Prepare for Fiscal Doom

I'm getting a feeling that both the Obama administration and the loyal opposition are concerned about an economy that they know is ready to screech to a halt in 2013.That’s why they are pushing the fiscal cliff story so hard with their known associates at the Congressional Budget Office. Certainly they know what the Fed knows; the Fed that has said it will keep interest rates at sub-zero until evolution produces men who can produce hundred dollar bills via extra sensory perception. The Fed, you see, is gravely concerned about the next year’s GDP outlook. And they should be.