domestic product growth this year.]]>Wed, 02 Jan 2013 14:20:53 -0500<![CDATA[Allahpundit]]>https://hotair.com/headlines/2013/01/02/the-fiscal-cliff-deal-is-a-failure-under-three-different-economic-theories-n98820