It is not clear whether America will continue to slide down the fiscal cliff. No one falls off the cliff — it's just a matter of continuing to slide into uncharted financial wasteland.
There is now a countdown on several news stations in the Washington, D.C., area that show how many days America has until it goes off the fiscal cliff of spending cuts and tax increases.
Greece and the rest of the European Union have dealt with many Euro members impending default for several years. It is hubris for the U.S. government to think it can solve these problems within one month.
The Europeans are basking in schadenfreude as they watch America try to resolve unfunded benefits of our Western European welfare state.