The political and economic ramifications are too big for Washington to let the large tax increases and spending cuts take effect. But this doesn't necessarily mean lawmakers will craft a decisive solution to the nation's fiscal woes.
The nation's problem is not the deficit but a lack of good jobs and sufficient growth, Reich writes.
Fortune Magazine awarded Bezos the title of 'business mind of 2012.'
A mini-deal on the fiscal cliff will give the new Congress and the White House time to craft a “grand bargain” on deficit reduction without going over the fiscal cliff, Reich writes.
By raising taxes on wealthy Americans, eliminating breaks for oil and gas companies and other measures, Obama could meet the goal of $4 trillion in deficit reduction over the next decade, Reich writes.