Regarding the latest pre-recess fiasco surrounding the payroll tax cut: In my view, which I have conveyed at very high levels, they are all wrong. Americans look at these regular Kabuki humiliations and conclude that the president, Congress, Democrats and Republicans are all incompetent and weak.

There are no winners from either party except the highly paid political consultants, from both parties, who convince elected politicians that voters are stupid and can be fooled.

The latest nonsense hurts consumer confidence, investor confidence and confidence in all political institutions.

I expect a deal will be concluded, because there are dramatic issues at stake. I refer to another all-important prolonged recess with vital campaigning, vacationing, fundraising, leisure, sporting and entertainment pursuits, which often involve highly expensive airfare to exotic locales.

With the possibility of a "throw the bums out” anti-incumbent election approaching, this latest fiasco reminds me of Einstein, who said insanity is to keep making the same mistake and expect the outcome to turn out differently.