President Obama and other Democrats would be wise to get on board with a repatriation deal, especially once the debt-ceiling talk dies down, and leave bus tours for the campaign season.
In short, the fiscal cliff means an automatic end to the tax cuts put in place under George W., and automatic across-the-board cuts to the government budget, as promised in the August 2011 debt ceiling compromise.
His comments sought to increase pressure on Republicans and Democrats to reach agreement on deficit-reduction steps, thereby avoiding the across-the-board spending cuts of sequestration that were part of a 2011 deal that raised the federal debt ceiling.